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🌙 Wintermute's Bullish Bets $100k BTC

Traders are bullishly betting Bitcoin will rise above $100,000 before the end of the year.

Author

Mike Gavela
April 09, 2024

Crypto Roundup - Apr 9

In the evolving landscape of cryptocurrency, differing perspectives shed light on the market's future. Wintermute's traders are betting big on Bitcoin, with expectations of its price soaring above $100,000 by the end of 2024, fueled by a significant surge in optimistic options trading. In contrast, Bitcoin billionaire Arthur Hayes expresses a bearish outlook towards Bitcoin's upcoming halving, highlighting potential challenges that could dampen the anticipated positive impact on Bitcoin's value. Amidst these views, miners are strategically accumulating Bitcoin, anticipating a price increase post-halving, which marks a critical point for the cryptocurrency's valuation and investment strategies. These developments point towards a pivotal moment for Bitcoin, reflecting a mix of optimism and caution that defines the current crypto market sentiment.

Top stories:

  • Wintermute's bullish bets on Bitcoin suggest a significant confidence in its price reaching beyond $100,000 by the end of 2024.

  • Arthur Hayes' bearish perspective contrasts with the market's optimism, cautioning against the expected benefits of the Bitcoin halving.

  • Miners stockpiling Bitcoin ahead of the halving, indicating a strategic move to leverage potential price increases for long-term gains.

TOP STORIES

Traders flock to bets that Bitcoin will rise to above $100,000 by the end of 2024

Bitcoin options traders are piling into bullish bets that the digital asset will surge to record highs of $100,000 by December, algorithmic trading firm Wintermute said in a note on Monday.

www.dlnews.com/articles/snapshot/wintermute-says-traders-are-betting-bitcoin-will-reach-100k

Bitcoin Billionaire Arthur Hayes Is Bearish on the Halving—Here's Why - Decrypt

Here's why Bitcoin billionaire Arthur Hayes is bearish about the halving and says he'll stay out of the market at least until May.

decrypt.co/225381/bitcoin-billionaire-arthur-hayes-bearish-btc-halving

Miners keep adding to BTC stockpiles in homestretch before halving

Industry giants Marathon Digital and Riot Platforms together have roughly $3 billion in combined cash and BTC on their balance sheets.

blockworks.co/news/miners-stockpiling-btc-before-halving

FUNDRAISES

OTHER HEADLINES

Biden's mining tax is the least sensible part of his 2025 budget proposal

Biden wants to impose a new 30 percent tax on the electricity that Bitcoin miners are using — regardless of how it's sourced. That means many will move abroad.

cointelegraph.com/news/biden-mining-tax-2025-budget-proposal

Restaking protocol EigenLayer heads to Ethereum mainnet

EigenLayer is the highly-anticipated Ethereum restaking protocol that has attracted billions of dollars worth of customer deposits.

blockworks.co/news/eigenlayer-restaking-protocol-on-ethereum

US Treasury official outlines proposals for tighter crypto crime control

U.S. Deputy Treasury Secretary Adewale Adeyemo appeared before the Senate Banking Committee to argue for greater crypto crime fighting powers.

cointelegraph.com/news/us-treasury-official-outlines-proposals-tighter-crypto-crime-control

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