● The annual rate of US CPI hit a six-month high, and the possibility of the Fed cutting interest rates in June decreased
According to Odaily Planet Daily, the U.S. unadjusted CPI annual rate in March was 3.5%, higher than the expected level of 3.4%, the highest level since September 2023.
● US CPI data for March exceeded expectations, and Bitcoin block trading activity increased significantly
According to Wu, the US CPI data for March exceeded expectations. The strong US economic data made the interest rate cut seem far away. All major risk assets fell sharply after the data was released. Bitcoin was also inspired to recover its short-term decline. With today's high volatility, the activity of block trading increased significantly. Bitcoin block trading accounted for half of the total trading volume, and Ethereum block trading accounted for 70% of the total trading volume. The main transactions were mainly based on the short strategy of buying the June bear market spread and selling the April bullish spread, while shorting short-term prices and fluctuations. The whales have made more defensive operations recently, and the market is still in a weak position.
● GBTC hits the lowest single-day net outflow record in history, and US Bitcoin spot ETFs record overall net inflows
According to BlockBeats, Farside Investors data showed that on April 11, GBTC recorded a net outflow of only $17.5 million yesterday, setting a record for the lowest single-day net outflow since its conversion to a spot ETF. Although only Fidelity FBTC (+$24.3 million) and ARK's ARKB (+$7.3 million) released yesterday's data, the U.S. Bitcoin spot ETF recorded an overall net inflow of $14.1 million yesterday.
● Grayscale CEO: GBTC capital outflow is tending to balance
According to Odaily Planet Daily, Grayscale CEO Michael Sonnenshein believes that the outflow of funds from the company's Bitcoin ETF (GBTC) has reached a balanced level. Sonnenshein said: "We do think that GBTC has begun to reach some balance, and some expected outflows, whether it is (FTX) bankruptcy selling or some investors may do swap transactions, are basically a thing of the past."
● US Bitcoin spot ETF cumulative trading volume exceeds US$200 billion
According to Odaily Planet Daily, as of Tuesday, the cumulative trading volume of US Bitcoin spot ETFs exceeded $200 billion. Data shows that the cumulative trading volume of Bitcoin spot ETFs has almost doubled in the last month alone: from March 8, when the total trading volume exceeded the $100 billion mark for the first time, to $201.7 billion at the close of yesterday.
● Bitcoin mining difficulty hits a record high, up 3.92% to 86.39 T
According to PANews, BTC.com data shows that the difficulty of Bitcoin mining has been adjusted at block height 838,656 (2024-04-11 05:17:33), with the difficulty of mining increased by 3.92% to 86.39 T, a record high. The current average computing power of the entire network is 629.72 EH/s.
● The U.S. Securities and Exchange Commission issued a Wells notice to the decentralized financial platform Uniswap
According to Blockworks, the U.S. Securities and Exchange Commission (SEC) issued a Wells Notice to the decentralized financial platform Uniswap on Wednesday, which usually foreshadows an upcoming enforcement action.
Uniswap CEO Hayden Adams said he was not surprised, just annoyed and disappointed, and was ready to fight. He said he was confident that the products we provide are legal and that our work is on the right side of history. A representative of the SEC declined to comment.
● ESMA: MiCA could be a growth driver for cryptocurrency-EUR trading
According to Odaily Planet Daily, the European Securities and Markets Authority said that although MiCA will come into effect at the end of the year, it has not yet promoted an increase in cryptocurrency euro trading. However, this may become a potential growth driver because it aims to strengthen investor protection. Since the formal legislation of the regulation last year, the level of cryptocurrency trading denominated in euros has remained stable at around 10%.
