📈 General Bitcoin Market News
Fear and Greed Index
- Current Value: 70
- Change Since Last Week: -13
Bitcoin Price Update
- Current Price: $65,990.35
- Weekly Percentage Change: -7%
Market Sentiment
- Some profit taking after extreme greed has allowed BTC to breathe with a -7% downturn in price as of this writing.
- Net ETF Inflows are still positive. In the last week they amount to an influx of +$2,914,468,792.
Source: Real-Time Bitcoin ETF Fund Flows - Monitor BTC Market Sentiment (btcetffundflow.com) - The market seems mostly optimistic with the upcoming halving with a slight bit of concern creeping in about a short term correction going into the halving.
- Some fear emerging from predictions indicating 97.7% probability against FED cutting rates. The federal funds rate (FFR) is steady at 5.25-5.5%.
Liquidations
- Total Shorts Liquidated: $398,928,000
- Total Long Liquidated: $1,007,438,000
🌐 Bitcoin Ecosystem Updates
Stacks News
- Velar Launch IDO with an astounding 55,000% oversubscription on Gate.io and a record-breaking 127,000+ participants on Bybit launchpad, their highest ever!
- Lisa Lab goes live with Liquid Stacking.
- A new Stacks Working Group with an initial allocation of $500,000 is going to find out if better Bitcoin layers can be built with BitVM – all open source.
- Alex Announce TREX20 to launch on launchpad: 'TREX20 is revolutionizing and pioneering in GameFi built on Bitcoin Protocol with Multiple Games + an NFTFi Marketplace and progressive lotto under one roof.'
- StackingDAO launches exciting rebrand.
Top Bitcoin Ecosystem Highlights
- BOB | Build on Bitcoin
- BOB Fusion has been live for one week now and has some key highlights:
- 3k+ participants
- $107M+ in Total Value Locked (TVL)
- $44M in BTC assets
- $17M in ETH assets
- $6.5M in stablecoins
- $36.9M in eSOV
- $5.7M in other assets
- BOB & Anduro by MarathonDH are setting a new standard with Alys, a Bitcoin L2 for the institutional world.
- Ethereum's flexibility meets Bitcoin's security.
- Aimed at making Bitcoin the hub for institutional adoption, Alys offers a solution that's scalable, secure, and smart contract-ready.
- Velodrome is coming to BOB
- An innovative DEX boasting $740m TVL across Optimism and Base.
- An innovative DEX boasting $740m TVL across Optimism and Base.
- BOB Fusion has been live for one week now and has some key highlights:
- Merlin Chain:
- Pyth Network joins Merlin Chain to provide price feeds to enable advanced DeFi projects to build around BTC.
- Pyth Network joins Merlin Chain to provide price feeds to enable advanced DeFi projects to build around BTC.
- Citrea:
- Open sourcing their core codebase built on Sovereign SDK. Repository includes:
- Full node
- Sequencer
- Prover
- Open sourcing their core codebase built on Sovereign SDK. Repository includes:
- Rootstock:
- Arrowhead upgrade will activate on mainnet. Three big themes from the RSKIPs in Arrowhead:
- Transactions get even cheaper due to multiple gas cost optimisation.
- EVM compatibility maintained through addition of BASEFEE.
- Bitcoin-Rootstock 2-Way Peg gets even better, with enhancements to peg-out functioning and pegnatory address verification.
- Bitcoin's first NFT aggregator Artoshi is now onboarding to Rootstock.
- Introduced Concha, a modular zk-rollup layer built atop Rootstock powered by Polygon CDK and Celestia DA.
- Arrowhead upgrade will activate on mainnet. Three big themes from the RSKIPs in Arrowhead:
- Sovryn:
- SIP-0077: Enhancement of Staking Rewards and Governance Mechanisms in Anticipation of BitcoinOS has passed successfully.
- SIP-0079: Transfer of SOV from Adoption Fund to Build on Bitcoin Mainnet has passed successfully.
Upcoming Events
- Taproot Wizards Magical Evening
- Hosts: Dan Held, Tyler Whittle, Udi Wertheimer, English, Jen, Eric Wall, Rebecca Frank and Jen Sorsby
- Location: New York, New York
- Tickets
- Quantum Cats Gmeow
- Hosts:Dan Held, Tyler Whittle, Udi Wertheimer, English, Jen Eric Wall
- Location: New York, New York
- Tickets
Closing Thoughts
As we navigate through the ebbs and flows of the Bitcoin market and ecosystem, it's clear that innovation and community engagement remain at the heart of Bitcoin. Despite short-term market corrections and regulatory uncertainties, the ongoing developments within the Bitcoin L2 space and sidechains signal a robust future for Bitcoin as a platform for institutional and retail adoption alike.
The launch of projects like BOB Fusion, Alys, and the integration of Velodrome into the BOB ecosystem highlight the vibrant activity and the collaborative spirit driving the community forward. Pyth bringing price feeds to Merlin Chain is a major step to pushing the envelope for more advanced DeFi in the ever evolving Bitcoin landscape. As we look towards the upcoming halving and beyond, the Bitcoin ecosystem continues to evolve, offering new opportunities for growth, scalability, and security.
We're excited to witness the unfolding of these initiatives and their impact on the broader blockchain ecosystem. As always, we encourage our readers to stay informed, engage with the community, and contribute to the ongoing dialogue that shapes the future of Bitcoin and decentralized finance.
Stay tuned for more updates, and let's continue to build a decentralized future, together.