📈 General Bitcoin Market News
Fear and Greed Index
- Current Value: 76
- Change Since Last Week: +6
Bitcoin Price Update
- Current Price: $70,115.81
- Weekly Percentage Change: +6.2%
Market Sentiment
- After last weeks breather BTC is moving and grooving again with a +6.2% rise in price as of this writing.
- Net ETF Inflows are still positive. In the last week they amount to an influx of +$469,134,201.
Source: Real-Time Bitcoin ETF Fund Flows - Monitor BTC Market Sentiment (btcetffundflow.com) - The market seems mostly optimistic with the upcoming halving with slight uncertainty how a hot CPI will affect the short term.
- The federal funds rate (FFR) is steady at 5.25-5.5%.
- Wall Street firms with a combined $15 BILLION in AUM bought exposure to Bitcoin ETFs in Q1:
Liquidations
- Total Shorts Liquidated: $483,382,000
- Total Longs Liquidated: $704,232,000
🌐 Bitcoin Ecosystem Updates
Stacks News
Nakamoto is approaching fast, with the rollout beginning April 16th and completing during the Activation Window: May 15-29. This grand upgrade to the network will usher in fast block times and transactions secured by 100% Bitcoin finality.
- Zest Protocol opens to the public. Zest Protocol is an on-chain lending protocol, built for Bitcoin. Shortly after launch, Zest experienced an attack which was mitigated and user balances were confirmed safe. The attacker removed 324k STX from the protocol. This amount will be reimbursed from the Zest Protocol treasury and users will be made whole.
- Portal Finance announces support for Stacks and sBTC on Portal Cross-Chain DEX, offering a premier liquidity hub for DeFi built on Bitcoin, while activating the Bitcoin economy with the leading Bitcoin Layer 2 solution.
- ALEX just crossed 1.5 Billion in trading volume.
- Velar Bridge goes live, enabling bridging between ERC-20 (Ethereum) and SIP-010 (Stacks) tokens.
- Galxe integrates with Stacks to bring quests to the builders on Stacks to aid with onboarding new users. With 12 million+ unique users, thousands of successful campaigns, Galxe has propelled the growth of many projects in the space. The first Galxe campaign for the leading Bitcoin L2 is live. The campaign will introduce more quests every two weeks where you can earn NFTs created by NickoleNFT & win amazing prizes.
- Xverse wallet introduces Sats Connect, a simple javascript library that connects apps to Bitcoin, Stacks & Bitcoin Layer 2 wallets
Top Bitcoin Ecosystem Highlights
- Arch Network reveals itself as the very first and only Bitcoin-native application platform.
- BOB | Build on Bitcoin
- Will be supported by Socket Superbridge allowing users to transfer assets from various chains like Base, BSC, Arbitrum, Avalanche, Polygon and more to BOB.
- Kartel Network is bringing its groundbreaking decentralized derivatives layer to BOB.
- Stake Stone partner with BOB to bring additional rewards to BOB fusion and further incentivise liquidity in the Bitcoin ecosystem. Stake Stone for Spice (BOB points). Stake Stone is an Omnichain Liquidity Infrastructure.
- Tarot announces its expansion to theSuperchain with BOB. Tarot is the premier multi-chain decentralized lending protocol bringing its visionary borrowing and lending dynamics to BOB.
- Strategic collaboration with
- Protofire to bring Gnosis Safe, the most secure EVM multisig wallet to BOB. Protofire's expertise aligns the deployment with the latest Gnossis Safe recommendations, setting the stage for easy inclusion of BOB network in Safe's UI & facilitating future transitions.
- Merlin Chain:
- SolvBTC, the world's first-ever yield-bearing Bitcoin, is now officially live on Merlin Chain.
- Stake Stone announce partnership with Merlin.
- Rootstock:
- Arrowhead goes live, making it the 9th network upgrade since Rootstock genesis, having maintained 100% uptime.
- 2-Way Peg App version 1.8.0 is now on Mainnet.
- Etherspot is partnering with Rootstock to bring Account Abstraction to Bitcoin.
- Rubic expands its L2 chain offerings with the integration of Rootstock. Rubic is a cross-chain tech aggregator on a mission to simplify DeFi for users of all experience levels.
- oooo integrates Rootstock. oooo is the first modular Bitcoin and L2 Liquidity Cross-Rollup Bridge Protocol.
- Sovryn:
- TVL for Sovryn Runes & Extra Spice deposits crossed $11,000,000!
- Only 1,208 blocks are left until the Halving, which will also mark the launch of Runes.
- SIP-0077: Staking Rewards for BitcoinOS Program Implementation. This SIP suggested boosting SOV yield for Bitocracy rewards and governance in preparation for BitcoinOS and the expansion of the Sovryn dApp Suite across Bitcoin chains. The aim is to align incentives, improve security, and build a Bitcoin-native ecosystem with reduced trust assumptions outside Bitcoin. With this update to the dapp, stakers will be able to claim their BitcoinOS ready SOV after the current staking period is completed (19th April).
- OsSOV contract:0x6F6f88Ac9f8a1f0b2863aFb3b705487d07A78151is a new token designed specifically for BitcoinOS. The token is non-transferrable and aims to be teleported to BitcoinOS when it is ready.
- StakingRewardsOS contract:0xb0e08B7e4498ecA6868781aC3B5086fF4F66be56responsible for the allocation of the OsSOV reward token.
Upcoming Events
- Bitcoin Unleashed
- Virtual Event
- Date: April 25th, 10am ET
Closing Thoughts
As we conclude, the dynamic landscape of the Bitcoin market continues to evolve with each passing week. From price movements to ecosystem expansions, the space is vibrant with activity. Keep a close eye on upcoming events like Bitcoin Unleashed on April 25th, and stay informed about the latest developments shaping the future of cryptocurrency. Whether you're a seasoned investor or a curious observer, there's always something new to discover in the world of Bitcoin.