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Analysts at Bernstein see the slowing spot bitcoin ETF flows as a “short-term pause” before the foremost cryptocurrency resumes its bull run toward their $150,000 target. The analysts also argued spot Ethereum ETF denials could be bullish for ether and reiterated their anticipation that the total crypto market cap would triple to $7.5 trillion.
Bitcoin has fallen below the $63,000 mark as weak U.S. GDP growth spreads rate-cut gloom. However, major stock indices have remained robust in the face of higher-for-longer rates.
Bitcoin is on course for 12% losses in April, and with the monthly close just days away, it could end up sparking the weakest BTC price action in more than a year.
SlowMist’s information security chief alerted that a hacker from North Korea’s Lazarus Group is posing as an executive member of asset management firm Fenbushi Capital. Lazarus usually impersonates an investor to target prominent DeFi projects, SlowMist said.
The week ahead will certainly not be a quiet one with a major economic report, a big Federal Reserve meeting, and a flood of earnings reports.