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Bitcoin short liquidations spiked over $24 million in the past 24 hours as the price held above the $59,000 mark.Technical and fundamental bitcoin chart indicators show optimistic signs for the crypto market moving into the month of May, an analyst said.
After hitting a low under $57,000 earlier this week, BitMEX co-founder Arthur Hayes expects bitcoin to rally back to the $60,000 to $70,000 range.Hayes argues that recent policy announcements from the U.S. Federal Reserve and Treasury Department amount to “stealth forms of money printing” that will begin a slow grind higher for the crypto market.
Hong Kong’s three spot bitcoin ETFs have seen a decline in daily BTC inflows.Inflows reduced to 174.73 bitcoin on the second day from 3,910 bitcoin on the opening day.Total trading volume maintained at over $9.7 million on both days.
TON is among the most notable gainers in the past 24 hours.
- 08:15The total locked-in value of Ethereum's Layer2 network is 45.63 billion US dollars, down 11.3% in the past 7 daysAccording to L2BEAT data, the total locked-in value of Ethereum's Layer2 network is currently $45.63 billion, down 11.3% in 7 days. The top five are: Arbitrum One ($17.63 billion, down 10.7% in 7 days); Base ($13.63 billion, down 13.2% in 7 days); OP Mainnet ($7.1 billion, down 9.38% in 7 days); ZKsync Era ($1.19 billion, down 6.33% in 7 days); Blast ($982 million, down by8 .21% over the past week).
- 07:54Famous trader Ansem: The current market uncertainty and fear may subside after Trump's inauguration ceremonyWell-known trader Ansem posted on X saying, "I think Bitcoin is going to enter a very bad phase, it looks like it's going to crash, but not as low as 91-92 thousand dollars. Consider going long before Trump's inauguration ceremony to observe whether the market overreacts to the hawkish remarks of the Federal Reserve and fears of potential sell-offs by the Department of Justice." Later, in response to netizens, Ansem said: "What can be certain is that this uncertainty and fear may subside after Trump's inauguration ceremony, depending on Trump's remarks."
- 07:52The L2 public chain Abstract, under the parent company of Pudgy Penguins, has confirmed that it will be launched this monthAbstract Ecosystem posted on the X platform, confirming its focus on chain culture and community's Layer 2 network Abstract will be launched this month. The project is developed by Igloo Inc., the parent company of NFT project Pudgy Penguins. It previously acquired the chain creator economic platform Frame to accelerate development.