NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Crypto Bulls Rejoice: Congresswoman Confirms Powell’s Imminent Firing

Bitcoin whales on the defense, this is how BTC could climb to new highs

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Bitcoin BTC BTCUSD

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

After spending weeks moving sideways, BTC price seemed to be close to a new high. However, the cryptocurrency seems to be stuck just below the resistance level at $60,000.

Analyst Ben Lilly has published a report in which he determines what has caused the stalemate and how BTC has a “bullish combination” for the following weeks. The analyst has registered large sell walls near current levels. This, he claims, is part of a whale of a strategy to “attract” liquidity.

They do this by stalling prices near a breakout. Then after releasing the valve a bit, they can liquidate those built up as well as the newly added positions.

The key to an exit of the stock from the current price is the “unlocking” of a large amount of BTC from Grayscale’s fund could give bullish momentum. These unlockings will begin to occur in late April, the analyst says:

To me this continued sideways scenario makes the most sense given how quickly we have climbed since last week… But when it comes to bitcoin, if those walls get lifted and the fake out/liquidity grab maneuver does not take place… then we’re off to the races.

Jet fuel to the upside. Funding rates reset from the drop. Now the liquidity is higher, time to punch it. pic.twitter.com/icLm7PjBZL

— Ben Lilly (@MrBenLilly) April 4, 2021

BTC is trading at $58,858 with 1.2% gains in the 24-hour chart and 5.6% in the weekly chart.

Bitcoin BTC BTCUSD
BTC with small gains during the last day. Source: BTCUSD Tradingview

Grayscale Bitcoin Trust’ conversion to an ETF

Looking at the bigger picture, Grayscale Bitcoin Trust (GBTC) has lost its monopoly as the only investment vehicle for institutions seeking exposure to Bitcoin. The emergence of Exchange Traded Funds (ETFs) in Canada has absorbed a lot of institutional interest. Investment firm Grayscale acknowledges as much.

In a recent publication, the firm has revealed that they are “committed” to converting GBTC into an ETF. Having tried unsuccessfully in 2016 through 2017, Grayscale believes the industry has matured. The investment firm stated:

Today, we remain committed to converting GBTC into an ETF although the timing will be driven by the regulatory environment. When GBTC converts to an ETF, shareholders of publicly-traded GBTC shares will not need to take action and the management fee will be reduced accordingly.

As such, they do not offer a specific date for the possible approval or conversion of its GBTC. The firm says it is “focused” on the long term. A few hours after this announcement, GBTC’s premium increased by 5% after trading negative for the entire month of March.

https://twitter.com/mskvsk/status/1379097287432011777

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

bitcoin price btc btcusd

Bitcoin Price Still Not Overheated Says Top Metrics, Is $150k Close?

The Bitcoin price has been cooling off on low timeframes, while the altcoin markets take advantage to trend higher. The...

James Halver 2 hours ago

SOL幣價格現強勢能突破300美元嗎?牛市來臨前最值得下注的1000倍幣!

根據最新價錢走勢,Solana(SOL)今日又升5%,目前徘徊於168美元上下,與年初不到40美元的水平相比,已出現顯著反彈,年內漲幅超過280%。儘管短期內面臨盤整壓力,但市場情緒依然積極,部分技術...

Kelvin Lee 2 hours ago
Ethereum

Massive Whale Profits $15 Million—Now Betting Big On Ethereum To Crash

A well-known crypto whale has made a big move against Ethereum, opening a $62.42 million short position using 18x leverage....

Christian Encila 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Recovers to $119K But Key Indicators Show Mixed Signals

Bitcoin Recovers to $119K But Key Indicators Show Mixed Signals

Samuel Edyme 20 minutes ago
Bitcoin Price Pauses for Breath

Bitcoin Price Pauses for Breath—Consolidates Gains Before Next Big Move?

Aayush Jindal 27 minutes ago
Ethereum price news

Ethereum Could Shoot Above $4,000 This Week, Predicts Analyst

Jake Simmons 1 hour ago

Premium Sponsors

Press Releases

  • 2 kryptoměny s extrémně vysokým oceněním, které mohou stát za to riziko

    2 kryptoměny s extrémně vysokým oceněním, které...

    8 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    2 rendkívül magas árfolyamú kriptovaluta, amelyeket...

    9 hours ago
  • 2 криптовалути с небесни оценки...

    11 hours ago
  • 仮想通貨プレセール|ビットコイン向け最速かつ唯一の本格レイヤー2が300万ドル突破

    ...

    12 hours ago
  • 2 rendkívül magas árfolyamú kriptovaluta, amelyeket érdemes lehet kockáztatni

    ...

    12 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.