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[ Bitwise CIO: Bitcoin price may reach $250,000 when the next halving occurs]
Bitwise Chief Investment Officer Matt Hougan made predictions about market changes before Bitcoin's fifth halving (expected to be in April 2028), mainly including: during the next halving, Bitcoin's market volatility will decrease, portfolio allocation and ETF fund flows will increase, central banks of some countries will participate, and Bitcoin's target price will be at least US$250,000.
Additionally, Matt Hougan expects “typical” portfolio allocations to rise to “normal” levels of 5% or more in Bitcoin. He said: “Bitcoin is barely in these portfolios today, but I think that’s going to change in the next few years for ETFs, 529 plans, and 401k plans, and I predict that more aggressive versions of these portfolios will target 5% or more.”
[ Deribit derivatives exchange about $9.4 billion in cryptocurrency options will expire this Friday]
According to The Block, about $9.4 billion in cryptocurrency options on the Deribit derivatives exchange will expire this Friday, including more than $6.3 billion worth of Bitcoin options and more than $3 billion worth of Ethereum options.
The ratio of Bitcoin put options to calls for month-end expiration rose to 0.68 on Friday, with the number of puts and calls increasing compared to the previous week.
For the Ethereum contract, the put-to-call ratio is low at 0.49 ahead of Friday’s expiration. A put-to-call ratio below 1 indicates that call volume is outpacing put volume, indicating bullish sentiment in the market.
[ BlackRock IBIT accounts for 24% of the company's total global ETF flows]
Eric Balchunas, senior ETF analyst at Bloomberg, said that BlackRock's spot Bitcoin ETF (IBIT) is "excellent." He said: "I know they are very interested in this IBIT, which accounts for 24% of the company's total global 1,000 ETF flows. You know, this even caught the attention of Larry Fink."
BlackRock’s spot Bitcoin ETF attracted more than 70 consecutive days of inflows after it began trading in January, making it one of the most successful ETFs in history.
[S&P Global: If the latest US stablecoin bill passes, Tether's dominance will be weakened]
Rating agency S&P Global said in a report on Wednesday that if the Lummis-Gillibrand Payment Stablecoin Act proposed last week by Republican Senator Cynthia Lummis of Wyoming and Democratic Senator Kirsten Gillibrand of New York is passed, it will make it clear that regulation "should encourage banks to enter the stablecoin market" and that the proposed bill does not allow Tether. After banks intervene, Tether's dominance in the global stablecoin market will be weakened.
The agency said Tether is issued by non-US entities and would not be allowed if the bill passed. S&P Global said: "This means that US entities cannot hold or trade Tether, which may reduce demand while boosting US-issued stablecoins. However, we note that Tether trading activity mainly occurs in emerging markets outside the United States and is driven by retail users and remittances."
[Some Square users can now convert US dollars into Bitcoin through Cash App , with a fixed fee of 1%]
Jack Dorsey ’s fintech company Block (SQ), formerly known as Square, is connecting two of its largest platforms: merchant service system Square and peer-to-peer payment application CashApp, allowing retail stores to automatically convert a portion of their daily sales into Bitcoin (BTC).
The tool, called Bitcoin Convert, will allow eligible Square users to convert dollars into Bitcoin through Cash App. Bitcoin Convert will charge a flat fee of 1% and automatically convert a portion of merchant revenue into BTC, which can then be held, sold, or transferred "as they see fit."
The service will be limited to sole proprietors or single-member LLCs until it's fully rolled out to Square customers in the coming months.
[EU anti-money laundering bill passes final vote, will strengthen due diligence measures and checks on customer identity]
According to The Block, the European Parliament voted on Wednesday to pass a series of laws aimed in part at strengthening "due diligence measures and checks on the identity of customers," including so-called crypto asset managers, who will also have to report suspicious activity to authorities.
The new law will affect crypto asset service providers (CASPs), such as centralized crypto exchage, as well as a variety of other institutions including betting services.
Patrick Hansen, Circle 's EU strategy and policy director, said in a post on X that the vote was expected, saying: "The package will be formally adopted by the EU Council and will start to be implemented in three years."
Author: BitpushNews Mary Liu
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