Bitcoin

Silk Road

Spot

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin (BTC) is currently priced above $66k, down by approximately 1% in the past 24 hours.</li> 
 <li>Spot Bitcoin exchange-traded funds (ETFs) saw a significant rise in trading volume in March, peaking at $111 billion.</li> 
</ul> 
<p>Bitcoin (BTC)’s price holds steady above $66k, and at the moment of writing this article, BTC is priced at $66,270, down by about 1% in the past 24 hours on <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="nofollow noopener" target="_blank">CoinMarketCap</a>.</p> 
<figure id="attachment_37973" aria-describedby="caption-attachment-37973" style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" class="wp-image-37973 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/04/BTC_1D_graph_coinmarketcap-9.jpg" alt="Bitcoin Price Trajectory" width="793" height="475" title="Bitcoin Price Hovers Above $66k Following BTC ETF Trading Surge In March 4" srcset="https://crypto.ro/en/wp-content/uploads/2024/04/BTC_1D_graph_coinmarketcap-9.jpg 793w, https://crypto.ro/en/wp-content/uploads/2024/04/BTC_1D_graph_coinmarketcap-9-300x180.jpg 300w, https://crypto.ro/en/wp-content/uploads/2024/04/BTC_1D_graph_coinmarketcap-9-768x460.jpg 768w, https://crypto.ro/en/wp-content/uploads/2024/04/BTC_1D_graph_coinmarketcap-9-750x449.jpg 750w" sizes="(max-width: 793px) 100vw, 793px">
 <figcaption id="caption-attachment-37973" class="wp-caption-text">
  Bitcoin Price Trajectory
 </figcaption>
</figure> 
<p>Bitcoin’s volatility remains pretty high with about two weeks to go until the halving event.</p> 
<p>Bitcoin halving is a significant event in the world of Bitcoin that occurs roughly every four years. This year’s Bitcoin halving is scheduled for April 20, further decreasing the reward to approximately 3.125 BTC per block.</p> 
<h2 id="spot-btc-etf-march-volumes-surged-to-unprecedented-highs">Spot BTC ETF March volumes surged to unprecedented highs</h2> 
<p>In March, the trading volume of spot Bitcoin ETFs surged to $111 billion, nearly tripling the volume recorded in February. BlackRock’s IBIT and Grayscale’s GBTC ETFs dominated the market.</p> 
<p>According to ETF analyst Eric Balchunas from Bloomberg,<a href="https://twitter.com/EricBalchunas/status/1775147839498207695" rel="nofollow noopener" target="_blank"> spot Bitcoin ETFs saw a massive surge</a> in trading volume in March, reaching $111 billion compared to $42.2 billion in February.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://twitter.com/EricBalchunas/status/1775147839498207695/photo/1" rel="nofollow noopener" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GKKXG48XQAE5Elk?format=png&amp;name=4096x4096" alt="BTC ETF" width="2384" height="1606" title="Bitcoin Price Hovers Above $66k Following BTC ETF Trading Surge In March 5"></a>
 <figcaption class="wp-caption-text">
  BTC ETF
 </figcaption>
</figure> 
<p>These Bitcoin investment products were launched on January 11, and February was the first full month of trading. The significant increase in trading volume in March indicates that there is a growing interest in spot Bitcoin ETFs.</p> 
<p>BlackRock’s IBIT continues to dominate the market, while <a href="https://crypto.ro/en/news/bitcoin-etf-trading-surges-111-billion-in-march-a-triple-increase/">Grayscale’s GBTC has exceeded $15 billion in total outflows</a> after the over $300 million outflows recorded on April 1.</p> 
<h2 id="silk-road-bitcoin-on-the-move">Silk Road Bitcoin on the move</h2> 
<p>The other day, a cryptocurrency wallet, reportedly associated with the U.S. Department of Justice (DOJ), has seemingly conducted a test transaction with&nbsp;<a href="https://crypto.ro/en/exchange/gdax/">Coinbase Prime</a>.</p> 
<p>It appears that the <a href="https://crypto.ro/en/news/doj-seized-bitcoin-wallet-worth-2-billion-sends-test-transaction-to-coinbase-prime-arkham-data-reveals/">$2 billion worth of Bitcoin is linked to the funds that were seized by the Department of Justice</a> (DOJ) from Silk Road, a dark web marketplace that no longer exists.</p> 
<p>In 2020, the DOJ initiated the process of officially confiscating the cryptocurrency, which was valued at over $1 billion at the time.</p>

Bitcoin Price Hovers Above $66k Following BTC ETF Trading Surge In March

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