China Fund News, Anman

　　This week is the Super Central Bank Week, and Bitcoin, which previously surged to 70,000 US dollars, has been continuously diving.

　　On March 19th, Bitcoin plummeted again, once falling below the 63,000 US dollar threshold, with a daily maximum decline of nearly 8%.

　　Coinglass data shows that in the past 24 hours, a total of 243,000 people have gone bankrupt in the virtual currency market, with a total bankruptcy amount of 652 million US dollars (about 4.7 billion RMB).online casino platformClick to enter

　　Online casino and How to find it experiences a collective dropsports betting cheatsJoin us

　　In fact, besides Bitcoin, Online casino and How to find it is experiencing a collective drop. As of now, Ethereum has dropped by more than 9%, and Dogecoin has dropped by more than 12%.

　　Market analysts believe that on Tuesday, Bitcoin continued its decline from Monday, mainly due to three major reasons: Firstly, investors are digesting the outflow of funds from the physical Bitcoin ETF; secondly, the expectation of the Federal Reserve’s interest rate cut has decreased and the Bank of Japan announced the exit from negative interest rates; thirdly, it may be related to the upcoming Bitcoin ‘halving’ event in April.

　　Recently, JPMorgan Chase released a report on Bitcoin, which has attracted market attentionsports betting local and How to find it. The report points out that the ‘halving’ event of Bitcoin (i.e., the halving of mining rewards) will arrive in April, which may have a serious negative impact on the profitability of Bitcoin miners. The report warns that the price of Bitcoin may plummet to 42,000 US dollars per coin, with a potential decline of more than 36% from the current price.

　　Historically, the production cost of Bitcoin has always been the lower limit of its fundamental pricelottery help and The most exciting gameplay. However, JPMorgan Chase analyst Nikolaos Panigirtzoglou predicts that after the halving, the computing power of the Bitcoin network will decrease by 20%, which will lead to an increase in the production cost and fundamental price of Bitcoin.

　　The report detailed the reasons for this prediction. Firstly, the halving event will directly reduce the Bitcoin rewards received by miners, thus reducing their income. Secondly, due to the rising production costs of Bitcoin, miners with high electricity costs and low drilling efficiency will face greater pressure. This may lead to some miners exiting the market, further reducing the computing power of the Bitcoin network.

　　Both spot and ETFs are being sold off

　　The recent rise of Bitcoin is closely related to the疯狂 buying of Bitcoin ETFs. As the ‘bubble’ of Bitcoin grows larger, speculators are beginning to act cautiously. On March 18, Bitcoin suddenly crashed, followed by a collective dive in the cryptocurrency market, which may be related to aggressive selling behavior.

　　According to foreign media reports, cryptocurrency exchange BitMEX investigated the abnormal trading activities that led to the sudden crash of Bitcoin on its platform yesterday. A spokesperson for BitMEX said that the company investigated the incident and found evidence of ‘aggressive selling behavior involving a very few accounts, which exceeded the expected market range’, and added that its system was running normally and all user funds were secure.

　　Previously, an X account named @syq was the first to release news about the sudden sell-off, claiming that the flash crash coincided with the sale of 977 Bitcoin worth about 66 million US dollars. A spokesperson for BitMEX refused to comment further on the details of the event.

　　On the earlier part of March 19, the Grayscale Bitcoin Trust (GBTC.US) with a scale of 25 billion US dollars announced a fund outflow of 6.43 billion US dollars, which was the largest outflow since the trust converted to a spot Bitcoin ETF on January 11.

　　At the same time, the inflow of funds into spot Bitcoin ETFs under the giants such as Fidelity Investments and BlackRock is also decreasing, with a total net outflow of 154 million US dollars among these 10 spot Bitcoin ETFs on March 18.

　　In a report released on Tuesday, cryptocurrency trading company QCP Capital wrote that the company will ‘closely monitor the total flow data of today’s ETF’, and added that ‘continued outflow of funds will be a clear bearish signal’.

　　Since the trading of the spot Bitcoin ETF began, it has attracted a net investment of 12 billion US dollars, pushing Bitcoin to a historical high of 73,798 US dollars.