Market Update: April 2024 | Week 4


22 APR 2024 | RESEARCH


Welcome to Wintermute OTC Market Update. This weekly commentary aims to provide color on the recent crypto market developments.


Highlights



  • Bitcoin continues to consolidate in the $60,000 range amid broader risk-off sentiment across markets.

  • The Bitcoin halving is set to have a pronounced effect on mining hardware profitability, altering gross income and lengthening the break-even times for the analyzed models, each to a different extent.

  • The anticipation of the Runes protocol has generated significant activity within the Bitcoin ecosystem, leading to the widest gap in transaction fees between Bitcoin and Ethereum observed in the past two years..




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