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Bitcoin rebounds above $61,500

Bitcoin rebounds above $61,500

The world's top crypto gets a lift at week's end amid some good news.

Ryan Ozawa
May 03, 2024

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📝 What you need to know

A week of mostly dark clouds in crypto got a little sunlight on Friday, as encouraging U.S. unemployment stats fed a rebound in the price of BTC, which stands at $61,627 as of this writing. It had fallen to nearly $56,800 midweek, and is still down about 3% over the past 7 days.

The good news for BTC holders was bad news for those betting against it, with $100 million in short positions liquidated in one day.

Top Stories

Bitcoin Price Leaps Over $61K Following US Unemployment Data

After a government employment report was published, showing unemployment is higher than expected, Bitcoin leaped over $61k.

Bitcoin Price Rebound Smashes $100 Million in Crypto Shorts

Bitcoin is back up again—and as a result, traders betting on a dip in the asset's price have had their positions liquidated.

Jack Dorsey's Block Will Reinvest 10% of Bitcoin Profits Into BTC

After selling $2.7 billion worth of Bitcoin in Q1 2024, Jack Dorsey's Block unveiled a plan to reinvest Bitcoin-related profits into the coin.

Bitcoin Billionaire Arthur Hayes Predicts Market Bottom Is In, 'Slow Grind Higher'

Bitcoin has hit its bottom, BTC billionaire Arthur Hayes argued. And now, he predicts markets will see "a slow grind higher."

From Our Partner

QuickNode OnChain Report: 2024 Q1

The ever-evolving digital landscape sees continuous innovation, but in the last quarter alone, the blockchain ecosystem has witnessed remarkable transformation. Here’s a report that puts it all in perspective.

This comprehensive report is a collaboration between QuickNode, a premier Web3 infrastructure and developer platform, and Artemis, a cutting-edge institutional data platform for digital assets. Together, they offer a deep dive into the significant commercial progress unfolding across various chains and sectors within the blockchain universe.

OnChain Report 2024 Q1

💬 Quote of the Day

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I certainly won’t be babysitting Bitcoin when I could be two-stepping… I’m buying Solana and doggie coins for momentum trading positions.

—Arthur Hayes

🌐 From Our Hubs

🎮 GG: Redstone Network Launches to Power Fully On-Chain Ethereum Games

Powered by the Optimism OP Stack, Redstone enables “autonomous worlds” and other intriguing new types of on-chain Ethereum games.

🎭 SCENE: Bulletproof Cadillac, Butler, and $1.5M Titanic Watch: FTX Exec's Lavish Spending Continues

Former FTX Europe head Patrick Gruhn is spending his crypto riches— but his fortune is not without controversy.

decrypt.co/229212/ftx-exec-lavish-spending-continues-1-5-million-watch-titanic

🤖 EMERGE: We Asked AI to Predict Kentucky Derby Winners—Here Are Its Picks

Decrypt built an AI agent with expertise in horse racing and made it predict the most likely winners for the Kentucky Derby 2024.

📚 Dive Deeper

🎓LEARN: What Is Notcoin? The Telegram-Based Game, NOT Token, and Future Plans

When is the NOT token actually launching? Here's the latest, along with everything else you need to know about Notcoin.

📹 WATCH: Luxury Watches, Designer Shoes Will Soon Trade Like NFTs: Arianee CEO

Arianee CEO Pierre-Nicolas Hurstel sat down with Rug Radio founder Farokh and Decrypt’s Sander Lutz at NFT Paris to discuss everything from the future of on-chain luxury to the secret hack to finding the best restaurants in France.