Following a brief period of net outflows preceding Bitcoin’s block-reward halving, spot bitcoin exchange-traded funds (ETFs) in the United States have returned to net inflows, with Fidelity’s Wise Origin Bitcoin Fund (FBTC) leading the way.

On Monday, spot Bitcoin ETFs collectively experienced net inflows exceeding $62 million, with FBTC securing the largest single-day net inflow of $34.83 million. The ARK 21Shares Bitcoin ETF and The iShares Bitcoin Trust also saw substantial net inflows of over $22.5 million and $19.65 million, respectively.

In contrast, the Grayscale Bitcoin Trust witnessed the largest single-day net outflow, with nearly $35 million exiting the product. However, since their inception, U.S.-traded spot bitcoin ETFs have amassed a cumulative total net inflow of $12.38 billion, indicating continued investor interest.

BlackRock’s IBIT ETF, known for its consistent inflows, extended its streak for the 70th consecutive day on Monday, solidifying its position among the top 10 ETFs with the longest streaks of daily inflows. IBIT currently commands a market share of nearly 54% among spot bitcoin ETFs.

Despite recent fluctuations, the price of Bitcoin remains resilient, hovering above $66,200 as reported by The Block’s Bitcoin Price Page. This stability in bitcoin’s price underscores ongoing investor confidence in the digital asset and its associated investment vehicles.

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Bitcoin’s recent halving, completed on April 19, may not immediately impact market dynamics, with analysts suggesting a potential two-month wait for significant effects. Despite an 8% increase in bitcoin’s spot price since the halving, experts anticipate a delay in supply and demand adjustments.

Analysts at QCP Capital suggest that historical patterns indicate a delay of around two to three months before the halving’s supply constraints translate into notable price movements. This suggests that bitcoin bulls may have additional time to build larger long positions.

Bitfinex analysts highlight the post-halving reduction in bitcoin supply issuance, which could stabilize prices and potentially lead to further appreciation. However, they caution that geopolitical turmoil, particularly in the Middle East, could impact Bitcoin’s long-term valuation.

Additionally, the Bitfinex Alpha report notes potential stabilization in demand from spot bitcoin ETFs, which have been a significant driver of market activity. However, recent outflows from ETFs suggest a possible slowdown in demand.

Meanwhile, QCP Capital analysts anticipate a short squeeze in the altcoin and memecoin market in the short term. Persistent negative funding in these markets, coupled with potential fluctuations in demand, could lead to increased volatility.

While the overall memecoin market has seen a slight uptick in market cap, top memecoins like dogecoin, shiba inu, and dogwifhat have experienced minor declines in the past 24 hours, reflecting ongoing market fluctuations.

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Binance, one of the world’s largest cryptocurrency exchanges, is embroiled in a new legal battle in Canada as a class-action lawsuit alleges violations of securities laws. Ontario’s Superior Court of Justice published a certification motion for the lawsuit on April 19, reigniting legal scrutiny against the exchange.

The lawsuit accuses Binance of selling cryptocurrency derivative products to retail investors without proper registration, in violation of Ontario Securities Act (OSA) and federal laws. Plaintiffs represented by Christopher Lochan and Jeremy Leeder seek damages and recissions of unlawful derivative trades for Canadian Binance users, numbering in the tens of thousands.

This legal action comes after Binance announced plans to cease operations in Ontario in response to regulatory warnings from the Ontario Securities Commission (OSC) in 2023. Despite this announcement, the OSC’s investigation into Binance remains ongoing, highlighting continued regulatory scrutiny.

The lawsuit further tarnishes Binance’s reputation, already marred by previous controversies, including former CEO Changpeng Zhao’s guilty plea to US anti-money laundering violations in 2021. Although current CEO Richard Teng has made efforts to steer Binance towards regulatory compliance, including securing a Dubai crypto license, the exchange’s past regulatory issues continue to overshadow its progress.

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In the wake of the memecoin frenzy, over $25 million invested in pre-sold Solana memecoins has been left stranded, with more than half of the top projects abandoned within just one month.

ZachXBT’s investigation identified 12 Solana memecoin projects that have been deserted by their founders, leaving investors in the lurch. Solana Co-Founder Anatoly Yakovenko expressed skepticism towards the trend, stating, “Pre-selling a meme doesn’t make any sense to begin with.” Yakovenko previously cautioned against investing in memecoin pre-sales, highlighting the riskiness of such endeavors.

Of the 22 projects initially scrutinized, ZachXBT revealed that 12 have already been deserted within a month. Notable among these are LIKE, MOONKE, FROG, TEMPLE, and SORRY, which collectively raised over $2 million. Other projects, including those like @Jared_eth, raised substantial funds without even launching a token, with one account flagged as compromised by the web3 security platform Pocket Universe.

The memecoin frenzy has now shifted to the Coinbase-backed Base blockchain, indicating a lack of lessons learned from the Solana debacle, according to ZachXBT.

Meanwhile, the price of SOL, Solana’s native token, has witnessed a significant decline since the memecoin boom. Although SOL surged to over $200 during the peak of the frenzy, largely fueled by memecoin speculation, it has since plummeted to $154 as of the latest data. This represents a 23% decrease, despite SOL having already bounced back approximately 30% from its recent low of $117 on April 13.

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