[News Brief] Apr 22, morning | Abu Dhabi Sovereign Wealth Fund Mubadala Buys More BlackRock Bitcoin ETF

Abu Dhabi Sovereign Wealth Fund Mubadala Buys More BlackRock Bitcoin ETF

Abu Dhabi sovereign wealth fund Mubadala has increased its holdings of BlackRock’s Bitcoin ETF, pushing the value of its position above $565 million, according to Bitcoin Magazine.

Mubadala is one of the major sovereign wealth funds in the Middle East, and the additional purchase is being interpreted as another example of expanding institutional investment in spot Bitcoin ETFs.

Lombard Migrates More Than $1 Billion in BTC-Collateralized Assets to Chainlink CCIP as a LayerZero Replacement

According to Odaily, DeFi protocol Lombard is gradually discontinuing its use of LayerZero and moving more than $1 billion worth of Bitcoin-collateralized assets to Chainlink’s Cross-Chain Interoperability Protocol (CCIP).

Lombard’s Bitcoin-related tokens include LBTC and BTC.b. The first migration targets are Solana, Etherlink, Berachain, Corn, and TAC, while LayerZero support will also be discontinued on Morph and Swell.

Security concerns around cross-chain infrastructure have intensified after a $292 million hack involving Kelp DAO’s LayerZero bridge. Kelp DAO, Solv Protocol, Li.Fi, and Kraken have also taken similar migration steps, with total affected outflows estimated at around $4 billion.

WTI Crude Oil Rises 3% Intraday to $105.11

Odaily, citing Gate data, reported that WTI crude oil rose 3.00% intraday to trade at $105.11 per barrel.

A sharp rise in international oil prices could heighten inflation and monetary policy concerns, weighing on risk asset sentiment.

Grayscale Research Head Says Prolonged High Rates Could Create Short-Term Pressure on Crypto Markets

Grayscale Research head Zach Pandl said that if U.S. inflation and energy prices continue rising, leading the Federal Reserve to keep interest rates high for longer, it could create short-term pressure on cryptocurrencies including Bitcoin.

According to Odaily, Pandl said the market is assigning low odds to a Fed rate cut before September 2027. He noted that a prolonged high-rate environment raises the carrying cost of non-yielding assets like Bitcoin and could weigh on short-term investor sentiment.

However, he added that positive regulatory developments, including the Clarity Act, could offset some of these headwinds. He also said high interest rates may accelerate the on-chain migration of fixed-income assets such as tokenized bonds, while benefiting interest income for stablecoin issuers like Circle.

Source: Odaily

2,147 BTC Transferred From Unidentified Wallet to Coinbase Institutional

According to Whale Alert, 2,147 BTC was transferred from an unidentified wallet to Coinbase Institutional.

The transfer was worth about $170.52 million. Large inflows to exchanges can be interpreted as a potential sell signal, though in the case of institutional accounts, the transfer may also be for custody or OTC settlement purposes.

1,500 BTC Moved From Coinbase to Anonymous Wallet

According to Whale Alert, 1,500 BTC was transferred from Coinbase to an anonymous wallet. The transaction was valued at about $118.89 million at the time of transfer.

Large movements from exchanges to external wallets are sometimes seen as a sign of easing sell pressure, though the actual purpose remains unclear because the wallet owner is unidentified.

923 BTC Transferred From Anonymous Wallet to Coinbase Institutional

According to Whale Alert, 923 BTC, worth about $73.25 million, was transferred from an anonymous wallet to Coinbase Institutional.

Large transfers to exchanges or institutional accounts may be interpreted as sentiment signals suggesting possible selling, but no actual sale has been confirmed.

787 BTC Transferred From Anonymous Wallet to Coinbase

According to Whale Alert, 787 BTC was transferred from an anonymous wallet to Coinbase, worth about $62.42 million.

Large transfers to exchanges are often interpreted as potential sell signals, but it has not been confirmed whether the assets were actually sold.

24,999 ETH Moved From Kraken to Anonymous Wallet

According to Whale Alert, 24,999 ETH was transferred from Kraken to an anonymous wallet.

The transfer was worth about $55,696,326. Outflows from exchanges to external wallets are sometimes seen as a sign of reduced near-term sell pressure, though a single on-chain transaction is not enough to determine investor intent.

Machi Big Brother Liquidates Most High-Leverage ETH and BTC Long Positions

Odaily, citing Onchain Lens, reported that as the market decline continued, Machi Big Brother liquidated most of his 25x leveraged ETH long and 40x leveraged BTC long positions.

Both positions were liquidated during the period, bringing cumulative losses to about $32 million. Machi Big Brother is currently maintaining only a portion of positions worth roughly $10 million.