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Bitcoin drove a surge in crypto markets this week, and traders are betting prices will skyrocket in coming months.

Traders are wagering that Bitcoin will rise to $55,000 and beyond by June. Options activity shows a bullish tilt from June onwards, following Bitcoin’s halving event.

Miners stole headlines earlier in the week by offloading a record $577 million Bitcoin in one day. More selling is “imminent,” according to analysts at crypto exchange Bitfinex.

Excitement around Bitcoin exchange-traded funds has tapered off, following a barnstorming January, when 10 ETFs launched in the US for the first time.

Despite the market turning its focus to macroeconomic factors and Bitcoin-centric issues like the halving, BlackRock and Fidelity continued to quietly gobble up the Bitcoin ETF market.

Now Grayscale is losing its liquidity advantage over its traditional finance rivals, JPMorgan says.

This could lead to billions more exiting the fund in the coming months, the investment bank added.

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On the way to ETF approval, Grayscale's Bitcoin Trust often deviated from the price of Bitcoin. Those deviations made heroes of some crafty funds, and widows of others. A Kentucky-based fund, Aristides Capital, was a big winner of the Grayscale trade.

How 20 million GoDaddy users can finally add Ethereum to their websites

After several years examining blockchain technology, GoDaddy took the plunge this week. The domain registry giant selected Ethereum Name Service among a host of competitors in the industry.

EigenLayer has gobbled up nearly 1.5% of the total Ethereum token supply

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Post of the week

One of Fintwit’s most popular accounts was revealed this week to be a former Jefferies investment banker, causing a stir on social media.