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Welcome to Thursday Folks! Bitcoin is trading at $66,400 which is flat from yesterday at $66,480 but down from a week ago at $70,717. Will it blast back above $67K headed toward $70K some time this weekend going into the Eclipse on Monday?! I hope you bought this dip. Bitcoin futures markets signal ‘prime buying’ opportunity soon.
CURRENT NEWS
Today, Bitcoin taps $67.5K as 2% BTC price gains accompany US jobless claims. IF this is true (due to the source I received it from) this could be very interesting. Hut 8, one of the leading publicly traded Bitcoin mining companies in the United States, announced that major banks have recently reached out to the company with requests to purchase Bitcoin directly from the miner. Unprofitable BTC miners are turning their machines back on. Crypto bull run ignites surge in job listings, salary increases.
Cathie Wood believes Bitcoin is an insurance policy against rogue regimes. Dan Tapiero believes that we are at the convergence of public companies and central banks adopting $BTC. Morgan Stanley wants to beat UBS to become first Bitcoin ETF bank; as it add ETFs to its platforms next week.(2) Franklin Templeton believes ordinals drive "positive momentum" in Bitcoin innovation. Galaxy Digital has launched a $100M fund for Crypto projects.(3) Bitcoin ETFs are igniting financial revolution, surging 283% in single day.
Ethereum layer 2s to hit $1T market cap by 2030 says Van Eck;(4) the next big thing?
Ripple is going to launch a Stablecoin on Ethereum.(7) PayPal opens PYUSD stablecoin to U.S. dollar conversions for cross-border transfers.
MID-DAY
US government moves over $131,000,000 in Bitcoin to Coinbase as it offloads seized BTC according to on-chain data.
WATCH
LISTEN
Podcasts of the Day: #1337 Cathie Wood | Bitcoin Could Reach $1.5 Million | TPP
TIME MACHINE
A month ago, Bitcoin had a "V-shaped" recovery which opened a path toward $76K.
A few weeks ago, Arizona lawmakers cited rapid growth of the Spot Bitcoin ETFs as a reason to add them to retirement portfolios(3) and Bitcoin hit yet another high, tapping $73.8K and beware of Bitcoin's 'rising wedge,' says Josh Olszewicz which tends to be bearish but if a pull back does happen it will prob be short lived.
A couple weeks, BlackRock launched a digital fund with $100 million on Ethereum, hinting at Real-World Assets (RWA) focus(3) and J-Pow decided to leave rates unchanged and that apparently sparked a rally which has since cooled off this morning.
Last week, KuCoin got charged for "multibillion-dollar criminal conspiracy"(8) and the overwhelming demand for Bitcoin spot ETFs over the past two months is likely to continue for many years, predicts Bitwise CIO Matt Hougan; Inflows could eclipse $1T.(6)
Yesterday, Bitcoin dropped to $64.5K and data reveals strong confidence and potential buying opportunities amid Bitcoin dip as the 2024 halving could usher in a new era for Bitcoin.
