"No darkness lasts forever."
-Ursula K. Le Guin
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Happy Monday Folks! Bitcoin is trading up at $43,227.11. Over the weekend we saw Travis Kling tweeting about $BTC and $ETH having a free walk to ATH and "financial nihilism" is driving American Crypto investors to accumulate Altcoins.(2) Today, Nayib Bukele has won re-election, let's the building of the Bitcoin City begin!(3) Not much news this morning...
Bitcoin's price action is still undecided and trading in a very narrow range and is feeling good pushing higher this morning; it's it a new dawn? Markus Thielen believes Bitcoin will reach $70K by end of 2024. Bitcoin will be scarcer than Gold after the halving in April. There is a chance that when the Fed does cut rates (possibly in May) it could boost the price of Bitcoin. ProShares Futures ETF benefits from Spot ETFs. Speaking of ETFs, $700M net inflows as BlackRock and Fidelity gains offset GBTC outflows.(3) It appears that Genesis wants to sell $1.3B of GBTC.(2) Bitcoin mining "hit piece" by NYT is being called out by Daniel Batten. Will only Marathon and Iris survive the halving?
Scammers are now using deepfakes on conference calls and convinced an employee to transfer $25M in funds. Scammers are also faking to be Coindesk journalist so be careful!
AFTERNOON
Bitcoin saw some wild action this morning, popping above $43K and then swiftly pulling back down; settling down around $42.6K. Vast bank is exiting the Crypto space. Cathie Wood is now saying that Bitcoin is a substitute for Gold.(2) A Judge has basically told Ripple to turn over financial statements and contracts to the SEC that governs the institutional sales of $XRP.(3) Tether hit $96B in market cap following a record-breaking net profit in Q4 of 2023.
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Podcast of the Day: The Most Bullish Case For Bitcoin Ever Presented | Edan Yago | TWOAS
