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Top Performing Assets (24 Hours): $ETH 3.02% | $BNB 1.68% | $BTC -0.08%
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Guess what day it is Folks? HUMPDAY! Bitcoin is trading up at $66,535 after touching the all-time high at $69K and then swiftly pulling back yesterday. Will Bitcoin be able to fully recover and blast back through all-time highs once again?
TIME MACHINE
A few weeks ago, Peter Thiel's Founders Fund invested $200M in Bitcoin and Ethereum demonstrating confidence in crypto and Bitcoin crossed $1T in market cap for the second time in history and it remains still above that. Now Bitcoin along is pushing $1.3T and the entire MarketCap is at $2.5T. A couple weeks ago, Ethereum continued its strong run, pushing higher above $3K(5) and today it's nearing $4K. Last week, the Spot Bitcoin ETFs had accumulated over 300K $BTC as net inflows rose to $6B(8) and it's was all about price as Bitcoin surges past $59K with retail still asleep, it reached $60K and FOMO kicked in; the market hit extreme greed!(3)
Top Performing Assets Last Week (24 Hours): $BTC 4.46% | $XRP 4.27% | $BNB 3.84%
CURRENT NEWS
Yesterday, the Group of Nine Bitcoin Spot ETFs inflows reached $562M (with $10B trading volume) and the night before we learned that MicroStrategy is preparing to buy $600M more in Bitcoin; they've increased to $700M. Today, Bitcoin is a 10x improvement over Gold says Anthony Pompliano. Bernstein estimates that the Group of Nine ETFs will amass $650B; currently at $48B. BlackRock's Bitcoin ETF has added $778M in BTC amid the run up to ATH; which wouldn't have happened without the ETFs says experts.
$ETH hit $3.8K for the first time since Dec 2021.
MID-DAY
Bitcoin's "V-shaped" recovery opens a path toward $76K. BlacRock is aiming to add their Spot Bitcoin ETF to their in-house investment fund. IRS will begin targeting Bitcoin and Crypto traders this will help ensure they are paying their taxes on the money they gain. State of Arizona is considering adding the ability for investments into Bitcoin ETF products.
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Podcasts of the Day: BTC172: Macro Outlook Q1 2024 w/ Luke Gromen | Bitcoin Fundamentals