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Top Performing Assets (24 Hours): $BTC -0.99% | $LINK -1.03% | $BNB -1.76%
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Happy Monday Folks and Congrats to the Kansas City Chiefs! Bitcoin is trading up at $47,894.11. Over the weekend the sentiment has changed and a new narrative has arrived: $100K before the end of 2024 if not before the halving. Today, Orr, NZ Governor, doesn't think Stablecoins or Bitcoin could be a medium of exchange.(5) Not much news this morning...
With Bitcoin having its best weekly close since 2021, Arthur Hayes is revising his short-term bearish stance and is now saying $BTC will hit all time high this year. He's not alone because even Grayscale also says Bitcoin is stronger ahead of the halving. Andrew Kang, Mechanism Capital partner, predicts that long-term demand for Bitcoin in 2024 would be between $40-$130 Billion; this alone could push $BTC to ATH. "Very small" Bitcoin exposure is what BlackRock is thinking now. 91% of Bitcoiners are in profit as Bitcoin is trading right around $48K.
Ethereum gas fees hit 8-month high amid experimental token standard ERC-404 craze. $DOGE has lost top 10 status with Link surging back into the top 10.
EVENING
Bitcoin continues to rally strong, nearing $51K(6), as Bitcoin Miners and MicroStrategy continues to perform well; GBTC sales have slowed. John Bollinger said that the Bitcoin's price is hitting the upper bands and that is bullish but as it continue to walk up the upper band pull backs can happen; especially once those who bought at these levels break even. Bitcoin Whales continue to chomp on $BTC snapping up $6B worth in the past 3 weeks. Even Digital asset funds (ETF) start the week with $1.1B inflows.(3) Even Snowden is paying attention saying while everyone was watching the SuperBowl he was watching the Bitcoin charts.
Valkyrie doesn't feel the need to publish their Bitcoin ETF wallet address and Franklin Templeton has joined the Ethereum ETF race.(3)
WATCH
LISTEN
Podcast of the Day: Bitcoin ETF Inflows Continue | Weekly Roundup | OTM
