"In this world nothing can be said to be certain, except death and taxes."
-Benjamin Franklin
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Happy Monday Folks! Bitcoin is trading down at $66,604 from over the weekend at $67,712 and down from $69,468 a week ago; let's see where this week takes it.
CURRENT NEWS
Today, Bitcoin jumps back above $66K(2) after nearly $1B was liquidated across the Crypto market following Friday's massacre. However, Blockchain analytics firm says $BTC is still in a “euphoria phase” despite its recent correction based on on-chain metrics. Bitcoin ETFs have been approved in Hong Kong.(12) Satoshi-Era Whale awakens moving 50 $BTC worth millions after 14 years of being dormant.(3) Bitcoin Halving 2024 will be an ‘explosive cocktail’ from reduced supply and spot ETF demand, says Nexo Co-Founder Antoni Trenchev. Norway wants to restrict Crypto Mining by regulating data centers.(2)
Whales buying Ethereum like crazy amid $ETH price drop. Solana's mainnet beta update v1.17.31 aims to resolve congestion issues.(2) Toncoin ($TON) shoots 16%, uutshines Dogecoin ($DOGE) in epic move.
Germany's largest federal bank, Landesbank Baden-Württemberg (LBBW), plans to start offering cryptocurrency custody services in partnership with the Bitpanda exchange.(4)
IRS targets crypto tax evasion as April 15 deadline nears and Chainalysis aids IRS in combatting crypto-related fraud; IRS hires experts to bolster crypto tax compliance efforts.
MID-DAY
Bitcoin Whale snaps up $16 Million worth of $BTC following price crash. Bitcoin futures and options signal investors’ confidence was not meaningfully impacted by BTC’s recent dip to $61,500. Bitcoin emerges as an alternative and the “best tool” for saving in this new economic era compared to traditional assets, a new research report from Unchained claims. According to a chart provided by Eric Balchunas, Bloomberg's senior ETF analyst, BlackRock's iShares Bitcoin ETF (IBIT) has managed to secure 64 consecutive days of inflows. However, Crypto funds see $110M in Bitcoin outflows as BTC price drops and investors risk off.
WATCH
LISTEN
Podcasts of the Day: If You Own Crypto, Here Is How You Should Store It | Jameson Lopp, Casa | TWOAS
TIME MACHINE
A month ago, Analyst were concerned about the recent pullback and indicating where the bottom support would be and we had less than 5000 blocks left before the Bitcoin mining reward gets reduced by 50%; or cut in half aka "the halving." Historically, every Bitcoin halving — a disinflationary mechanism inscribed in the currency’s code by Satoshi Nakamoto — has come a year or two before a new all-time high; this time is different.
A few weeks ago, Goldman Sachs' says clients are showing more interest in the Cryptocurrency markets again.(5)
A couple weeks ago, UK had frozen $7.6M worth of Craig Wright's (Faketoshi) assets.(5)
Last week, Bitcoin mining companies had increased their selling activity but were still facing challenges like lower transaction fees and increasing mining competition.(2)
Over the Weekend, nothing worth reporting really happened other than the price being down.
