Sirwin
Sirwin

15 Mar: The Pullback


"Flexibility alone is not a great strategy, but the lack of it can ruin one."
 –James Clear

Powered by Wubits - better than X because it's real people, real connections, and real conversations.

Top Performing Assets (24 Hours): $SOL -1.60% | $BNB -5.37% | $BTC -7.39% 

READ

It's Frriiddaayyy Folks! Bitcoin is trading down at $67,805 and that is exactly where it was trading this time last week; funny how things can change so fast in one week. 

CURRENT NEWS

Today, Bitcoin may have fallen to its lowest levels in over a week, but BTC price optimism is anything but fading. Bitcoin fell below $67,000 as Grayscale moved over $400M in BTC to Coinbase and ETF inflows dropped by 80% in 24 hours(2); was $74K a cycle top and will this lead to a 20% correction? Will it go down to $45K - some believe it's possible. 

Mike Novogratz says that if outflows from spot market ETFs starts to exceed inflows this will lead to a correction. A fifth of US voters have bought crypto, Paradigm survey finds. El Salvador Bitcoin treasury is a lot bigger than we knew and they've moved about five thousand coins to cold storage.(3) Analyst Willy Woo predicts 1 billion Bitcoin holders by 2025, expecting a growth trajectory surpassing the early Internet's. JMP Securities forecasts Bitcoin could hit $280,000, driven by a $220 billion investment in Bitcoin ETFs over three years. However, Gold investors aren't switching into Bitcoin according to JP Morgan.

VanEck believes that $ETH ETFs could be bigger than Bitcoin ETFs.(2) Ethereum ecosystem needs a major mindset shift for global impact, says Vitalik Buterin. Swiss firm launched fully backed Cardano staking ETP. 

A $300M Ponzi Scheme that targeted Latinos falsely claimed to buy Crypto, according to the SEC.

MID-DAY

The market is attempting a rally with Bitcoin and Ethereum bouncing back (derivatives showing strength), while Solana continues to break all-time highs. According to on-chain analytics firm IntoTheBlock, a staggering $750 million worth of Bitcoin (BTC) was withdrawn from various crypto exchanges on March 14, as Bitcoin rose to a fresh all-time peak of almost $73,798.

Michael Saylor's MicroStrategy prices upsized $525M debt offering to buy more Bitcoin.(2) While, United States leads all countries with a staggering $9,360,000,000 worth of Crypto gains in 2023; imagine that?? Could you imagine if they continued to HODL and buy more? Wealth manager Cetera adds spot BTC ETFs to it platform, with training.

WATCH

LISTEN

Podcasts of the Day: ETH Dencun Upgrade Transforms Blockchain Fee Competition | The Breakdown

TIME MACHINE

A month ago, Bitcoin ETFs inflows were larger than the first 4 weeks; $2.2B and Bitcoin and Ethereum were 51% attack proof.(3) A few weeks ago, Coinbase begun fighting for the $ETH ETF saying it's not a security(3) and Reddit followed in the shoes of MicroStrategy and put their excess cash into $BTC and $ETH.(4) A couple weeks, Gemini will made their customers whole by returning 100% of the funds to those who participated in the Earn program.(7) Last week, Arizona lawmakers cited rapid growth of the Spot Bitcoin ETFs as a reason to add them to retirement portfolios(3) and Gary Gensler refused to answer if $ETH is a security(3) and Bitcoin broke an ATH of $70K. Yesterday, 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. 

Top Performing Assets (24 Hours):$SOL 14.53% | $BNB 10.75% | $ETH 4.04% 
Top Performing Assets Last Week (24 Hours):
$ETH -0.94% | $ADA -0.94% | $BTC -1.37% 

 

How do you rate this article?

34


TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


The Crypto Curator
The Crypto Curator

I've been exposed to the world of crypto since 2011. Now I use my knowledge to curate the most relevant news articles, podcast, videos, blogs and social media information to help you be in the know in Crypto!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.