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Happy Tuesday Folks! Bitcoin is trading down at $62,268. Now many who were thinking it's too late, let's see if they buy the dip once it settled; prolly not.
JUST IN: MicroStrategy buys the top once again between 11 Mar - 18 Mar - another $623M with of $BTC.(3)
CURRENT NEWS
Today, actual news continue to be sparse. 90% of the news published is focused solely on the price of Bitcoin or other altcoins and 90% of those are from the so called ANALyst and Crypto Twitter (CT) personalities. As Bitcoin reached a feverish $73K the up only narrative and $100K by halving day ruled the airwaves and now the pull back; retracement. Meanwhile, Japan's state pension fund, GPIF, is seeking information about Bitcoin as part of a broader strategy initiated in response to significant economic and societal changes and technological advancements.(2)
Grayscale CEO believes they will continue to lower their ETF fees over time.
Ripple CTO David Schwartz has clarified that the XRPL AMM will support various cryptocurrencies, not just XRP and the XRPL Automated Market Maker is set to go live in three days, aiming to enhance the liquidity of the XRP Ledger. Despite supporting multiple assets, XRP is expected to be the most popular in AMM pools due to its primary role in the network.
MID-DAY
Microstrategy now controls 1% of all the Bitcoin that is in existence.
WATCH
LISTEN
Podcasts of the Day: The Maturing Bitcoin Narrative with Grant McCarty | WBD
TIME MACHINE
A month ago, Edward Snowden called Bitcoin the "most significant monetary advance since the creation of coinage"(3) and Ethereum continued its strong run, pushing higher toward $3K and it hit shortly after publishing.(5) A few weeks ago, I said...Bitcoin continued to struggle right around $52.5K. If it can break that level I believe we will see high $60K - guess what? Went much higher than I ever imagined! It jumped over $57K and adding $140B daily; liquidating the shorts.(4) In addition, MicroStrategy slammed the buy button once again to the tune of $155M worth of $BTC!(6) a couple weeks ago, Bitcoin ETF inflows reached $562M as Bitcoin was eyeing all-time highs but within inches it pulls back to $66K ($500M in long liquidations (2)) and is once again trying to rally back up; traders dismiss a triple top. BOOM! ATH reached .... and it's gone. lol (5) 100% of Bitcoin wallets are now in profit. 45% of all Bitcoin hasn't moved in more than 3 years. Bitcoin has flipped Silver. Last week, MicroStrategy announced that it has completed its previously announced offering of 0.625% convertible senior notes due 2030 on March 8, 2024 and bought another 12,000 $BTC after raising over $800M from those convertible notes.(6) Yesterday, Bitcoin whales were "increasingly cashing out," but the number of new “millionaire” wallets for Bitcoin (BTC) has risen to about 1,500 daily after the cryptocurrency’s price surged to $72,000 recently. However, this increase is modest compared to the daily creation of new millionaires during the previous bull market.(2) Biden proposes 30% tax on crypto mining electricity to address environmental concerns and the tax to be introduced over three years, aiming to reduce mining's environmental impact; critics argue the move could stifle US crypto industry growth, citing alternative motives.(2)
Top Performing Assets Last Week (24 Hours): $XRP 12.22% | $SOL 1.60% | $ADA 1.48%
Top Performing Assets Couple Weeks Ago (24 Hours): $SHIB 57.83% | $DOGE 14.39% | $ETH 7.08%
Top Performing Assets Few Weeks Ago (24 Hours): $DOGE 11.74% | $BTC 10.66% | $SOL 10.27%
