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Guess what day it is Folks? HUMPDAY! Bitcoin is trading up at $63,061 after dropping as low as $60.8K
CURRENT NEWS
Today, the news continues to be as scarce as Bitcoins. Bitcoin on exchanges hits a 4-year low and the demand for Bitcoin continues to increase; will there be a supercycle? At the same time, record outflows from Grayscale's GBTC appears to be keeping downward pressure on the price for now. Bitcoin miners' reserves drop to April lows - just like the price of Bitcoin due to profit taking; the halving is now scheduled to take place on the 15 of April.
The SEC once again delays the $ETH ETF and appears to be ready to classify $ETH as a security.(2) BlackRock launches a digital fund with $100 million on Ethereum, hinting at Real-World Assets (RWA) focus.(3) The Swiss-based non-profit Ethereum Foundation, a key organization in the Ethereum ecosystem, is currently being investigated by an unidentified government agency. The battle between the SEC and Ripple continues with both parties agreeing to seal certain information from the public. Cardano has added 40,000 smart contracts in 2024.
MID-DAY
The Fed left rates alone and that changed the sentiment on Crypto Twitter to bullish once again.
WATCH
LISTEN
Podcasts of the Day: BTC174: Is Bitcoin Property, Currency, or Both? w/ Parker Lewis & Will Cole | Bitcoin Fundamentals
TIME MACHINE
A month ago, 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) A few weeks ago, 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 and Bitcoin had a 10x improvement over Gold says Anthony Pompliano. A couple weeks ago, Bitcoin whales "increasingly cashed 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) Last week, Bitcoin nails new all-time high at $73.6K(2) as ETFs continue to eat away at supply; retail HODLers sees massive increase with 277K new accounts. Bitcoin ETFs break another record with $1B inflows in a single day.(2) Tim Draper predicts that El Salvador will become rich and innovative thanks to Bitcoin. Jamie Dimon says he will never buy Bitcoin. Coinbase is raising $1B with convertible notes to pay off other convertible notes.(5) Drake is all about the Bitcoin like MicroStrategy. Yesterday, 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)
Top Performing Assets Last Week (24 Hours): $BNB 12.92% | $AVAX 12.12% | $SOL 1.90%
Top Performing Assets Couple Weeks (24 Hours): $ETH 3.02% | $BNB 1.68% | $BTC -0.08%
Top Performing Assets Few Weeks Ago (24 Hours): $BTC 4.46% | $XRP 4.27% | $BNB 3.84%
