"Success is the sum of small efforts - repeated day in and day out."
–Robert Collier
Powered by Wubits - better than X because it's real people, real connections, and real conversations.
READ
It's Frriiddaayyy Folks! Bitcoin is trading down at $64,266 and down $3.5K from a week ago. One thing for sure is that volatility will pick up today and through the weekend. Some believe this could be a bull trap above $66K and other believe a "Super Cycle" is coming; it's all about timing. Trezor security breach was caused by phishing not sim swapping.
CURRENT NEWS
Today, Based on on-chain data, a Bitcoin whale that has been accumulating on Bitcoin's dip has made a significant purchase, acquiring 673 BTC. Amidst the inflation crisis in Argentina it appears people are turning to Bitcoin; gold investors could be doing the same. Ripple CEO Brad Garlinghouse says that the SEC "will lose the war against $ETH just as they lost against $XRP."(2) Tether (USDT), the crypto ecosystem’s dominant stablecoin, has added over $5.25 billion to its market capitalization since the start of March. Regulators are asking Congress for more money to beef up Crypto enforcement so over the next few years look for more oversight and restrictions. Meanwhile, WisdomTree gets the regulatory green light in NYC to offer it's "blockchain-enabled" financial app.(3) The Bitcoin Company has unveiled its new Remittances API, allowing individuals and financial institutions to send instant payments to any bank account in Mexico and Brazil in under 1 second.
MID-DAY
Bitcoin is on a 7-month win streak and the BTC Futures open interest tops $36B bringing more volatility. Robert Mitchnick, head of digital assets at BlackRock, emphasized that Bitcoin remains, overwhelmingly, the top priority for BlackRock's clients, with minimal interest in other cryptocurrencies.(2)
WATCH
LISTEN
Podcasts of the Day: #1331 Solo Episode | Bitcoin Supercycle Incoming? | The Pomp Podcast
TIME MACHINE
A month 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 few weeks, Gemini will made their customers whole by returning 100% of the funds to those who participated in the Earn program.(7) A couple weeks ag, 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. Last week, 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. Also, Bitcoin may had fallen to its lowest levels in over a week, but BTC price optimism was 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. Yesterday, Brian Armstrong was getting a lot of press for defending the $ETH ETF so let's see where this goes.(4)
Top Performing Assets Last Week (24 Hours): $SOL -1.60% | $BNB -5.37% | $BTC -7.39%
Top Performing Assets A Couple Weeks Ago (24 Hours):$SOL 14.53% | $BNB 10.75% | $ETH 4.04%
Top Performing Assets A Few Weeks Ago (24 Hours): $ETH -0.94% | $ADA -0.94% | $BTC -1.37%
