Price: $61,445 | Last Year: $30,480
"Bitcoin won’t protect you if you don’t wear the armor." - Michael Saylor, 21 Rules for Bitcoin
It's been a wild two day ride with Bitcoin but it appears things are starting to settle down. Relative strength index is a key technical indicator and it has enters oversold territory suggesting which has always signaled the perfect time to buy the dip. Analyst and trader Ali Martinez echos that sentiment by saying that Bitcoin (BTC) is flashing a bullish signal amid the flagship cryptocurrency resting at a level last witnessed in early May. There is a potential 60% price surge for Bitcoin as it rebounds 5% so far; analysts argue Mt. Gox fears are overblown. Bitcoin price must end June above $56.5K to defend uptrend.
JUST IN: "According to allegations in a last-minute development, the US government transferred 4,000 BTC of the previously confiscated Bitcoins to Coinbase."
Renewed bullishness is expected after this weeks upcoming Bitcoin and Ether $10B options expiry on Friday. Over 25% of options are set to expire "in the money," Deribit's Luuk Strijers told CoinDesk.
Spot Bitcoin ETFs reverse 7-day outflow streak and as of yesterday, the 11 spot Bitcoin funds that debuted in January have seen net inflows of $14.42 billion; Fidelity Investments is leading the pack.
Veteran macro investor Luke Gromen believes that tens of trillions of dollars will move away from the US bond market and into Bitcoin (BTC), gold and stocks. Macro trader and economist Alex Krüger is saying that the macro environment is currently conducive for risk assets such as Bitcoin (BTC), other crypto assets and stocks.
AB Bernstein analysts Gautam Chhugani and Mahika Sapra reportedly think crypto assets could rally if former president Donald Trump wins the 2024 election; I disagree and believe regardless who is elected it will rally. Bitcoiner contributes to Julian Assange’s freedom, pays $500K debt in $BTC.
Wolf of All Streets
Podcast of the Day: #517: Why Eliminating The Income Tax Would Supercharge The US with Peter St. Onge
Ethereum ETF process is ‘going smoothly,’ says SEC’s Gensler. VanEck announces fee waiver until 2025 for Spot Ethereum ETF after 8-A form filing. That means no fees until 2025 or until it reaches $1.5B in assets.
Remy St. Felix of West Palm Beach led violent home invasions to steal cryptocurrencies, targeting multiple states over several months. U.S. State Department Offers New $5M Reward for Missing ‘Cryptoqueen.’
