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Welcome to Thursday Folks! Yesterday, the Fed raised interest rates and the markets experienced some jitters as Bitcoin pushed a bit higher above $29K; $28.5K could be out of the picture now. In addition, DOGE was the most talked about asset. The best performing asset in the past 24 hours continues to be $SOL - up 6.55% and in position #9 on Coinmarketcap.com. Let's jump into the news...
The Fifth Crypto Cycle - Part 2: Paving the Roads of a New Digital World
A&G, a Spain-based banking entity focused on private banking, launched the first crypto fund under Spanish jurisprudence.
Bitcoin is holding above $29,000 after cooler-than-expected inflation data “stimulated emerging assets, including crypto,” an analyst claims. Ki Young Ju says that Bitcoin is still in a bull cycle due to the low selling pressure being witnessed as a result of the majority of the BTC acquired or mined more than six months ago remaining static. Bitcoin is facing the prospect of a “big bull move” as Stablecoin buying power returns, on-chain data hints. Bitcoin may reach $300K by 2028 halving, says Mark Yusko, $1.6B Asset Manager Morgan Creek Capital Management founder, who expects bitcoin to catch up to gold's valuation.
However, as the market anticipates a potential price rebound beyond the $30,000 mark, historical data suggests that Bitcoin might encounter a bumpy ride in the upcoming months. But keep in mind that institutional movers could be looking to hold bitcoin on their balance sheets ahead of the next halving and their larger play is to develop financial products for accredited investors and their “normal” customers to access bitcoin.
Meanwhile, Robert F. Kennedy Jr. says he bought 14 Bitcoin for his kids and blasted banks for succumbing to political pressure and after the price of Bitcoin ($BTC) fell under the $30,000 mark, an impressive 68.96% of Bitcoin holders clung to the green, maintaining a floating profit, with data suggesting over 3.4 million BTC addresses invested near that mark to buy the dip.
At the end of the day, Bitcoin doesn’t need to change, but…the idea that there is only one path forward is simply too restrictive of a view for something as important as Bitcoin
Ethereum price is recovering above the $1,850 zone against the US Dollar. ETH could restart its decline if there is no move above the $1,900 resistance. Chad Steingraber, a known figure in the XRP community, theory explores the idea of XRP becoming a reserve asset, similar to gold, for banks and institutional liquidity providers. The collab between ConsenSys-backed Palm Network and Polygon aims to drop costs and improve efficiency for creators and brands entering Web3.
Two crypto regulatory bills (Financial Innovation and Technology for the 21st Century Act & Blockchain Regulatory Certainty Act) have been passed by the United States House Financial Services Committee United States in one day; huge win for Crypto. Brian Armstrong said that voting Yes to the bill would protect innovation and national security in the United States. A bipartisan agreement on stablecoin legislation was in reach, according to the chair of the House Financial Services Committee, but the ranking Democrat said McHenry halted talks.
Lazarus Group suspected by CoinsPaid of $37 million hack. A Reddit user has become the latest example of why crypto users should be more careful when using wallet generators after the user lost a few thousand dollars worth of Bitcoin from their “secure” paper wallet. In addition, an early Bitcoin adopter lost his entire stash to a dodgy wallet more than five years ago — and he says he knows exactly who did it.
WATCH
LISTEN
Podcast of the Day: Read_752 - Bitcoin Becomes the Flag of Technology [Balaji S. Srinivasan] | Bitcoin Audible
Other Podcast:
- Bitcoin & Freedom With Robert F. Kennedy Jr. | TWOAS
- Prime Trust & the Risk of Bitcoin Custodians with Alex Leishman | WBD
- Mining Through the Bitcoin Halving | Bitcoin Magazine
- SLP495 Joe Carlasare - Bitcoin ETF? Lawsuits and Bitcoin | SLP
- Balaji Srinivasan: Crypto Networks, Sovereignty & Decentralization with Akshay BD | OTM
- BlackRock's "Optimal Bitcoin Allocation," Bitcoin Network Effects and OTEC Bitcoin Mining with OceanBit Co-Founder and CEO, Natan Harmon | TCBP
Source:
Crypto Fund (Coindesk)
Bitcoin Price (TB | Cointelegraph)
Bitcoin Analysis (TDH | Cointelegraph | Finbold | TB | Blockworks | Coindesk)
Institutional Demand (Bitcoin Magazine)
RFK Jr. (Decrypt | Coindesk | Cryptoglobe | Cointelegraph)
Ethereum Price (NewsBTC)
XRP a reserve asset? (Cryptoglobe)
Palm Network (Decrypt | TB | Cointelegraph | Coindesk)
House Bills (Cointelegraph | Coindesk | Cointelegraph | Coindesk | TB | Blockworks | Cointelegraph | Cointelegraph | TB | TDH | Blockworks | Cointelegraph)
CoinsPaid Hack (TB | Cointelegraph | CryptoPotato)
Hacked Bitcoin Wallet (Cointelegraph | Blockworks)
