Sirwin
Sirwin

29 Feb: Made Whole!


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 –Robert Byrne

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Welcome to Thursday Folks! Bitcoin is trading down at $51,615 and is struggling to get back above $52K. Let's get on with the news...

TIME MACHINE

A couple of week ago, Bitcoin crossed $1T for the second time in history(4) and it hit $52K; possibly $55.4K soon in the US and a new all-time-high in Japan.(2) Who could have seen us going to $64K this fast? Last week, Cardano founder Charles Hoskinson was battling with Arthur Hayes about his demeaning comments about Cardano(3) and Coinbase was fighting for the $ETH ETF saying it's not a security.(3)   

CURRENT NEWS

Yesterday, $60K achieved and even surged to $64K as the market reached extreme greed!(3) Today, Gemini will make their customers whole by returning 100% of the funds to those who participated in the Earn program.(7)

Bitcoin price is surging ahead of the halving but the network fees aren't keeping pace. But it's important to not get 100% bought into up always because the TD Sequential has flashed a sell signal on the 4-hour chart. 

As Crypto miners continue to sell their Bitcoin(2) as the reward halving looms the Group of Nine continue absorbing ever Bitcoin and then some; hitting a record 7.7B in trading volume. Case in point, Alex Thorn of Galaxy said this: “The BTC ETFs took in a whopping net $576m of BTC yesterday (Tuesday Feb. 27), with BlackRock alone seeing $520m of inflows, its largest ever day.” Edward Snowden believes a country is buying Bitcoin. El Salvador reaches $60M in profits and said they would never sell like Michael Saylor.(3) Sergey Nazarov believes that Bitcoin ETFs are just the beginning before banks launch massive tokenization campaigns. Mike McGlone says that "Bitcoin is becoming an alternative currency on a global basis." 

Predictions: Samson Mow thinks $BTC reaches all-time high before the weekend. Anthony Scarmucci believes $BTC could achieve $200K by the end of this run; about 18 months from now. Hunter Horsley believes it will rise to $250K. JPMorgan and BKCM believes $BTC will drop to $42K after the halving.(3) 

Marathon unveils Bitcoin layer 2 network Anduro which could allow miners to earn revenue from sidechain transactions while continuing to mind $BTC.(2) Braiins has added Lightning as an option for miners in mining pools to receive payments. 

Rotation from Bitcoin and Ethereum into Solana is the next trade according to Brian Kelly at CNBC; Solana is up 13%. 

Chamber of Digital Commerce is backing Kraken in it's fight with the SEC. Did Coinbase crashed because Bitcoin surged to $64K or did Bitcoin to crash because Coinbase accounts reflexed zero and folks got concerned? Meanwhile, they've recovered and operating back to normal.(4)

Senenca, the decentralized lending platform, exploited for $6.4M.

MID-DAY

BlackRock is taking the IBIT ETF to Brazil! Merrill Lynch to offer the Group of Nine Spot Bitcoin ETFs to their clients.(3) This time might truly be different as Marathon is looking to deploy about $1B to double hash rate. Grayscale continues to lobby for option ETFs on Spot. Solana is on fire rn up 11% on the day. 

WATCH 

LISTEN

Podcasts of the Day: Bitcoin is Above $60,000 and People are Finally Paying Attention | The Breakdown

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TheCryptoCurator
TheCryptoCurator

I've been aware of Bitcoin since 2011 and my desire is that you will be better informed about the digital asset industry by reading my daily post.


The Crypto Curator
The Crypto Curator

I've been exposed to the world of crypto since 2011. Now I use my knowledge to curate the most relevant news articles, podcast, videos, blogs and social media information to help you be in the know in Crypto!

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