"The more things change, the more they are the same."
 –Alphonse Karr

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 $70,000 from yesterday at $70,717 and up from $64,266 a week ago.  Once again it's option expiry Friday let's see how much volatility Bitcoin and the markets get. 

CURRENT NEWS

Today, the news is sparse as Bitcoin shows ‘signs of exhaustion’ as Q1 BTC price gains near 70% and new Bitcoin ETFs now hold 500,000 BTC, while GBTC outflows slow. Crypto ATMs to resurge once Bitcoin ‘FOMO’ hits full swing and that is unfortunate because they charge an insane amount for fees. 

Bitwise enters race for Ethereum Spot ETF.(2) Ethereum futures open interest at all-time high.

SBF is going to prison for 25 years but Ross Ulbricht is in prison for life? The justice system is broken.

MID-DAY

Coinbase is seeing large inflows of USDC ($1.4B), normally when this happens - the market rallies because folks are moving stablecoins on to buy Crypto assets. Bitcoin ETFs rebound with $854 Million in investments in one week. It appears that Ripple might be in settlement talks with the SEC; if so this could be big and could rocket the Crypto space higher! Litecoin is ruled to be a commodity by the CFTC and the price spikes. 

WATCH

LISTEN

Podcast of the Day: Bitcoin Back and Better Than Ever, with Kraken CEO Dave Ripley | The Breakdown

TIME MACHINE

A month ago, Gemini will made their customers whole by returning 100% of the funds to those who participated in the Earn program.(7)

A few weeks ago, 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.

A couple weeks ago, 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.

Last week, Brian Armstrong was getting a lot of press for defending the $ETH ETF so let's see where this goes(4) and based on on-chain data, a Bitcoin whale that has been accumulating on Bitcoin's dip has made a significant purchase, acquiring 673 BTC.

Yesterday, the overwhelming demand for Bitcoin spot ETFs over the past two months is likely to continue for many years, predicts Bitwise CIO Matt Hougan; Inflows could eclipse $1T.(5)