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Guess what day it is Folks? HUMPDAY! Bitcoin is trading down at $70,070 from yesterday $70,682 and up from $63,061 last week. BTC hit $71,375 yesterday, returning close to its all-time high of $73,738 earlier this month, but it failed to break through to a new peak. Also remember on Monday it was reported that Nilam Resources was going to acquire (buy) 24,800 $BTC? Well the CEO resigned. Looks like this was too wild to be true.
CURRENT NEWS
Today, Bitcoin is gearing up for a "massive" short squeeze and price could go "vertical" as ‘sell-side liquidity crisis’ sees $BTC move for the first time since 2010. Swyftx lead analyst Pav Hundal says this isn’t a “classic bulls versus bear battle,” while Swan Bitcoin CEO Cory Klippsten predicts “somebody gotta break at some point;” Michael Saylor is "still betting on Bitcoin price."
All Bitcoin is getting bought up as Bitcoin's demand skyrockets, with monthly figures leaping from 40,000 to 213,000 BTC, driven by a surge in accumulation; the halving could accelerate consumer adoption of BTC. James Coutts says $BTC is poised to cointue rallying after a temporary correction. Argentine demand for Bitcoin soars as Peso plummets, with citizens seeking Cryptocurrency as economic lifeline. Galaxy’s says Macro factors, ‘boomer’ wealth to spur more crypto adoption and El Salvador's stack keeps growing.
The fund giant, Franklin Templeton, with more than $1 trillion in assets under management, has launched the Franklin Templeton Digital Asset Dynamic BTC/ETH separately managed account (SMA.)
Hong Kong's in-kind ETF creation could be a significant market opportunity(2) as Asset Manager VSFG and Value Partners apply for spot Bitcoin ETF. Hashdex’s new spot Bitcoin ETF to begin US trading today. BlackRock's Ethereum tokenized fund ‘brings legitimacy’ as AllianceBernstein analysts said the move will help traditional investors see crypto as more than “retail casinos.”(2) Meanwhile, Eric Balchunas doesn't see an $ETH ETF coming. Influential House Republicans are demanding answers from Gensler on how ETH could legally be treated as a security by Prometheum and a total of 48 members of Congress signed a letter to Gensler, expressing concerns about how listing ETH as a security could threaten the crypto industry.(2) Cryptocurrency journalist Eleanor Terrett says “institutions are starting to show interest in Litecoin ETF.” CFTC says Ethereum and Litecoin are commodities besides Bitcoin in KUCOIN complaint.(2)
Bitcoin held on COINBASE exchange reach 9-year low and Coinbase will start moving more of its customer and corporate USD Coin (USDC) stablecoin accounts to Base — its Ethereum layer-2 blockchain launched a little over seven months ago.
KuCoin gets charged for "multibillion-dollar criminal conspiracy."(7) According to the incident announced by cryptocurrency detective ZachXBT and confirmed by the platform, Munchables, a crypto platform on Blast, suffered a hacking attack.(2) But hold on - Plot Twist: Munchables hacker returns $62.5 Million in stolen funds.(2) Early Bitcoin investor launches lawsuit to recover wallet with $560,000,000 in $BTC lost in landfill. Sad but true: Silk Road Founder Ross Ulbricht turns 40 with 11 years spent behind bars.
The founder of the Ordinal Rugs project said hackers targeted members of the Bitcoin Rock Discord server on Tuesday, stealing $1.47 BTC, around $103,003, and 4 BTC, around $208,196, worth of Ordinal inscriptions from their wallet.
Podcasts of the Day: BTC175: MicroStrategy Deep Dive w/ Jeff Walton | Bitcoin Fundamentals
TIME MACHINE
A month ago, the Group of Nine Bitcoin Spot ETFs inflows reached $562M (with $10B trading volume) and the night before we learned that MicroStrategy is preparing to buy $600M more in Bitcoin; they've increased to $700M and Bitcoin had a 10x improvement over Gold says Anthony Pompliano
ago, Bitcoin whales "increasingly cashed out," but the number of new “millionaire” wallets for Bitcoin (BTC) has risen to about 1,500 daily after the cryptocurrency’s price surged to $72,000 recently. However, this increase is modest compared to the daily creation of new millionaires during the previous bull market.(2)
A couple weeks ago, Bitcoin nails new all-time high at $73.6K(2) as ETFs continue to eat away at supply; retail HODLers sees massive increase with 277K new accounts. Bitcoin ETFs break another record with $1B inflows in a single day.(2) Tim Draper predicts that El Salvador will become rich and innovative thanks to Bitcoin. Jamie Dimon says he will never buy Bitcoin. Coinbase is raising $1B with convertible notes to pay off other convertible notes.(5) Drake is all about the Bitcoin like MicroStrategy.
Last week, state pension fund, GPIF, is seeking information about Bitcoin as part of a broader strategy initiated in response to significant economic and societal changes and technological advancements(2) and the news continues to be as scarce as Bitcoins. Bitcoin on exchanges hits a 4-year low and the demand for Bitcoin continues to increase; will there be a supercycle? At the same time, record outflows from Grayscale's GBTC appears to be keeping downward pressure on the price for now. Bitcoin miners' reserves drop to April lows - just like the price of Bitcoin due to profit taking; the halving is now scheduled to take place on the 15 of April.
, the ETFs break a five-day trend with Fidelity accelerating acquisitions.(2)
