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💰 Bernstein raises year-end bitcoin price target to $90,000, expects ‘mild’ halving impact on miners
Analysts at research and brokerage firm Bernstein have raised their year-end price target for bitcoin to $90,000 from $80,000 amid improved market dynamics. Ultimately, the analysts expect bitcoin to target $150,000 as the 2024-2025 cycle high, with Bitcoin’s upcoming halving event having less impact on miners than in previous years.
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💰 Bitcoin ‘extreme greed’ ends matching sentiment from ETF launch at $46k
After 13 days in an ‘extreme greed’ phase of Bitcoin euphoria, the drop to $61,000 has pushed investor sentiment back into plain ‘greed,’ according to Coinglass. As of press time, Bitcoin is trading at $63,700, just 13% down from its all-time high. At a level of 74 out of 100 on the fear and greed index scale, current sentiment aligns with the optimism shared by the market ahead of the expected spot Bitcoin ETF approvals at the start of January.
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💰 Bitwise CIO says 'we’re probably a few weeks away' from first wirehouse to support spot bitcoin ETFs
While no major wirehouse in the US has yet supported the new set of bitcoin ETFs, this situation could change soon. "We're probably a few weeks away from the first of those major warehouses approving it — maybe a week away," Bitwise CIO Matt Hougan said on a panel about bitcoin ETFs at the Digital Asset Conference in London. "And within a few months they'll all be able to.".
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💰 Solana's memecoin mania pushes on-chain volumes and fees to new highs
The popularity of memecoin trading and speculation on Solana has pushed on-chain volumes — in U.S. dollar terms — to a new all-time high on Friday. Volume on Ethereum's foremost competitor exceeded $3.79 billion to end the work week, according to data from DefiLlama. The blockchain's previous all-time high volume was $2.85 billion — a figure set earlier this month. Saturday was close to Friday's all-time high. $3.44 billion in volume was recorded by DefiLlama yesterday.
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🇳🇬 Nigeria Proposes Rule Requiring Foreign Crypto Exchanges to Incorporate in the Country
According to the proposed amendments to the rules governing digital asset entities by the Nigerian Securities and Exchange Commission (SEC), a company “seeking to operate as a VASP [Virtual Asset Service Provider] must be incorporated and maintain an office in Nigeria.” The SEC also proposed that the CEO or managing director must reside in Nigeria. Foreign or non-residential operators targeting Nigerian users directly or through their agents will also be subject to the proposed rule changes, the regulator added.
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💰 It took 4 years for MicroStrategy to buy 205,000 Bitcoin
📈 It took just a few months for BlackRock to buy 223,645 Bitcoin for its spot Bitcoin ETF
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💰 Cetera Financial Group unveils policy to allow Bitcoin ETF exposure for RIAs, brokers
Cetera Financial Group has introduced a new initiative aimed at supporting financial advisors with the integration of spot Bitcoin ETFs into investment strategies. Cetera has an impressive roster of over 12,000 financial advisors and holds roughly $475 billion in assets under management, making it one of the largest wealth management services in the US.
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💰 Bitcoin maintains price resilience despite increased miner selling
Miners play a pivotal role in dictating Bitcoin's supply dynamics and their decision to sell or hold is a strong indicator of the overall health of the crypto market. A deep dive into Glassnode's latest data reveals a fascinating trend: a gradual yet noteworthy reduction in BTC held in miner wallets, signaling consistent sell pressure. But what's driving this sell-off, and more intriguingly, how have recent monumental market events.
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💰 $1.4 billion of bitcoin mined last year by once bankrupt Core Scientific
Earlier this year, the crypto mining firm Core Scientific emerged from bankruptcy and had its shares relisted on Nasdaq. On Tuesday, the company said that last year, it mined 19,274 bitcoin, worth about $1.4 billion at current prices. Core Scientific reported on Tuesday that it had self-mined 13,762 bitcoin for its own account on top of "an estimated 5,512 for our hosting clients’ accounts." The company also reported a net loss of $195.7 million, which it said was an improvement of $239.2 million.
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💰 Saylor says Bitcoin will ‘eat gold’ in the coming months
MicroStrategy executive chairman Michael Saylor predicted that Bitcoin will “eat gold” in the coming months because it is a far superior asset in every way. The MicroStrategy chair made the statement during a CNBC interview on March 11, where he added that Bitcoin was not only superior to gold but all conventional assets, including real estate and stocks.
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🇺🇸 VanEck releases new spot 💰 Bitcoin ETF commercial 📺
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💰 Unrealistic for Bitcoin to Match Gold’s Investor Allocation: JPMorgan
Analysts at major investment bank JPMorgan Chase have predicted that it will be difficult for bitcoin to match Gold’s current investor allocation of $3.3 trillion. The JP Morgan Bitcoin opinion coincides with the recent achievement of a new All-Time High (ATH) for the premier digital asset, reaching $69.9k. The prediction was made in a recent report penned by senior analyst Nikolaos Panigirtzoglou, as the bank tried to provide “realistic insights” into the bitcoin investment scene.
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💰 Spot bitcoin ETF holdings on track to surpass GBTC today
The nine recently approved spot bitcoin exchange-traded funds in the United States are on track to surpass the Grayscale Bitcoin Trust's holdings today. According to K33 Research senior analyst Vetle Lunde, GBTC held 400,186 bitcoins as of yesterday, while the "newborn nine" U.S. spot bitcoin ETFs held 397,847 coins. They also noted that yesterday's net inflow was 6,965 bitcoins. If this continues, they will outgrow GBTC.
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💰 Total Bitcoin ETF net inflows reach $8.9 billion
BitMEX data showed $332 million in inflows into Bitcoin ETFs, equivalent to 4,995 Bitcoin, on Mar. 6. Leading the charge was BlackRock’s IBIT, which added $282 million to its coffers, bringing its total net inflows to $9.4 billion. This implies that IBIT currently holds around 188,000 BTC. Fidelity’s FBTC wasn’t far behind, maintaining a strong momentum with a robust net inflow of $206 million. This growth brings their total net inflows to $5.6 billion, equivalent to roughly 113,000 Bitcoin, according to BitMEX.
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🇬🇧 UK Launches Consultation on Implementing OECD Crypto Reporting Framework
The U.K. launched a consultation on its plans to implement the Organization for Economic Co-operation and Development's (OECD) crypto reporting framework on Wednesday following its spring budget speech. The Treasury, the government's finance arm, projected in its budget that implementing the crypto reporting framework could draw in £35 million ($45 million) between 2026 and 2027 and £95 million between 2027 and 2028.
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🔥 BlackRock CEO Larry Fink: ‘…the next step is the tokenisation of financial assets, and that means every stock, every bond…’
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💰 Institutions look to deploy Bitcoin as liquidity to Lightning Network to earn yield
Bitcoin Lightning Network liquidity provider LQWD Technologies has partnered with Amboss Technologies to establish further institutional liquidity on Lightning. The collaboration positions LQWD to contribute liquidity to Amboss’s marketplace, enabling the fulfillment of market demand for Lightning Network liquidity while generating a yield on LQWD’s Bitcoin holdings.
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🟠 Binance Personnel Cleared of Insider Trading Allegations in BOME Controversy
Binance has cleared its personnel from the allegations surrounding Book of Meme (BOME), a meme coin built on the Solana blockchain. The move follows widespread discussions and allegations of possible insider trading associated with the “BOME rat warehouse” incident, prompting Binance to take swift action to address the matter. According to the statement, preliminary investigation results suggest that the individual implicated in the allegations has no affiliation with Binance.
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💰 Sam Bankman-Fried’s bankruptcy narrative revealed in new court documents
United States prosecutors have filed new court documents revealing Sam “SBF” Bankman-Fried’s plans to restore his public image after the collapse of FTX in 2022. According to a Google document attached to the government sentencing memorandum filed on March 15, Bankman-Fried listed 19 “random probably bad ideas” intended to change the social media narrative of the crypto exchange’s dramatic downfall.
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🥇 32MB blocks is how Bitcoin has started - Vitalik
Bitcoin: Has a block size of 1 MB
Bitcoin Cash: Has a block size of 32 MB
Bitcoin SV: Has a block size of 4 GB.
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🟠 Binance quietly spun off $10 billion venture arm Binance Labs
Binance, the world’s leading crypto exchange by trading volume, has seemingly spun off its venture capital and incubation arm Binance Labs, according to its website. “Binance Labs is an independent venture and not part of the Binance Group nor is it involved in any of the businesses operated by the Binance Group (including but not limited to the Binance cryptocurrency exchange),” a disclaimer on the site now reads.
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💰 Net $680 million flows into Bitcoin ETFs as Grayscale outflows tick back up to $276 million
Bitcoin ETFs continued their strong performance on March 13, with a net inflow of $683.7 million, according to data from Bitmex Research. This marks another positive day for Bitcoin ETFs, following the surge in inflows seen on March 12. Per Bitmex Research ETF flow data, BlackRock’s iShares Bitcoin ETF (IBIT) again led the way, attracting $586.5 million in new investments. Fidelity’s FBTC fund also maintained its momentum, with inflows of $281.5 million.
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🪙 Ethereum Dencun upgrade day triggers surge in layer 2 protocol token value
The imminent launch of the Ethereum Dencun upgrade at 14.00 UTC today, March 13, has sparked a notable surge in the prices of native tokens for layer-2 protocols, including Arbitrum, Polygon, and Optimism. According to CryptoSlate’s data, the sector has surged by approximately 5% in the last 24 hours, reaching a total market capitalization of $20.21 billion. This growth maintains a consistent upward trend of 10% observed throughout the week.
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💰 Grayscale files S-1 form to launch ‘mini’ GBTC spin-off for investors
Grayscale filed an S-1 form on Tuesday with the U.S. Securities and Exchange Commission to register its new, mini version of its Grayscale Bitcoin Trust (GBTC), named the Grayscale Bitcoin Mini Trust. The mini trust — under the ticker symbol “BTC” — is intended to be a “spin-off” of GBTC, with new shares of the mini trust designed to be distributed to GBTC shareholders as GBTC contributes a certain amount of bitcoin to the trust, according to the S-1 filing.
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JUST IN: 💰 Michael Saylor says Bitcoin is going to "eat" gold and has all the great attributes of gold.
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💰 Tim Draper believes that El Salvador 🇸🇻 could eventually become one of the wealthiest countries in the world thanks to its investment in Bitcoin.
Draper made his statements on a recent episode of the “Web3 Deep Dive” podcast with Rachel Wolfson.
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🟠 Appeals Court Revives Aspiring Class Action Lawsuit Against Binance
A group of investors who tried to sue crypto exchange Binance, former CEO Changpeng Zhao and other executives are getting a new chance after an appeals court reversed a lower court ruling dismissing the case. The Second Circuit Court of Appeals ruled Friday that a putative (or aspiring) class action lawsuit against the world's largest crypto exchange should not have been dismissed by a federal judge in the Southern District of New York.
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💰 Tether co-founder believes Bitcoin could hit $300K based on historic patterns
Tether co-founder William Quigley said Bitcoin could potentially surge to $300,000 at the peak of the current bull market, based on historical patterns of past halvings. He shared the insight during an interview with CNBC, where he discussed the market conditions influencing Bitcoin as the halving approaches. Quigley clarified that his analysis is not a prediction but a possibility if historical patterns hold true.
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💰 Bitcoin’s ‘kimchi premium’ hits two-year high in South Korea
The so-called Kimchi Premium in South Korea reached a 27-month high of 10.32% for bitcoin on Wednesday in Asia, according to data from CryptoQuant. Kimchi Premium is a term that refers to the price difference between crypto tokens in South Korea and elsewhere. CryptoQuant’s data compares South Korea’s bitcoin price with that of the USD market. The crypto prices in South Korea differ from those outside the country due to several unique elements of the country’s crypto market.
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