Liquidations 🫗
Bitcoin hits $57k, short-sellers liquidated. Ethereum crosses $3.2k. Trevor Noah regrets not buying BTC early. ETF trading volume hits $2,4B. MicroStrategy sits at $10+B. Vitalik's solution for Musk.
Hello, y'all. If you think you know your music, then this is for you frens. A complete go. Check out 👉 Asset - Music Nerd
This is The Token Dispatch 🙌 you can hit us on telegram 🤟
Bitcoin surged past $57,000 for the first time since November 2021.
The price skyrocketed over 11% in just 24 hours.
Here's what ignited the flames
Monday morning: Bitcoin smashed through the $53,000 barrier, a level unseen since November 2021.
Later in the day: The price continued its ascent, breaching $54,000.
US evening/early Asia morning: Bitcoin went on a tear, conquering $55,000, $56,000, and finally, the coveted $57,000 mark within minutes.
Liquidations?
This rapid rise triggered a short squeeze, forcing traders betting against Bitcoin (the "shorters") to scramble and buy it back, pushing the price even higher.
Liquidated over $175 million in short positions.
Open Interest? Reaches an all-time high amid a price rally with $26 billion.
Inflows into the 10 Bitcoin ETFs topped $515 million.
Record-breaking volumes in spot Bitcoin ETFs: trading volumes of $2.4 billion on Monday.
Saw its smallest daily outflow since the launch of spot Bitcoin ETFs.
Bitcoin funding rates?
Jumped to 100%, creating opportunities for savvy traders.
Elevated funding rates offer attractive arbitrage opportunities for crypto hedge funds.
The spike in funding rates suggests bullish leverage in the market.
The predictions?
Chart expert Peter Brandt raises Bitcoin's 2025 target to $200K on channel breakout.
Brandt expects Bitcoin's ongoing bull market to peak at $200,000, up from the previous estimate of $120,000.
Ethereum Rises
ETH soars past $3,200.
Highest level since March 2022.
Could $4,000 be next?
Crypto experts see ETH outperforming Bitcoin soon.
Block That Quote 🎙️
Trevor Noah, South African comedian.
"Not buying Bitcoin early was the biggest mistake I’ve ever made."
Trevor Noah is kicking himself for missing out on the Bitcoin boom. During a tech conference in Qatar, He admitted it "cost nothing at some point."
While Noah's net worth is likely keeping him comfortable, it seems even celebrities have regrets about missing the crypto train.
ETFs Break All-Time Volume Record
9 spot Bitcoin ETFs saw their highest trading volume ever on February 26th.
Combined trading volume for the 9 reached $2.4 billion in 24 hours.
And BlackRock's iShares Bitcoin ETF? led the surge with $1.3 billion in volume.
Other contributing ETFs include products from Fidelity, Franklin Templeton, Invesco, VanEck, WisdomTree, Hashdex, Bitwise, and Valkyrie.
Why? FTX bankruptcy pressure subsided and the Genesis sale approval.
Where’s ETF?🚨
Grayscale's ETF GBTC experienced a net outflow of $22.37 million, marking a continued decrease in net outflows for the fourth consecutive trading day and setting a new historical low👇
Buterin to Musk: Ditch Windows, Get Linux
Ethereum's Vitalik Buterin throws shade at Microsoft, suggesting Linux as the answer to Elon Musk's Windows woes.
Musk tweeted his frustration about needing a Microsoft account to use his new PC.
Why Linux?
Open-source: Unlike Windows, Linux's code is freely available for anyone to modify and improve. This collaborative spirit is at the heart of open-source philosophy.
Established player: Around since 1991, Linux powers popular systems like Android.
Niche appeal: Though not mainstream like Windows, Linux has a dedicated user base.
MicroStrategy doubles down on Bitcoin
Adds 3,000 BTC for around $155.4 million.
This purchase, made over the past ten days, brings their total holdings to a whopping 193,000 BTC, worth $10.28 billion at current prices.
The company has no plans to sell, with CEO Michael Saylor stating "Bitcoin is the exit strategy."
Saylor believes these factors, coupled with growing institutional demand, will push Bitcoin to become a "trillion-dollar asset class."
The Surfer 🏄
Terraform Labs co-founder Kwon Do-hyeong may miss the start of his SEC trial on fraud charges.
Crypto exchange OKX has entered the Turkish market as part of its global expansion plan.
Five US senators oppose Joe Biden's plans for a digital dollar issuance.
If you like us, if you don't like us .. either ways do tell us✌️
If you dig what we do, show us love on Twitter, Instagram & Threads🤞
So long. OKAY? ✋
