Bitcoin Recovers And Whipsaws

It’s hard to believe that just a little over two months ago, $BTC.X and the broader crypto market experienced the single largest WTF moment in crypto history: FTX’s collapse. 😲

When CZ Tweeted on November 6, 2022, that Binance would be offloading its entire $FTT.X stake, it triggered a swift collapse of the entire crypto market.Β 

Over a fifteen-day period, Bitcoin dropped from $21,300 to where it bottomed at $15,473 – a -27.36% drop.Β 

Fast forward to today, and Bitcoin has recovered all of the post-FTX losses andΒ hit a new 4-month high.Β 

Click to enlarge.

Will Bitcoin continue to push higher, or will selling pressure return? There are arguments for both sides, but we’ll tackle the long and short-term outlook analysts see for the broader cryptocurrency market in Friday’s Litepaper. πŸ‘€

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You Lucky SOBs

This is such a typical memecoin story (and they pop up quite a bit during bull runs), and this one involved Dogwifhat ($WIF). 🐢

Some dood turned $1,750 into $11.2 million. He bought 5.1 million WIF in November and then spent who knows how many sleepless nights this month figuring out how to cash out on his lottery ticket.Β 

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Frogs, And Dogs, And BONKs Oh My

Memecoin madness is back, and it’s like deja vu. All over again, like deja vu. 🐢

According to the fine folks at Santiment, the spotlight’s on $PEPE, $FLOKI, $BONK, and a few others, all of which have decided to moon together. Price surges of over 500% and trading volumes that skyrocketed nearly 3,000%? Just another crypto memecoin insane bull run

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News In Three Sentences – February 28, 2024

Great Zeus’s Beard That’s A Lot: BTC ETF trading volume spiked over $7.5 billion, more than double its previous record. 😱 WatcherGuru has more

BlackRock Turns Bitcoin ETFs into Its Own Personal Money Printer: BlackRock’s ($BLK) massive $520 million infusion into $BTC ETFs, combined with Europe’s unrelenting buying spree and a nifty GBP arbitrage opportunity on $COIN, propelled Bitcoin past the $60,000 mark despite expectations of a pause. Short-sellers everywhere are now questioning their life decisions. πŸš€ Β  Β Read more from TrustNodes

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