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PLUS: Bitcoin tumbled below $30,000 for the first time in almost two weeks after a disappointing ADP private sector jobs report and ISM services index, but regained some ground later on Thursday.
The largest and smallest bitcoin whales have added to their holdings, but the group in between has jettisoned some of their tokens.
Traders now see a 94% chance of the Fed raising rates by 25 basis points later this month.
Observers call for spot-based bitcoin ETF as the bull market raises cost of pre-expiry rollover of positions for futures-based ETFs.
The forecast is consistent with bitcoin's tendency to chalk out sharp gains in the months after the mining reward halves. The fourth halving is due early next year.
Bitcoin prices have paused with support at $30,000
Even so, spot trading volumes are at historically low levels.
The decentralized cloud storage protocol has seen its market value double this week.
PLUS: The first half of 2023 has so far been very promising for the crypto majors.
PLUS: Dismissing the very real prevalence of Ponzi schemes in GameFi isn't a good look for Web 3.
- 04:55After hibernating for two months, a certain whale withdrew 8313 ETH from CEXAccording to Onchain Lens monitoring, a certain whale withdrew 8,313 ETH from CEX after two months of dormancy, worth $16.46 million. This whale currently holds 11,197.53 ETH, valued at $22.17 million, with a floating loss of $3.8 million.
- 04:37Greeks.live: As the quarter-end delivery approaches, cryptocurrency options market makers are betting that the short-term market will continue to consolidate sidewaysMacro analyst Adam from Greeks.live stated that the cryptocurrency market trading was relatively flat this week, with the total volume of options delivery dropping by nearly half. The short-term implied volatility significantly decreased, with the medium and short-term volatility of Bitcoin falling below 50%, and ETH's medium and short-term volatility returning to around 60%. Cryptocurrency is currently in a state of free oscillation, with investor sentiment tending towards dullness. As we approach quarterly delivery, large investors generally adopt a robust strategy. Option market makers have increased their selling intensity again, tightening implied volatility and betting that the short-term market will continue to consolidate sideways.
- 04:36The "Bring Down Tesla" movement in the United States plans to hold its "largest scale protest" on March 29thAccording to a report by tech media The Verge, the "Topple Tesla" movement in the United States made a massive call on Wednesday for organizers, filmmakers, congressmen and other key figures to unite. On March 29th, they held 500 demonstrations at 277 Tesla (TSLA.O) showrooms and supercharging stations across America. The "Topple Tesla" movement originated from dissatisfaction with Elon Musk's growing political role, his close relationship with Trump, and his leadership of the government efficiency department. Since a large part of Musk's net worth is tied to his holdings in Tesla shares, members of the "Topple Tesla" campaign targeted this electric vehicle manufacturer. Unfortunately, protests against Tesla and Musk have become increasingly violent; there were shootings at Tesla stores and cars set on fire. Supercharging stations and vehicles owned by Tesla customers were also damaged or burned down. As these incidents escalated, President Trump pointed out that he believes such actions are domestic terrorism. Attorney General Pam Bondi also noted that those behind arson attacks and damage to Teslas will be brought to justice.