The report pointed out that based on the current inflow rate, BlackRock IBIT’s Bitcoin holdings are expected to exceed Grayscale GBTC in the next three weeks. As of March 22, BlackRock’s Bitcoin ETF held 238,500 Bitcoins on its books, while Grayscale GBTC held approximately 350,252 BTC. Assuming the rate of inflows and outflows remains stable, BlackRock’s total Bitcoin holdings could exceed Grayscale’s by April 11. If BlackRock’s inflows return to the previous week’s average daily inflows, which was around 7,200 BTC, the shift could occur within 10 days.
This news has attracted widespread attention in the market, because BlackRock is one of the world's largest asset management companies, and its Bitcoin holdings exceeding Grayscale GBTC will further highlight institutional interest and recognition of cryptocurrencies. This also means that the Bitcoin market is experiencing increasing liquidity and institutional participation, which may have a significant impact on the cryptocurrency market.
According to reports, US presidential candidate Robert F. Kennedy Jr. (RFK Jr.) said that cryptocurrency is the best tool to fight inflation. He even announced last year that he intends to accept BTC donations ahead of the 2024 US presidential primary.
I deeply agree with this statement. Inflation has become a serious challenge in today's world as central banks around the world continue to increase the money supply. In this case, cryptocurrencies have become a safe haven against inflation due to their fixed supply and decentralized nature. Kennedy’s comments not only raised awareness of the cryptocurrency market, but also expressed his confidence in the emerging technology.
A new report from Bloomberg shows that a large number of Bitcoin miners are moving their mining equipment from the United States to Africa and South America. According to reports, around 600,000 S19 mining rigs are undergoing this transfer ahead of the Bitcoin halving. Behind this action is the significant drop in electricity prices in these areas, which has attracted the attention of miners. Interestingly, the unit price of these mining rigs was once as high as $11,500, but it is said that it may drop to $350 after the halving.
This trend prompted me to think deeply about the Bitcoin mining landscape. It shows that miners are extremely concerned about mining costs and are willing to travel far away for cheaper energy costs. This also reflects the fierce competition and globalization trend in the Bitcoin mining market. For investors, this means paying close attention to global energy markets and geopolitical developments, as these factors will directly impact Bitcoin’s mining costs and market supply.
According to TokenUnlocks data, this week OP, PRIME, and YGG will usher in a one-time large-scale unlocking of tokens, among which:
Acala (ACA) will unlock 4.66 million tokens at 8:00 on March 25, worth approximately $899,000, accounting for 0.48% of the circulating supply;
Yield Guild Games (YGG) will unlock 16.69 million tokens at 22:00 on March 27, worth approximately US$16.89 million, accounting for 5.39% of the circulating supply;
SingularityNET (AGIX) will unlock 8.84 million tokens at 8:00 on March 28, worth approximately $9.26 million, accounting for 0.69% of the circulating supply;
Optimism (OP) will unlock 24.16 million tokens at 12:00 on March 29, worth approximately US$84.32 million, accounting for 2.4% of the circulating supply;
EchelonPrime (PRIME) will unlock 1.66 million tokens at 8:00 on March 31, worth approximately $37.53 million, accounting for 4.65% of the circulating supply;
Sui (SUI) will unlock 4 million tokens at 8:00 on March 31st, worth approximately $6.68 million, accounting for 0.32% of the circulating supply.
These unlocking events will have an impact on the circulating supply of the corresponding tokens and deserve close attention. For investors, they need to pay attention to whether these unlockings will cause market fluctuations and the impact on the long-term development of the project. The large number of tokens unlocked may increase supply pressure, causing prices to fall. Therefore, I recommend that investors remain vigilant before and after unlocking and make rational investment decisions based on market conditions.
BTC: The weekly level has closed a standard hanging man. If the weekly level closes below 67200 this week, then the weekly level downward callback trend will be established. However, often we cannot just look at the technical aspects, but must also combine the market aspects to study and judge the current trend. Spot Bitcoin ETF data will continue to dominate market trends. If it falls first and then rises this week, it is a healthier trend; if it chooses to directly fluctuate upward, it may reach a new high in the next three weeks or form a periodic top. Strong pressure: around 68800;
ETH: linked to the trend of bits. Strong pressure: near 3587; near 3697;
Altcoin: For players who haven’t gotten on board yet, it is still a good opportunity to get on board. You can now pay attention to the RWA and AI artificial intelligence tracks. Although the altcoin bull market has not yet arrived, and we still need to wait patiently, the current market value of Bitcoin is already quite high. It is believed that the market value share will drop sharply in the near future, and the altcoin season may begin.
Today’s hot sectors: a16z investment; RWA;
The panic index is currently 75 (greed) #BTC🔥🔥🔥🔥