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What's the Bullish Sentiment Like? Pantera Capital: We are currently in the early stages of a bull market that will last another 18-24 months. In the picture, you can see a wave of catastrophic events in the history of the crypto market. And since none of these things will kill crypto, the fact that such events are already behind us is a huge plus.
JPMorgan: The recent BTC rally is driven by impulsive decisions of retail investors, not by institutions or market fundamentals.
Matrixport: BTC may reach $63k in March 2024. Growth catalysts: spot Bitcoin ETFs, halving, expectations of Fed easing, and the US presidential election.
The Uniswap Foundation plans to start distributing the protocol's profits among UNI holders who staked tokens and delegated voting rights. You can see the reaction of the crypto community on the UNI chart...
- Mining company Riot Platforms and the Texas Blockchain Council have filed a lawsuit against the US Department of Energy, their demands: a ban on collecting data on BTC miners. The fact is that earlier this year, the department requested the collection of official data regarding electricity consumption.
“The actions of the US Department of Energy are illegal.”
- Earlier, the cryptocurrency company Lejilex, together with the Crypto Freedom Alliance of Texas (CFAT), filed a lawsuit against the SEC.
The reason was excessive regulation of the crypto industry without legislative authority. Lejilex is going to launch a crypto exchange and list tokens that the regulator considers securities.
ECB: Fair value of BTC = $0 vs $
- Bitcoin is not suitable for investment or use as a means of payment.
- Transactions are slow, inconvenient and expensive. - Bitcoin has failed to become a global decentralized digital currency and is still practically not used for legitimate transfers.
Market expectations for Fed rates: - March 20: Pause. - May 1: Pause. - June 12: 25 bps rate cut.
💭Waller, Fed Chair: - DeFi and stablecoin adoption could boost global dollar dominance.
💭Daly, Fed Chair: - 3 Fed rate cuts is a reasonable baseline for this year.
💭Bostic, Fed Chair: - I expect the Fed to start cutting rates in the summer, but with positive macro data, it could happen sooner. - My prediction is 2 Fed rate cuts this year (but maybe 3).
💭Barkin, Fed Chairman: - CPI report confirms why the Fed needs more confidence to ease monetary policy.
US banks demand permission from the SEC to store cryptocurrency 🏦
Their goal is to become custodians of Bitcoin ETFs. For example, now the custodian for most spot Bitcoin ETFs in the US is Coinbase.
p.s. In one week, spot Bitcoin ETFs bought 49,877 BTC, and miners mined only 6,107 BTC
Circle vs Tether 💰💰
Caroline Hill of Circle calls on Congress to look into the activities of Tether and its banking partner Cantor.