NUGGETS OF ALPHA
After all the good developments, Bitcoin is still down 1.2 percent in 2024
Venture Smart in Hong Kong wants to launch a spot BTC ETF within this quarter
The Office of the President of South Korea is advocating for a local spot BTC ETF
Bitcoin ETF options are coming in about 27 days
Ethereum hit $10 billion in revenue faster than any other major software company besides Google
BTC and SOL reached 75% of NFT deployments at the end of 2023
Paxos is moving its stablecoins to the Solana blockchain
NVDA reached Layer 10 of the LILO model recently as it crossed over $800/share
Time deposits hold $9T, and money market funds are at $6.2T with “cash on the sidelines,” setting a new record high
Per the NY Fed consumer survey, the U.S. inflation rate is now below 3.0%
Crypto Market Weekly Summary:
The global crypto market is down to $1.63 trillion, with a 24-hour volume of about $45 billion.
The Fear & Greed index fell to 52 after being in the 60s-70s range for the longest time.
Bitcoin price is at $41,700.
Ethereum price is at $2,465.
Other developments this week around the world:
Gold is up to $2,032
S&P 500 hits an all-time high, driven by big-tech
Meta closes at an all-time high, up 175% in 1 year
Nividia hit a new all-time high
Microsoft employees hacked by Russian group
Sports Illustrated is set to shut down
Altman aims to raise billions for chip factories
There was lots of red in the crypto market this week. However, the following tokens were in the green: BNB, TRON, LINK, SOL, and ETH.
BTC -2.98%
ETH -2.44%
SOL +0.3%
LINK +11.94% (best performer of the week)
After all the good developments, Bitcoin is still down 1.2 percent in 2024. This is not exciting, but it is also not tragic! The negative sentiment is as high as it was during the depths of the last bear market.
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