Bitcoin price hits $49,732 on Valentine's Day 2024, a record high
According to data compiled by Coingecko, the price of Bitcoin on Valentine's Day 2024 reached a new high of $49,732. The specific prices for each year are as follows:
Analyst: Risk assets such as Bitcoin are defying the Fed’s low interest rate cut expectations
An analyst has stated that risky assets such as Bitcoin seem to be able to withstand the stickiness of inflation in the United States and the decreased likelihood of a rate cut by the Federal Reserve in the first half of this year. The market predicts that Bitcoin is poised to reach a new all-time high this year with confidence.
Analyst: Separate technical analysis based on chart patterns suggests Bitcoin could fall to $30,000
According to a report from IG Australia Pty market analyst Tony Sycamore, despite worsening overnight risk sentiment, Bitcoin still shows impressive resilience. At the same time, separate technical analysis based on chart patterns suggests that it could temporarily fall to $30,000. Caroline Mauron, co-founder of Orbit Markets, a provider of digital asset derivatives liquidity, said that we expect the market to pause briefly before the upcoming Bitcoin halving, after experiencing an amazing four-month rally.
Bitcoin Traders Enter Period of "Extreme Greed" as Price Surpasses $49,000
The Fear & Greed Index, which measures market sentiment for bitcoin and other digital assets, has reached a score of 79 out of 100, indicating a period of "extreme greed" among traders. This level was last seen in November 2021 when bitcoin hit its all-time high of $69,000. However, it is important to note that when investors become too greedy, the market is typically due for a correction. The index has consistently been above the threshold for "greed" since October 2021, but fell to 50 in January following the approval of bitcoin ETFs. Despite this, bitcoin has more than doubled in price over the past year, reaching a high of over $50,000 yesterday.
The Bitcoin Volatility Index fell to 57.11 yesterday, a daily decrease of 3.02%
On February 14th, the BitVol (Bitcoin volatility) index launched by financial index company T3 Index in conjunction with Bitcoin options trading platform LedgerX fell to 57.11 yesterday, with a daily decline of 3.02%.
Bitcoin rises above $45,000, up 4.43% in 24 hours
According to OKX market data, on February 8th, Bitcoin rose and broke through $45,000, currently priced at $45,150, with a 24-hour increase of 4.43%.
Assessing Risk in a Bitcoin Bull
On-chain data provides both investors and analysts with a plethora of new tools to diagnose and assess the state of the chain from a multitude of viewpoints. In this article, we produce a new framework for assessing the degree of market risk across various data categories.
Introducing Citrea: Bitcoin’s First ZK Rollup
The Bitcoin scalability landscape has long been dependent on solutions that move security and demand off-chain, off-Bitcoin. Citrea is set to change this reality by scaling Bitcoin in its entirety with zero-knowledge proofs, ensuring on-chain verifiability and data availability within the Bitcoin network. This approach makes Citrea the first scaling solution to enable more complex applications without compromising Bitcoin security and changing its consensus rules.
When do Bitcoin Node Operators Upgrade?
An analysis of historical Bitcoin Core node versions to examine the updating behavior of node operators over the years.
Tracking Market Momentum with On-chain Data
On-chain data provides analysts and investors with a remarkable degree of transparency into the performance, adoption, and investor positioning within digital assets. In this piece, we highlighted several approaches and frameworks for assessing market momentum across various data categories.
Cointime February 3 News Express
1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions
Bitcoin ecological composability DID protocol BRC-137 completed a $2.5 million seed round of financing, with participation from Basics Capital and others
The Bitcoin ecological composability DID protocol BRC-137 announced the completion of a $2.5 million seed round financing. The round was participated by institutions such as Basics Capital, DFG, Gate Labs, JSquare, etc. The funds will be used to accelerate the development and improvement of the protocol and ecological growth, to achieve a native social universe of the Bitcoin ecosystem.According to the BRC-137 white paper, BRC-137 aims to build a more diverse DID ecosystem by introducing composable prefixes and suffixes while enhancing asset liquidity.In addition, the protocol also introduces a royalty mechanism to promote the development and innovation of on-chain social patterns.
Bitcoin staking chain BounceBit TVL exceeds $72.8 million
BounceBit website shows that the Bitcoin collateral chain BounceBit currently has a TVL of over 72.8 million US dollars, of which the amount of BTC collateral is over 46.2 million US dollars.
WisdomTree COO says consumer app offers better way to hold Bitcoin than ETFs
Bloomberg data shows that WisdomTree lags behind other issuers in terms of inflows into Bitcoin spot ETFs. Jarrett Lilien, WisdomTree's chief operating officer, said the company's consumer application provides a better way to hold Bitcoin than ETFs. He said, "We are confident in our ability and record in managing assets in growth, which does take time, especially in our ETF model, as these products are not yet available on many advisor platforms, and we hope to see most of the flow on these platforms."
Matrixport report predicts Bitcoin price target of $70,000 by the end of 2024
Matrixport released its latest research report, which points out that in January 2024, Bitcoin's positive return rate is +1.1%. According to the regression model, it is expected that Bitcoin may rise by 65% for the rest of this year, and the price of Bitcoin may climb to $70,000. Matrixport previously pointed out that the price of Bitcoin is greatly affected by changes in interest rate expectations. Given that the Federal Reserve may cut interest rates in 2024, the price of Bitcoin is expected to rise. According to the report of Matrix on Target on October 28, 2022, the ideal time to buy is 14-15 months before the halving, because Bitcoin usually enters a bear market 6 to 12 months after the halving. Although the halving occurs once every four years, the cycle is about 3.5 years, and the peak of the fifth bull market is expected to occur in 2025.
ARK Invest Analyst: If Bitcoin’s share of global investment portfolios reaches 1%, its price will rise to $120,000
Analysts at ARK Invest have stated that if Bitcoin's share in global investment portfolios increases to 1%, its price will rise to $120,000, with the optimal price being 19.4%, or $2.3 million. ARK Invest estimates the total value of global investment portfolios to be $250 trillion, and the 19.4% figure is based on optimizing risk-adjusted returns for 2023. The other components of the investment portfolio are gold (40.7%), stocks (30.2%), and commodities (9.6%).
Yesterday, the transaction fee of the entire Bitcoin network was 49.84 BTC
BTC.com data shows that yesterday's Bitcoin network transaction fee was 49.84 BTC, a 3.4% decrease from the previous day's 51.62 BTC.
OKX Ventures and ABCDE held the second quarter of Bitcoin Ecosystem Demo Day
On January 31, 2024, OKX Ventures, in collaboration with ABCDE, held the second season of Bitcoin Ecological Demo Day, covering BTC Layer 2 network, Layer 2 service solutions, Bitcoin collateral, Launchpad, DA and other Bitcoin infrastructure construction projects. It is reported that with the continuous growth of Bitcoin users and Bitcoin blockchain data, there is still huge innovation space in the Bitcoin ecosystem. OKX Ventures is committed to building the BTC ecosystem and has invested in projects such as B^2 Network, Bitmap Tech, Babylon, bitSmiley, alexGo, Portal Defi, etc. OKX Ventures will continue to invest 10 million US dollars and support new and innovative entrepreneurs in the BTC ecosystem to accelerate the improvement of blockchain technology, while providing services and resources to help partners develop together.
UK law enforcement agencies have seized $1.7 billion in Bitcoin suspected of money laundering
UK law enforcement has seized $1.7 billion worth of Bitcoin. Earlier, a former restaurant employee named Jian Wen attempted to use the Bitcoin to purchase a luxury home in London worth about $30 million, but the purchase was unsuccessful due to their inability to explain the source of the encrypted assets. It is reported that Jian Wen became a British citizen in 2018 and is suspected of being recruited to assist Zhimin Qian in money laundering, accused of representing Zhimin Qian in converting Bitcoin into cash, luxury goods, and real estate.
ABCDE BTC Demo Day Season 2: Bitcoin Summer Is Coming
This year, we returned with 8 high-quality projects in the BTC Ecosystem. On January 31st, 2024, ABCDE’s second Demo Day is scheduled, welcoming over 80 investors. These 8 projects, carefully selected from various sectors including Layer 2, Statechain, Staking, DA, Liquidity Layer, Launchpad, etc., showcase the diversity and innovation in our field.
