Bitcoin investors have been rewarded for their patience and conviction, with BTC prices rallying to multi-year highs above $50k. The volume of supply held at a loss is also thinning quickly, with just 13% falling into this category.

According to BTC.com data, the current best transaction fee for the Bitcoin network is 14 Satoshi/vbyte.

Why does bitcoin’s long-term price just keep going up? This seemingly evergreen topic has a tendency to bring out some of the wildest takes imaginable, with institutional proximity tending to be inversely related to explanatory power.

Data shows that Bitcoin hit a new historical high of 7.9 million yen on the Japanese cryptocurrency trading platform bitFLYER on Monday this week. In comparison, the Bitcoin price in US dollars is $52,000, which is 32% lower than the historical high of $69,000 in November 2021. This price difference reflects the pressure on the yen under the continued loose policy of the Bank of Japan (BOJ) and inflation recovery, despite the significant interest rate hikes by the Federal Reserve and other central banks in 2022 and 2023 to curb inflation. The Bank of Japan will maintain zero interest rates and continue to print a large amount of currency. Japan's core inflation rose 3.1% in 2023, the largest increase since 1982, and the yen depreciated by 8% in 2023.

Bitcoin’s price has been on a relentless ascent, momentarily crossing the $50,000 threshold. This surge is partly fuelled by increased investments in Bitcoin ETFs and a reduction in selling pressure from GBTC. However, the dynamics extend beyond ETF activities. A resurgence in global liquidity is bolstering both equity and digital asset markets, reflecting an uptick in the money supply.

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:

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.

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.

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%.

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%.

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.

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.

An analysis of historical Bitcoin Core node versions to examine the updating behavior of node operators over the years.

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.

1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions

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.

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.

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 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.

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%).