BTC breaks through $70,000
The market shows BTC has broken through $70,000, currently reporting at $70,001.76. The intraday decline has reached 0.89%, and the market fluctuations are large, so please be cautious with risk control.
Bitcoin Magazine: Google has indexed Bitcoin data in search engine
Bitcoin Magazine posted on social media that Google has indexed bitcoin data in its search engine.
Bitcoin Halving and ETFs Could Lead to Mainstream Adoption by 2024
Bitcoin has hit a new all-time high of $72,000, with potential macroeconomic uncertainty and upcoming elections affecting its price. The approval of 11 spot bitcoin exchange-traded funds by the U.S. SEC and the upcoming 4th Bitcoin Halving event in mid-April are two key factors contributing to its positive performance. The halving process, which reduces bitcoin's supply, is expected to have a positive impact on its price and could lead to increased mainstream adoption in 2024. While the impact of the halving on the BTC market in 2024 and beyond remains to be seen, smart traders and investors understand the importance of history repeating itself.
CryptoQuant: Available Bitcoin may dry up in the next “12 months”
Bitcoin appears to be experiencing a "seller liquidity crisis". The on-chain analysis platform CryptoQuant pointed out that record-breaking Bitcoin demand combined with a decrease in seller liquidity has caused Bitcoin's liquidity inventory to drop to its lowest level in several months. The organization estimates that if the current market growth rate is maintained, the current Bitcoin seller liquidity inventory is only sufficient to meet demand for twelve months. CryptoQuant added that its calculations only include "accumulation addresses" (i.e. those addresses that have not had outgoing transactions), which means that net demand may still be higher.
The fifth largest Bitcoin address transferred all 94,500 BTC held to 3 addresses on March 23
Monitoring data disclosed by Arkham on the X platform shows that the fifth largest Bitcoin address transferred almost all of its holdings, approximately 94,500 BTC (worth about $6.05 billion), to three new addresses in the early hours of Saturday, March 23. Only 1.4 BTC remained in the original address. These Bitcoin have not moved since they were received in 2019, and it is currently unclear who owns the address, which does not appear to be associated with any exchanges.
Data: BTC falls below $64,000
OKX-BTC/USDT is currently trading at $63996.20, with a 24-hour decrease of 4.77%.
3,595 BTC transferred from unknown wallet to Coinbase
According to blockchain data tracking service Whale Alert, at 5:23 pm on March 22nd Beijing time, 3,595 BTC were transferred from an unknown wallet to Coinbase, worth $237,257,125.
JPMorgan warns of overbought bitcoin as spot ETFs see outflows
According to JPMorgan, bitcoin is still overbought and profit-taking could continue leading up to the halving event. The past week saw a significant outflow in spot ETFs, which challenges the idea of sustained net inflows. Despite the recent correction, positioning still looks overbought and the bank predicts that profit-taking will continue as the halving event approaches. The quadrennial reward halving, which cuts miners' rewards in half, is expected in mid-April.
The Oklahoma Legislature yesterday passed a bill to protect Bitcoin rights
Mining company Hiveon posted on social media, saying that yesterday, the Oklahoma State Council passed a bill with a vote of 81:1 aimed at protecting Bitcoin rights, the result of efforts by Dennis Porter, Satoshi Action Fund, and the Oklahoma Bitcoin Association. The rights bill includes mining, buying and selling Bitcoin, self-custody, and running nodes; the bill was passed by the Senate and signed by the governor. The "mining rights" bill had previously passed in Montana and Missouri in 2023.
There are currently only about 500 blocks until Bitcoin’s next halving
According to Nicehash data, there are only about 500 blocks left until the next Bitcoin halving. The information shows that the halving event is expected to occur at block height 840,000, and the current block height has reached 835,532. In addition, there are less than 24 days left until the next Bitcoin halving.
