The Cumulative Volume Delta (CVD), a fancy metric that measures the net buy/sell pressure, has been negative throughout this period, which is a bit like saying the crowd is cheering for the underdog. But Bitcoin, the reigning champion, has maintained its range between $100,000 and $110,000, absorbing the blows like a pro 🥊.
The iShares Bitcoin Trust (IBIT), BlackRock’s foray into the world of Bitcoin, now boasts an impressive 700,000 BTC, a staggering 55% of the total Bitcoin held across all US spot Bitcoin ETFs 📈. Valued at a cool $80 billion, this milestone is a testament to the company’s aggressive accumulation strategy, as noted by ApolloSats co-founder Thomas Fahrer.
A particular detail, both delicious and scandalous, is the mention of “orderbook” machinations and “approval” affairs; such words call to mind the intricate rituals of Ethereum-based gatherings. Token creation tools and subscription pricing, when glimpsed from behind the curtain, give every impression that PumpFun is hard at work upon its own EVM-compatible dance floor. How exhilarating! One can only imagine the future launches waltzing about, perfectly in step—or perhaps, occasionally, stepping on toes. 💃🕺
On the agenda: the regulatory environment surrounding cryptocurrencies, with a special focus on proposed legislation like the GENIUS Act and the CLARITY Act. Because, you know, clarity is exactly what the crypto world needs right now 😂.
Bitcoin bulls—they never stop, do they? If they’re not talking about the price “mooning,” they’re obsessing over Fed interest-rate cuts and “liquidity easing.” I mean, these guys get excited about the Fed like a kid with a new box of cookies. The dream? Rates go back to zero, just like 2020-21, and then, supposedly, everybody gets super rich… except me. Where’s my bull run, huh? 🤷♂️
To add to the fun, user adoption is spiking. Oh, and CryptoQuant, that oh-so-reliable source, has noted that PancakeSwap-AMM (which, yes, is a decentralized exchange, don’t roll your eyes) is pulling in the big bucks, as expected. More revenue than you can shake a stick at, and it seems PancakeSwap is now *dominating* the Binance Smart Chain (BSC), raking in over 64% of the network’s total revenue. Maybe you should try using it, but then again, you probably have better things to do.
Recently, a company decided to sell its Bitcoin, which is a bit like trading in a vintage Ferrari for a new Tesla. This move marks a significant shift in long-term expectations for Ethereum, suggesting it might be the new kid on the block that everyone wants to be friends with.
This latest endeavor follows an executive order, penned by the ever-visionary President Donald Trump in January, aimed at fortifying America’s position in the crypto industry and, one might say, anointing the nation as the world’s “crypto capital.” The thought of it is enough to make even the most skeptical of crypto enthusiasts do a double-take. 🤯
Not to be outdone, Bit Digital decided to play “now you see it, now you don’t!” with their Bitcoin. Poof! Sold every single coin and hopped on the Ethereum bandwagon like it was the last train out of Crypto City. They’re sitting on 100,000 ETH now. $254.8 million! If they were any more all-in, they’d have run out of chips.🪙🚂
Of course, some explanations for this spike are as clear as mud, but the analysts are still warning us to brace for impact. 🚀💥