Highlights:
Fascinating week with Bitcoin (BTC) printing an All-Time-High (ATH) in USD and an immediate pullback twice (liquidations over a billion USD on Tuesday) and swift recovery. Open interest and funding rates resetting and slowly normalizing. Glitches and errors all over.
The premium on Bitcoin traded on South Korean exchanges compared to the global market, known as the "Kimchi Premium," reached 10.32%.
Ethereum (ETH) touching 4k before falling back as well to low 3800s and also recovering immediately afterwards. Memecoins going crazy and driving the fees up on the Ethereum network making it unusable.
For those who are considering trading/investing by themselves in Crypto ;)
Another milestone: Recorded my first podcast end of February (in Dutch):
Here we go:
Bitcoin (BTC):
https://cointelegraph.com/news/bitcoin-accumulation-phase-ends-etfs-100k-btc-price-target
https://cryptobriefing.com/sec-delays-options-trading-bitcoin-etfs/
https://www.theblock.co/post/281321/blackrock-spot-bitcoin-etfs-purchase-for-global-allocation-fund
https://www.theblock.co/post/281339/bitcoin-etf-supply-4-percent
https://www.theblock.co/post/281216/jpmorgan-bitcoin-gold-investors-portfolios
And on Tuesday: https://www.coindesk.com/markets/2024/03/05/bitcoin-tumbles-6-after-hitting-record-high-as-mounting-sell-orders-cap-price-gains/?
Glitches and errors:
https://www.coindesk.com/markets/2024/03/05/bitcoineuro-suffers-flash-crash-on-coinbase/?
https://cryptobriefing.com/coinbases-technical-issues-bitcoin-soars-67000/?
https://cointelegraph.com/news/binance-coinbase-crash-caused-algorithmic-trading-firms-dydx
Ethereum (ETH):
https://www.theblock.co/post/281351/ether-surpasses-4000-usd
https://cointelegraph.com/news/sec-delays-ethereum-etf-applications-blackrock-fidelity
https://decrypt.co/220545/sec-chair-gary-gensler-ethereum-security
https://www.theblock.co/post/280535/over-115-billion-of-ether-is-now-staked-on-the-beacon-chain
Memecoins on Ethereum:
MK Opinion
Apparently decent selling interest at around 70k BTC wise and at 4k for ETH. What worries me (not surprised) is at this point Ethereum is completely unusable due to high gas fees (Dencun upgrade won’t fix this, only benefitting Layer2s) and the odds for a ETH spot ETF approval this May are slashed (as expected).
Noticing also Bitcoin halving parties being organized all over the world. Before you go and enjoy yoursef, friendly reminder:
Coin | Other News:
Solana (SOL):
https://cryptobriefing.com/pantera-capital-250-million-sol-purchase-ftx/
https://decrypt.co/220543/solana-2-year-high-bonk-wif-trading-volume
Jito (JTO):
Pyth:
Coinbase on “AI tokens” and I agree with this:
AI-related tokens are pumping as the global AI Nvidia conference for developers and engineers approaches on March 18.
Fetch.ai (FET):
Optimism (OP):
Volumes:
Eigenlayer:
Stacks (STX):
ETH Layer2s:
Avalanche (AVAX):
Injective (INJ):
Arbitrum (ARB):
Ethena:
MEXC “Exchange” (Sidenote: Stay Away):
Binance (BNB):
Uniswap (UNI):
Microstrategy (MSTR):
https://cointelegraph.com/news/microstrategy-raise-600-million-via-convertible-note-buy-more-bitcoin
Revolut-Metamask:
Coinbase (COIN):
And excellent news that Deutsche Borse is ready to go:
TreeCap Blockchain Technology Strategy: Secure Sustainable Investing
The crypto landscape in 2024 promises a dynamic and transformative journey. As institutional involvement grows, technology advances, and novel ideas emerge, the industry is set to overcome challenges and redefine the future of finance and technology. From maturing tokenization projects to the integration of blockchain into physical infrastructure, the future holds exciting possibilities for the crypto and blockchain space. Crypto: From Speculation → Utility → Fundamentals
Feb24 model portfolio return +54.7%*
* Returns until March2024 excluding: staking income, additions/deletions, rebalancing, core & satellite trading and including all fees. Source: CoinMarketCap.
If you have any questions, please reach out to me anytime:
mathijs@treecap.nl | Mobile: +31655003160
Tel: +31208204710 | Visiting Address: Beursplein 5 Amsterdam. The Netherlands
MKs Short Term Risk Report:
Justin Sun (TRON, Huobi)
SEC / Regulatory
USDT
US Gov / Celsius / Genesis unwind
Capital Markets in general (China, Credit Event / Yields, FED not delivering)
Escalation in the Middle East, Taiwan-China
Euphoria, Parabolic Gains, Meme coin Frenzy
The week ahead by Nomura and Livesquawk:
https://www.nomuraconnects.com/focused-thinking-posts/the-economy-next-week/?
https://www.livesquawk.com/report/special_ls-focus-on-the-week-ahead
Upcoming Events:
Will be attending the following conferences/events:
Breda NL, 14th of March: https://wtty.xyz/
Agenda:
Tokens:
Unlocks:
Have a wonderful Sunday, and thanks for reading!
No investment advice etc. Links to third party websites are provided as a convenience and the inclusion of such links does not imply any endorsement, approval, investigation, verification or monitoring by us of any content or information contained within or accessible from the linked sites. By clicking on the link, you acknowledge that you are entering a third-party website subject to its own terms and conditions. M2tK/TreeCap disclaims responsibility for content, legality of access or suitability of the third-party websites.