BREAKING: Bitcoin has officially crossed above $1 trillion in market cap for the first time since December 2021.
Since December 2022, Bitcoin has added ~$700 billion in market cap. For the first time since April 2022, the total market cap of crypto is above $2 trillion. Source: Kobeissi Letter, Barchart
JUST IN: Bitcoin ETFs have taken in over $2 BILLION of new funds in just the last 4 days.
Yesterday was the biggest day of inflows since launch day, with $631m! 🚀 Source: Bitcoin Archive
What's the craziest Bitcoin chart in the world right now?
Answer: $BTC in Egyptian Pound $EGP ... Source: Erik Dale
Coingecko Valentine's day humour
Source: CoinGecko
Bitcoin' Electrical Cost, the rock solid historical price floor for Bitcoin, is at $31.6K today.
It will double in 63 days. Source: Capriole, Charles Edwards
Stock-to-Flow (S2F) simplified: ALL bitcoin upside is around halvings.
If you split BTC price in 2 parts, one around halvings (green) and one between halvings (red), then you see that ALL gain is around halvings. Ergo: halvings/S2F/scarcity is the root cause of BTC value. Source: PlanB @100trillionUSD
Bitcoin spot ETF launch will be remembered as a major commercial success.
There’s been over 5500 ETF launches in history. NEVER before has an ETF reached $3 Billion AUM in less than 30 days… until now. Both Blackrock and Fidelity’s Bitcoin spot ETFs have just done it. A month after the SEC approval, investors have poured a net $2.8bn into Bitcoin ETFs. Gear up for a Bitcoin FOMO rally to all-time highs, Bernstein's Chhugani says: The market priced in the ETF approval news quickly, but has not priced in the ETF inflows and the upcoming supply crunch. Chhugani believes that the money is still coming from the ‘believers’, who have discovered an easy way to get Bitcoin in their broker accounts via the ETFs. "The disbelievers stay on the sidelines, and based on our investor conversations, we feel that the early interest we are getting is from new curious investors, not yet deployed, but intrigued enough to learn about Bitcoin. The ETF has added a sense of legitimacy, so far missing in the crypto sector. We expect many of these new Bitcoin enthusiasts to allocate capital in the coming days and we think Bitcoin ETFs/Bitcoin miners could benefit, in that scenario". Source: Bloomberg, HolgerZ
BREAKING: ETFs are buying 12.5x more bitcoin per day than $BTC network can produce
Source image: Motley Fool, BITCOINLFG
