BitDigest March 2 · Issue #852
- Bitcoin and ether trading back at $49,000 and $1,570 respectively
- New York’s Attorney General issues separate crypto warnings to investors and operating businesses
- Goldman Sachs looking to offer bitcoin trading to institutional clients
Sorry, but Coinmarketcap.com API’s are not linking this morning. Hopefully the daily chart will return tomorrow.
The premium to NAV returned positive for Grayscale’s Bitcoin Trust (OTCQX: GBTC) and Ethereum Trust (OTCQX: ETHE) but remains negative for Canada’s Purpose Bitcoin ETF (TSE: BTCC.U).
Crypto Fear & Greed Index
The Fear & Greed Index for bitcoin and other large cryptocurrencies is at 78 after falling and recovering from a 5 month low of 38 as bitcoin closed at $45,000 to end February. Surprisingly, the index did not drop as much as expected last week when bitcoin slipped to a similar level and after sliding from the mid 90s posting in a neutral range between 50 and 60 for most of the week.
🅱️ It appears this index is more weighted to the closing price of bitcoin than daily trading ranges.
The Headlines
SEC Backs Away from Minimum Income Requirement for Crypto Investors
NYAG Issues Warning on Crypto Activities
Goldman Sachs Restarting Crypto Trading Desk
HIVE Reports Jump in Income from Crypto Mining
MicroStrategy Buys the Dip
CBOE Files to List VanEck Bitcoin ETF
Chiliz Funding US Expansion
Dan Loeb 'Doing a Deep Dive into Crypto'
Rakuten Adds Crypto to 'Pay' App
Market Data
Coinbase Custodies 11% of all Crypto Assets
25% of Latin Americans Want to Use Crypto
Bitcoin is a 'Legitimate and Distinct Asset Class'
Exchange, Custody and Product News
FTX Adds PayPal Integration
Reports you may have missed
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC1.36% (-0.28%) trading at $64k and ETH1.50% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC1.36% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC1.36% continued its upward trend over the weekend, now trading just below $66k. ETH1.50% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL-0.86% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...
