Dear prescient crypto investors, you may have heard through the grapevine that Bitcoin reached an all-time high in Canadian dollars of $86,600...??
- What’s so special about BTC achieving a new CAD ATH, this time??
- Meanwhile... What’s up with Ether staking and exchange reserves? And—?
- ‘New’ emails from pre-disappearance Satoshi Nakamoto? ???
- It's not that Bitcoin has just reached a CAD lifetime high of $86,500 that’s particularly exciting—after all, the CAD has notoriously lost a tremendous amount of its purchasing over the last few years—but rather, that this milestone marks the first time that Bitcoin has ever hit a new all-time high pre-halving. Historically in bitcoin’s 4-year cycles, this happens months after the ‘halvening’, but ostensibly due to new Bitcoin Spot ETF demand, in 2024, it happened months prior. Bitcoin's price surged over 20% to reach $64,000 (CA$86.6K), marking a new high for 2024. The 50% price increase this month is largely attributed to anticipation surrounding the upcoming supply (block rewards subsidy) halving event (estimated to take place on April 20th), typically followed by strong upward price movements. While some analysts caution about heavy leverage usage and potential liquidation-driven corrections due to high funding rates, options analysts believe the rally has further potential, dismissing concerns of overextension. Cointelegraph (More articles on this below!)?
- New emails between Bitcoin creator Satoshi Nakamoto and early protocol contributors sparked controversy after their introduction as evidence in the lawsuit against Craig “Faketoshi” Wright. In the Crypto Open Patent Alliance (COPA) v. Craig Wright trial, Day 15 in the UK High Court of Justice saw the emergence of new evidence stealing the spotlight. Craig Wright, the self-proclaimed Bitcoin creator, returned to testify while attention shifted to never-before-seen emails between Satoshi and early Bitcoin developers Martti Malmi and Adam Back. COPA seeks to restrain Wright from claiming authorship of Bitcoin's whitepaper, aiming to halt his legal actions against Bitcoin educators and Core developers. Martti Malmi, the first Bitcoin.org administrator after Satoshi, released his emails with Satoshi on GitHub, prompted by Wright's use of their correspondence as evidence. Malmi deemed the publication safe due to outdated information. Pete Rizzo??
More News Nuggets:?
- COPA v. Craig Wright trial analyzes newly published Satoshi emails Protos?
- Spot Bitcoin ETFs record new ATH of $680M as BTC bull run gathers pace Cointelegraph?
- Bitcoin Suddenly Plummets 7% After Hitting $64K, Triggering Over $700M Crypto Liquidations Coindesk?
- Bitcoin Is 12% Below Its USD All-Time High 52 Days From Halving Decrypt?
- Bitcoin ETF inflows hit new peak Wednesday amid BTC price climb Blockworks?
- US gov’t moved $922 million of seized Bitcoin after BTC price broke $60,000 Cointelegraph?
?? Weekly Moves??
- The global cryptocurrency market cap continued its rise last week, flying past the $2.43T US mark to settle well above the CA$3T mark... at CA $3.3T!? ?
- Bitcoin’s market dominance regained the 54% level, while Ethereum held its market share ground at 18.6%.?
- BTC is currently the top trading pair on NDAX, followed by Ethereum? ?
- Bitcoin was down over 20% on the week, trading between CA$84.5 and $85.5K (at time of writing), while ether was up 17%, and is currently trading well above $4.6K.?
Prices and percentages as of 4/3/2024 1:15 AM EST?
?? Educational Resources?
For those of you looking to learn more about bitcoin and crypto markets this week:?
- John Light is a bitcoin researcher working on product at Sovryn and previously the ZK-Rollup Research Fellow at the Human Rights Foundation. In this interview, we discuss rollups on Bitcoin, privacy & scaling, and scaling bitcoin in a self sovereign way. - What Bitcoin Did - Scaling Bitcoin Privately with John Light?
- Join us with Alex Leishman, River’s CEO, for a dive into Bitcoin’s ecosystem, discussing Argentina, Bitwise custody, Lightning Network’s prospects, Ordinals, equity tokenization, BitVM, ETFs, custody improvements, AI, and institutional custody. We also touch on OTC markets’ dynamics. A compact overview of the current and future Bitcoin landscape. - Bitcoin Fundamentals (The Investors Podcast) - BITCOIN TECH UPDATE W/ ALEX LEISHMAN?
?? Upcoming Events?
Mar 12 - February CPI #s?
Mar 20 - FOMC Rate decision?
Mid-April- At block height 840,000; The Bitcoin Halving?
May – SEC Decision on BlackRock's Ether Spot ETF Decision?
THIS WEEKLY UPDATE AND WEBSITE ARE NOT INTENDED TO PROVIDE INVESTMENT, LEGAL, ACCOUNTING, TAX, OR ANY OTHER ADVICE AND SHOULD NOT BE RELIED ON IN THAT OR ANY OTHER REGARD. THE INFORMATION CONTAINED HEREIN IS FOR INFORMATION PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS AN OFFER OR SOLICITATION FOR THE SALE OR PURCHASE OF CRYPTOCURRENCIES OR OTHERWISE.?
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All right, friends. As you know, for buying bitcoin I recommend NDAX.?
- Largest platform in Canada by volume (i.e. deep liquidity and paper-thin spreads)?
- 0.2% trade commission across the board. No hidden fees/markups.?
- Intuitive UI (+ advanced orders/ technical tools for traders)?
IMO it's the safest, most transparent and least expensive marketplace in Canada for bitcoin.? Plus, NDAX is the only crypto trading platform in Canada that is Soc 2 Type 2 compliant... (And this--publicly audited by a reputable Canadian accounting firm-- for several years in a row). ? Deposits are free, and receive $10 when you fund your account with $100CAD+ Sign up today.?
