Bitcoin about to blast through $60,000, Chamath Palihapitiya says maximalist should chill out, Ethereum whales refuse to sell and Cardano is set to be added to BlockFi services.
Bitcoin is in a bull trend right now, consolidating around the all time high just below $60,000 which is bullish. The last Bitcoin correction took approximately 28 days, the current correction has taken 27 days (0:53)
On-chain data shows Bitcoin continued supply shock in sync with to USD money printing from March, 2020. Coinbase BTC supply dropping off a clip suggests US institutional buying on the exchange (1:24).
The number of addresses holding more than 10,000 ETH has hardly changed since the asset hit an all-time high of $2,050 (Feb. 20) suggesting Ethereum whales are refusing to sell.
In fact, according to data from Santiment, the number of wallets holding over 10K ETH — worth around $17.7 million at current prices — has declined by just 0.9% over the past four months. That compares to a 7.2% fall in the number of wallets holding 100 to 10K ETH (3:54)
The mid-tier level addresses appear to be depositing more ETH into DeFi as the amount of the asset locked across protocols in the sector has also hit an all-time high (5:35)
Other featured news include Blockfi CEO confirmation that Cardano will be added to their services as soon as they can (7:25). Joe Rogan 4 hours long Bitcoin podcast set to drop in 2 weeks (8:21). Chamath Palihapitiya says Bitcoin maximalist needs to chill out though he is an elitist and Raoul Pal agrees (9:27)
This episode premiered on March 20th, 2021.