The first quote | BTC is expected to be $180,000 at the top of the price cycle, Google supports BTC and other online wallet address searches, and Filecoin liquid staking protocol Glif launches a credit program
Crypto Daily Digest: New BTC Price Prediction Cycle Top $180,000, Google Supports Multiple BTC Wallet Address Searches, Filecoin Liquid Staking Protocol Glif Launches Points Program
Looking at the trading activity of Bitcoin ETFs first, according to Farside Investor data, Grayscale's Bitcoin spot ETF GBTC outflows were $104.9 million on March 28, while the Fidelity Bitcoin Spot ETF (FBTC) saw inflows of $68.1 million, Bitwise Bitcoin Spot ETF (BITB) saw inflows of $67 million, and ARK 21Shares Bitcoin Spot ETF (ARKB) saw inflows of $2,760 $10,000.
The BTC price broke through $71000 again, and then fell back slightly, and is now trading at $70382.9, and the whole is in a sideways adjustment. According to Laurent Benayoun, CEO of Acheron Trading and expert in quantitative trading strategies, the price of Bitcoin could rise by another 150% during the current bull cycle. He believes that the BTC price could reach the top of the $180,000 cycle based on a number of factors, including spot Bitcoin exchange-traded funds (ETFs) and a reduction in new supply from the upcoming Bitcoin halving.
"If we look at the historical performance, we can see that the historical multiples are decreasing for each cycle. So, if we apply this reasoning, it's probably 2 to 3 times what we saw in previous cycles, so we can say about $120,000 to $180,000 per unit. ”
At the same time, Benayoun believes that improved financial policy in the United States will also help the price of bitcoin appreciate: "The market has digested the impact of falling interest rates, because interest rates have been flattening, so it is reasonable to expect interest rates to decrease in the near future." ”
Google recently opened up new features to search blockchain data on the Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom networks. The search results when entering the wallet address show the remaining token balance in each web wallet and when the balance was last updated.
"The balance only shows the native tokens of each network. The last updated timestamp shows the balance as of the last external transaction. Updates are not instantaneous," Google noted in its search results.
This month, Google began displaying search results for wallet balances to users searching for Ethereum Name Service (ENS) domains. ENS provides readable domain names for Ethereum wallet addresses, such as the domain name of Ethereum creator Vitalik Buterin, vitalik.eth.
Filecoin's liquid staking protocol, Glif, has launched a points program that will distribute 75 million points. Glif is the largest liquid staking protocol in the Filecoin ecosystem, with a total value of more than $372 million locked in Glif according to Filfox, with a points program launched ahead of the token's release.
GLIF said on Thursday that points are the first step in decentralizing protocol decision-making, and that both parties in the system — Filecoin storage providers (SPs) and liquidity providers (LPs) — are eligible for points, adding that points will be awarded to historical and future SPs and LPs.
As a liquidity leasing protocol, Glif allows Filecoin (FIL) token holders to deposit FIL into a liquidity pool, and in return, receive Glif's native liquidity leasing token, iFIL. The SP rents out the deposited FIL and pays rent to the LP and the agreement.
Market Analysis: BTC High Sideways Copycat Season Is Coming?
Market Trend
With Bitcoin holding above $70,000, the overall cryptocurrency market is trending upward. On the macroeconomic front, the U.S. stock market is in a volatile market, and investors are awaiting the release of PCE inflation data.
Market Hotspots
Meme-based cryptocurrencies such as DOGE, FLOKI, WIF, BOME, etc. have ushered in a sharp rise. In particular, WIF once approached $4 and now has a market capitalization of $3.8 billion, equivalent to 4.5% of SOL's market capitalization. It is worth noting that, in general, the total market capitalization of a single meme coin accounts for up to 5% of the public chain in which the token is located.
Wormhole announced that it will be open to receive airdropped W tokens at 19:30 Beijing time on April 3, and Gate.io will continue to pay attention. At the same time, Parcl, an RWA concept protocol on the Solana chain, announced plans for an airdrop. Parcl, a real estate index investment platform, previously closed a $4.1 million seed round from investors such as Dragonfly and Solana Ventures.
The public chain REI rose more than 1 times on the same day, and it is rumored to cooperate with OpenTaskAI to transform into an AI public chain, which is similar to the story of the transformation of the Near public chain into an AI public chain. REI has risen more than 10x this year, breaking through the 2022 price highs and hitting a new all-time high.
Source: Gate.io
To sum up, the overall cryptocurrency market is showing an upward trend, and the concept of meme and AI still continues to receive market attention, and investors need to carefully grasp the market situation in order to make informed investment decisions.
Macro: The first quarter is coming to an end, with the three major indices outperforming quarterly gains, with most markets closed for Easter
Reuters reported that all three major U.S. indexes recorded strong quarterly gains on Thursday, with the S&P 500 rising 10.16%, its strongest performance in five years in the first quarter, supported by optimism about artificial intelligence (AI)-related stocks and expectations that the Federal Reserve will start cutting interest rates this year. At this time, investors are digesting the latest batch of economic data.
The data showed that the U.S. economy grew faster in the fourth quarter than previously expected, in part due to strong consumer spending, while another report noted low initial jobless claims, suggesting that the labor market remains firmly on its feet.
Overnight, Fed Governor Christopher Waller said that the recent inflation data did not meet the expected reduction value, confirming the case for the central bank to delay cutting its short-term interest rate target, but did not rule out the possibility of cutting interest rates later this year. According to the CME's FedWatch tool, the market is pricing in about a 64% chance that the Fed will cut rates by at least 25 basis points (bps) in June.
Most of the 11 major sectors performed well in the quarter, including communication services, energy, technology, etc., with only real estate showing declines.
The highlight of the world market on Friday will be the US personal consumption expenditures (PCE) inflation data, which will be released after the Asian trading day, while most of the stock and bond markets in Europe and the US are closed for Easter. As the first quarter draws to a close, global sentiment is high as Thursday's revised U.S. fourth-quarter growth and inflation data drives a "soft landing" or even a "no landing" scenario.
In Asia, investors focused on a range of Japanese indicators, including unemployment, retail sales, industrial production and Tokyo inflation. Japanese equities are expected to rebound from Thursday's 1.5% decline, but could be in trouble if the yen strengthens further.
The yen exchange rate remains in focus, with Japanese Prime Minister Fumio Kishida intervening in the debate on Thursday, saying: "We will monitor the exchange rate movement with a high sense of urgency and respond appropriately, and do not rule out any option to deal with excessive exchange rate volatility." ”
In commodities, U.S. crude rose 2.04% to $83.01 a barrel, and Brent rose to $87.5, up 1.64% on the day.
Author:Sherry S. & Icing.
*This article represents the views of the author only and does not constitute any trading advice.
*The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible.
The content is for reference only, not a solicitation or offer. No investment, tax, or legal advice provided. See Disclaimer for more risks disclosure.
The first quote | BTC is expected to be $180,000 at the top of the price cycle, Google supports BTC and other online wallet address searches, and Filecoin liquid staking protocol Glif launches a credit program
Crypto Daily Digest: New BTC Price Prediction Cycle Top $180,000, Google Supports Multiple BTC Wallet Address Searches, Filecoin Liquid Staking Protocol Glif Launches Points Program
Looking at the trading activity of Bitcoin ETFs first, according to Farside Investor data, Grayscale's Bitcoin spot ETF GBTC outflows were $104.9 million on March 28, while the Fidelity Bitcoin Spot ETF (FBTC) saw inflows of $68.1 million, Bitwise Bitcoin Spot ETF (BITB) saw inflows of $67 million, and ARK 21Shares Bitcoin Spot ETF (ARKB) saw inflows of $2,760 $10,000.
The BTC price broke through $71000 again, and then fell back slightly, and is now trading at $70382.9, and the whole is in a sideways adjustment. According to Laurent Benayoun, CEO of Acheron Trading and expert in quantitative trading strategies, the price of Bitcoin could rise by another 150% during the current bull cycle. He believes that the BTC price could reach the top of the $180,000 cycle based on a number of factors, including spot Bitcoin exchange-traded funds (ETFs) and a reduction in new supply from the upcoming Bitcoin halving.
"If we look at the historical performance, we can see that the historical multiples are decreasing for each cycle. So, if we apply this reasoning, it's probably 2 to 3 times what we saw in previous cycles, so we can say about $120,000 to $180,000 per unit. ”
At the same time, Benayoun believes that improved financial policy in the United States will also help the price of bitcoin appreciate: "The market has digested the impact of falling interest rates, because interest rates have been flattening, so it is reasonable to expect interest rates to decrease in the near future." ”
Google recently opened up new features to search blockchain data on the Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom networks. The search results when entering the wallet address show the remaining token balance in each web wallet and when the balance was last updated.
"The balance only shows the native tokens of each network. The last updated timestamp shows the balance as of the last external transaction. Updates are not instantaneous," Google noted in its search results.
This month, Google began displaying search results for wallet balances to users searching for Ethereum Name Service (ENS) domains. ENS provides readable domain names for Ethereum wallet addresses, such as the domain name of Ethereum creator Vitalik Buterin, vitalik.eth.
Filecoin's liquid staking protocol, Glif, has launched a points program that will distribute 75 million points. Glif is the largest liquid staking protocol in the Filecoin ecosystem, with a total value of more than $372 million locked in Glif according to Filfox, with a points program launched ahead of the token's release.
GLIF said on Thursday that points are the first step in decentralizing protocol decision-making, and that both parties in the system — Filecoin storage providers (SPs) and liquidity providers (LPs) — are eligible for points, adding that points will be awarded to historical and future SPs and LPs.
As a liquidity leasing protocol, Glif allows Filecoin (FIL) token holders to deposit FIL into a liquidity pool, and in return, receive Glif's native liquidity leasing token, iFIL. The SP rents out the deposited FIL and pays rent to the LP and the agreement.
Market Analysis: BTC High Sideways Copycat Season Is Coming?
Market Trend
With Bitcoin holding above $70,000, the overall cryptocurrency market is trending upward. On the macroeconomic front, the U.S. stock market is in a volatile market, and investors are awaiting the release of PCE inflation data.
Market Hotspots
Meme-based cryptocurrencies such as DOGE, FLOKI, WIF, BOME, etc. have ushered in a sharp rise. In particular, WIF once approached $4 and now has a market capitalization of $3.8 billion, equivalent to 4.5% of SOL's market capitalization. It is worth noting that, in general, the total market capitalization of a single meme coin accounts for up to 5% of the public chain in which the token is located.
Wormhole announced that it will be open to receive airdropped W tokens at 19:30 Beijing time on April 3, and Gate.io will continue to pay attention. At the same time, Parcl, an RWA concept protocol on the Solana chain, announced plans for an airdrop. Parcl, a real estate index investment platform, previously closed a $4.1 million seed round from investors such as Dragonfly and Solana Ventures.
The public chain REI rose more than 1 times on the same day, and it is rumored to cooperate with OpenTaskAI to transform into an AI public chain, which is similar to the story of the transformation of the Near public chain into an AI public chain. REI has risen more than 10x this year, breaking through the 2022 price highs and hitting a new all-time high.
Source: Gate.io
To sum up, the overall cryptocurrency market is showing an upward trend, and the concept of meme and AI still continues to receive market attention, and investors need to carefully grasp the market situation in order to make informed investment decisions.
Macro: The first quarter is coming to an end, with the three major indices outperforming quarterly gains, with most markets closed for Easter
Reuters reported that all three major U.S. indexes recorded strong quarterly gains on Thursday, with the S&P 500 rising 10.16%, its strongest performance in five years in the first quarter, supported by optimism about artificial intelligence (AI)-related stocks and expectations that the Federal Reserve will start cutting interest rates this year. At this time, investors are digesting the latest batch of economic data.
The data showed that the U.S. economy grew faster in the fourth quarter than previously expected, in part due to strong consumer spending, while another report noted low initial jobless claims, suggesting that the labor market remains firmly on its feet.
Overnight, Fed Governor Christopher Waller said that the recent inflation data did not meet the expected reduction value, confirming the case for the central bank to delay cutting its short-term interest rate target, but did not rule out the possibility of cutting interest rates later this year. According to the CME's FedWatch tool, the market is pricing in about a 64% chance that the Fed will cut rates by at least 25 basis points (bps) in June.
Most of the 11 major sectors performed well in the quarter, including communication services, energy, technology, etc., with only real estate showing declines.
The highlight of the world market on Friday will be the US personal consumption expenditures (PCE) inflation data, which will be released after the Asian trading day, while most of the stock and bond markets in Europe and the US are closed for Easter. As the first quarter draws to a close, global sentiment is high as Thursday's revised U.S. fourth-quarter growth and inflation data drives a "soft landing" or even a "no landing" scenario.
In Asia, investors focused on a range of Japanese indicators, including unemployment, retail sales, industrial production and Tokyo inflation. Japanese equities are expected to rebound from Thursday's 1.5% decline, but could be in trouble if the yen strengthens further.
The yen exchange rate remains in focus, with Japanese Prime Minister Fumio Kishida intervening in the debate on Thursday, saying: "We will monitor the exchange rate movement with a high sense of urgency and respond appropriately, and do not rule out any option to deal with excessive exchange rate volatility." ”
In commodities, U.S. crude rose 2.04% to $83.01 a barrel, and Brent rose to $87.5, up 1.64% on the day.
Author:Sherry S. & Icing. *This article represents the views of the author only and does not constitute any trading advice. *The content of this article is original, the copyright is owned by Gate.io, if you need to reprint, please indicate the author and source, otherwise you will be held legally responsible.