📌 Daily Summary
● LIVE TRACKINGBitcoin's price action is closely watched ahead of Friday’s options expiration, with analysts speculating on a potential target of $70,000 as market volatility increases. A CryptoQuant analyst has highlighted that Bitcoin is approaching a critical pain point, suggesting it may establish a bottom in the ongoing bear cycle. Meanwhile, a significant signal last observed at the market's nadir in 2022 has resurfaced, raising questions about whether Bitcoin has truly found its bottom. In institutional news, the first approved cryptocurrency bank in the U.S. has announced a strategic move towards acquiring Bitcoin, indicating a bullish stance on the asset. Conversely, there are troubling reports for Ethereum co-founder Vitalik Buterin, with analysts suggesting he may have divested his ETH holdings near the market's low, compounded by the recent move from a major Ethereum bull firm to sell off portions of its ETH assets.
15:59
Van de Poppe, in his assessment via X, stated that there were signs of a recovery in the overall market outlook.
14:32
A CryptoQuant analyst stated, based on historical data, that the bottom of the bear market came when the Bitcoin price fell below the LTH cost basis.
13:46
One analyst said that the capitulation phase among Bitcoin miners is nearing its end, increasing the likelihood of a price bottom forming in BTC.
13:10
Anchorage Digital, the first crypto bank approved in the US, announced that it has acquired perpetual preferred shares of Bitcoin (BTC) treasury company Strategy.
12:27
According to one analyst, Ethereum founder Vitalik Buterin may have sold his ETH at the bottom. The analyst gave three levels of selling pressure.
