Daily Brief

What Will Push Bitcoin Higher?

gm Bankless Nation, Bitcoin found its new ATH today before crashing in dramatic fashion. Welcome to crypto!
Mar 5, 2024 β€’ 3 min read
What Will Push Bitcoin Higher?
Published on Mar 5, 2024
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BTC Hits $69,324
  1. 🟠 BTC gets high. Bitcoin surpassed its all-time high on Tuesday, and crypto celebrated for seconds before traders dumped at size, bringing BTC down as far as nearly $61K.
  2. πŸ’° MicroStrategy reloads. Michael Saylor wants more BTC and is raising $600 million to purchase it.
  3. πŸ‘©β€βš–οΈ Do Kwon strikes back. Do Kwon beat the odds and won his extradition appeal. Next, the case faces a higher court in Montenegro.
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What Will Push Bitcoin Higher?

πŸ“Š All-time high moment. As if lifted towards the heavens by inflows to spot BTC ETFs themselves, Bitcoin’s price ascended upwards by 2% on the US open to hit all-time highs on many exchanges, including Coinbase, where price reached $69,324 per coin!

While celebratory tweets cataloged the moment across Crypto Twitter, elation was short-lived, with BTC unable to hold above all-time highs for even a minute before plunging more than 10% over the next few hours. What catalysts can push BTC back above all-time highs?

Read on for more analysis πŸ‘‡

Prices as of 5pm ET 24hr 7d
Crypto $2.36T β†˜ 5.1% β†— 10.3%
BTC $63,342 β†˜ 6.1% β†— 11.6%
ETH $3,520 β†˜ 1.7% β†— 8.4%
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8 Bitcoin L2s to Watch
Bankless Authors: William Peaster & David C.

As Bitcoin celebrates a new all-time high, it's time to take a closer look at one of the investment narratives that's helping drive renewed interest toward the asset – Bitcoin L2s.

Check out the 8 BTC Layer 2s we're watching πŸ‘‡


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Why BONK Keeps Surging
Bankless Author: David C.

It is undoubtedly memecoin season.

Now, it should be obvious, but memecoin gains don't always have a rhyme or reason. That being said, BONK's recent pump has a lot going for it, narrative-wise.

Here's why BONK is getting a lot of attention πŸ‘‡

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What We're Reading
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Earn Airdrops!

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It's airdrop season, and plenty of other protocols are preparing to reward early users. Get on their lists. Start hunting!

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.