Bitcoin eyes all-time high, analysts predict what’s next, Solana on its own bull run

Is Bitcoin about to hit a new all-time High before the harving event here's What the analysts have to Say good morning you're listening to the Ryzen crypto podcast by coin Telegraph With me Robert bags steering you through The crypto Cosmos with daily dispatches From the digital Frontier if you want to Be at the front of the pack in crypto And the pack is growing you better click That follow button grab yourself a Coffee and let's get into It today is just two packed with Interesting stories for me to do a Comprehensive rundown so here's the tldr We're going to cover everything Happening in Bitcoin salana going on a Ball run of his own and how s bankman Freed is Shilling it to his prison Guards you know where we're going to Start where we have to start it's Bitcoin just 24 hours ago as I recorded Yesterday's episode we were below $60,000 eyeing that threshold in fact The 24-hour low was $57,200 had another day of Bitcoin going Parabolic and in the last day we have Topped out at [Music] $64,500 for the harving event in April And naturally many said that was never Going to happen now a $69,000 price tag Is a Stones throw away and it all seems Too possible there are a few different

Takes on this with some analysts Anticipating a continued upward trend For some time and some expecting some Resistance and then some predicting a Snapback for a dose of bullish sentiment The independent Market analyst Nuna Business noted that bitcoin's relative Strength index RSI is above 7 RSI is more or less a measure of Momentum in whichever direction a stock Or token is moving and 70 is decently High so this suggests that Bitcoin has a Good amount of upward momentum Interestingly though the analyst noted That in previous Market Cycles whenever Bitcoin's RSI went north of 70 bitcoin's Price continued upward for at least 335 days now it's no secret I'm not an Analyst but what I would say is that the Market feels as if it has changed more This cycle than any before it Particularly with the ETFs so I'm always Tentative around inductive reasoning but The evidence is there and if this Happens again and BTC Rises for over 335 Days where on Earth will the price end Up if you want to taper your Expectations a little some analysts have A few warnings for you Axel kibar a Chartered Market technician and an exf Fund manager warned that bitcoin's Market structure and high funding rates Across the market are a sign of heavy Leverage use and will event ually lead

To liquidation driven correction in Short he expects that Bitcoin is going To start pulling back in response to the Forecasts of Bitcoin hitting $200,000 kibar noted that we are closing In at what he believes to be a Resistance point at between 65,000 $68,000 this call to tread carefully is Echoed by Daniel Yan the co-founder of The Singaporean crypto Services firm Matrix Port he believes that a Correction is on our doorstep he wrote Euphoria the sentiment of the market has Come to a level where I think we should Be cautious I think we should see Another healthy roughly 15% correction By the end of April part of his Reasoning for this is that March is a Tricky one for macroeconomics in the United States you might remember from an Episode some months ago that Arthur Hayes the co-founder of bitmex said Something similar and that he won't be Buying more Bitcoin until March as for Yan's prediction of when this correction Might hit he wrote from where 65,000 or 60 ,000 or now I really don't know I Don't even know which comes sooner a new All-time high in BTC or the correction Again you don't have to bother too much On this if you are a long-term holder For those who attempted to trade the Short-term moves watch march now Parallel to bitcoin's excellent price

Performance you guessed it is the spot Bitcoin ETFs the Bloomberg ETF analyst James Safar posted data yesterday on the 10 ETFs and brace yourself for this one I'm just going to read his post on X the New record for Bitcoin ETF trading Volume is officially $7.69 billion the Previous record was $4.6 6 billion on The launch day you've got to see the Graph to really appreciate how enormous This Spike was as is to be expected Black Rock's ey shares Bitcoin trust Ibit took up the bulk of the volume with 43.5% seeing $ 3.35 billion in trading Volume which doubles its previous Daily Record grayscale had $1.86 billion in Trading volume Fidelity had $11.44 Billion in trading volume also doubling Its volume record and took only half of The trading day for the nine ETFs to Break the previous record the other ETF Analyst at Bloomberg Eric balinas wrote The total number of Trades was double Two over half a million individual Trades between them so there are some Fair warnings but everything right now Is Pumping right that's you caught up with Bitcoin let's step away from it for a Second yesterday prant jar published a Piece that had probably the best title And Lead image combination I've seen in Some time you'll have to click the link In the description to see the image but

The title was FTX founder SBF asks for a 6.5 year sentence tells prison guards to Invest in salana so I'm going to start With that funny part first s bankman Freed's escapades in prison have been as Amusing as they've been absurd the Former billionaire has been in trading Mackerel for haircuts which apparently Isn't that uncommon but I don't know What's more jarring mackerel as a prison Currency or the fact that s spf's Hairstyle is in some way intentional now The New York Times has reported that s SPF has been offering trading and Investment advice to the prison guards With a primary takeaway being B salana In the more substantial half of this Story a recent memo in the United States District court for the southern district Of New York requested the prison Sentence for SPF to be between 5 and a Quarter and 6 and 1/2 years now that is Around 5% of the maximum sentence he Could incur which stands at 110 years For two counts of wire fraud two counts Of wire fraud conspiracy one count of Securities fraud one count of Commodities fraud conspiracy and one Count of money laundering conspiracy the Pre-sentence investigation report has Recommended a 100-year sentence for the Former FTX CEO though spf's lawyers Called that sentence barbaric as he is a First-time offender has no criminal

Record and who was joined in conduct by And I quote at least four other culpable Individuals in a matter where victims Are poised to recover were always poised To recover 100 cents on the dollar Federal prosecutors are expected to Submit their sentencing recommendations On the 15th of March and judge Lewis Kaplan is scheduled to announce the Sentence on the 28th of March SBF and his prison guards aren't The only people feeling bullish on Salana of late in fact we have seen a Reasonable amount of evidence to support Even some of the more outlandish Predictions for its future yashu goola Yesterday covered the research of the Independent Market analyst Han solar who Has an incredibly bullish outlook for The token in essence Han solar believes That salana could replicate ethereum's Price trends from past bull markets Which was fierce for example in the 2020 2021 bull market ethereum's price went From $85 to $493 and solar believes this could Happen for sana's sole token as a Consequence of bitcoin's strong Performance he wrote previously eth took Off when BTC actually broke out into All-time highs it's then when retail Buys into Soul as the high beta catchup Play he added that currently soul is Around 50% from its all-time high

Similarly to how eth was around the 50% Mark as BTC was nearing all-time highs In the previous cycle now I think yashu Did a good job of coloring in this Stance with the the following that said Bitcoins run up to $150,000 a valuation predicted by fund Strats head of research Tom Lee on ETF Approval prospects could have salana Target $600 as its long-term upside Target that is nearly 450% above the Current sold price Yu's article then Goes into some technical analysis and Whether salon's fundamentals could Support these predictions and it's a bit Beyond the scope of this podcast so dive Down to the description and take a read If you're particularly financed Savvy But there are a few threads to the Supporting evidence of a salana ball run That I'd like to plant Flags into Firstly nfts on salana are performing Incredibly well especially considering The diminished hype around nfts in General at present in quarter 4 of 2023 Sana's average daily Dex volume Rose by A staggering 961 with a 359 per increase in Daily nft Volume what's more last Friday the 23rd Of February salana nfts hit $5 billion In alltime sales volume according to Data from Crypt slam now at the time of Recording this which is 7:14 a.m. Eastern this salana ball run is still in

Full swing as the sold token is up Nearly 30% on the week floating around $130 alongside the nft volume Spike this Price bump has been spurred on by the Dog with hat meme coin I've mentioned Once or twice before and you know how Much I hate saying that name though I Have no hate for the token and nor does Anyone holding it since it's launch on The 14th of December 2023 the whiff coin Has gained more than 50,000% and is now 80 so salana is still a long way off its All-time high from November 2021 which Was $259 62 but it is still unambiguously One of the best performers of 2024 and It isn't showing signs of slowing down In fact it looks as if it's picking up Pace I tell you what I'm I am not taking For granted the fact that Bitcoin is Performing so well the market is nice And green and the future looks bright Like many of you I've spent the crypto Winter trudging through the trenches With frostbite for many months so I'm Simply enjoying the Sun but that is it For today so consider yourself informed Thank you for listening to the ryzen Crypto podcast by coin Telegraph if You're enjoying these daily updates Please make sure you let us know by Following subscribing or leaving a Review we've had a decent number of

Reviews on Spotify but only two on Apple Podcasts if you are listening on Apple Please do me a favor and leave a rating It really does make a difference right Have a great day let's do this again [Music] Tomorrow