New Bitcoin all-time high, Cathie Wood predicts $1M BTC price, Ethereum smashes $4K

Bitcoin is setting new all-time highs as I speak after a massive weekend so let's Go over everything you need to Know good morning you're listening to The ryzen crypto podcast by coin Telegraph with me Robert bags stiring You through the crypto Cosmos with daily Dispatches from the digital Frontier It's very difficult to stay ahead of the Game in a bull run so click that follow Button and I'll keep you informed okay Grab yourself a coffee and let's get Into It well I was going to start this Episode with how big a weekend that was But now it seems like it might have just Been an entree for what we're going to See today nevertheless there were a lot Of stories this weekend that you need to Be aware of and so here's what we're Going to cover in today's episode Firstly I'm going to give you a Comprehensive rundown of Bitcoin this Weekend but we're going to start with Bitcoin breaking new all-time highs as Well as William seberg's five things to Know in Bitcoin this week we'll look at Why the Wales are not selling above $770,000 Arch invest CEO Kathy Wood sets An enormous price target for BTC as well As several other Bitcoin related stories Then we'll look at total locked value in Def5 breaching a100 billion and finally Ethereum moving north of $4,000 for the

First time since 2021 there is so much to go over from This weekend with Bitcoin but let's Start with the price Bitcoin recorded Its highest ever weekly close of $ 68,9 yesterday Sunday the 10th of March However as we ticked over into Monday Things have just started heating up in Fact the price is moving so quickly that Saying what it is as I record this is Going to be a bit redundant but for the Record at 6:26 a.m. eastern the price is Just shy of $72,000 that means that in the hours Leading up to this we have been setting New all-time highs and are in price Discovery what an incredible way to Start the week not to mention that this Means BTC is nearly up 50% in 30 days But enough about the current price let's Look at this weekend now before I get Into a recap of it I do want to cover a Few points from William seberg's five Things to know in Bitcoin this week for All five things to know and some Analysis around them I suggest you click The link to the article in the Description but here are my two picks so Firstly this is going to be another big Week for us macroeconomics as we get the Latest Consumer Price Index typically This is heavily influential on risk Assets like Bitcoin a positive outcome Could add more fuel to the fire for

Bitcoin's Price gains but a negative Outcome is arguably more interesting With bitcoin's current upward momentum Will it even have an impact the second Point William raises is how the miners Are reacting to these preh harving highs Which is something we've never seen Before so as a result miners revenues Have gone up and the miners have reacted By upping their selling presumably to Line their coffers before the rewards Dro to 3.25 BTC it makes a lot of sense And it doesn't seem to be affecting the Price right now let's have a proper look At this weekend zultan vard wrote one of The most popular pieces this weekend and It was about Bitcoin whale Behavior it Is always worth watching what the whales Are up to as it is impactful the article Zan wrote was called Bitcoin Wales are Not selling despite $70,000 BTC Holdings Growth is going parabolic as always I've Linked to it in the description it's Worth a full read so the first takeaway Is that the number of unique addresses Hold in at least 1,000 Bitcoin I.E Wales Is On The Rise Again up to 2,14 at the tail end of last week some Of this increase will obviously be Traced back to the spot Bitcoin ETFs That now hold over 4% of bitcoin's Supply however it's still someway off The Record which was 2,489 addresses back in February 2021

When Bitcoin was around $46,000 let me know if I'm completely Alone here but only 2,14 wallets with 1 ,000 or more Bitcoin feels so much lower Than I would have guessed anyway what's Extra interesting about what the whales Are up to is that they are seemingly not Selling Julio Moreno the head of Research at the onchain intelligence Firm crypto Quant posted on X the growth Of Wales Bitcoin Holdings is going Parabolic what Moreno is saying and I'll Link to the post on X because it has a Chart that perfectly illustrates this Point is that not only are the Bitcoin Whales not selling they're currently in A buying Frenzy furthermore according to Data from glass node the whales are Withdrawing their BTC from exchanges at Record rates now the removal of tokens From an exchange is something we Discussed last week with Nancy lal's Prophetic article that gave three Reasons why ethereum will hit $4,000 Soon and yes obviously we're going to Come back to that later in this episode But whether it's ethereum or Bitcoin Being taken off exchanges generally Speaking it means the same thing that The holders of the tokens want to put Them on Hardware wallets because they Aren't looking to sell them to take Profits or to get out the investment Kathy Wood the CEO of Arc invest had an

Interview with the New Zealand Herald And laid out her new expectations for Institutional involvement in bitcoin's Price growth and set an ey waltering new Target Arch invest originally put a Price target for Bitcoin at $1 million By 2030 but in this interview she said That Target it was before the SEC gave Us the green light and I think that was A major milestone and it has pulled Forward the timeline would added that no Major wirehouse such as Morgan Stanley Or Merill Lynch has joined the Institutional push yet saying no Platform has approved Bitcoin yet so all Of this price action has happened before They approve it and so we haven't even Begun adding that our Target is above That it's well above that and with our New expectations for institutional Involvement the incremental price that We assume for institutions actually has More than doubled so w decline to give An exact figure but when she says well Above she's talking about $1 million I Still find it so jarring to hear Extremely well-respected and experienced Finance folk say things like this when I Joined the space the people claiming Bitcoin was going to a million dollars Were mostly Maniacs even though I've Always wholeheartedly believed in Bitcoin $1 million just seems so Outlandish so if we do hit that price

All of those Maniacs are going to be Convinced they can see the Matrix maybe They can a small update but as I discuss Both parties weekly a worthy one Black Rock Spot Bitcoin ETF has just overtaken Micro strategy in BTC Holdings micro Strategy is still the largest publicly Traded holder of Bitcoin but that Statement has a sort of asteris now Micro strategy has 193,000 Bitcoin though they are Currently raising money to buy more However according to data compiled by Bitmax research black Rock's I shares Bitcoin trust now holds 17,94wh makes this so impressive or Terrifying depending on your perspective Is that this has been ACR in under 40 Trading sessions since the sec's Approval of the spot Bitcoin ETFs on the 10th of January that really is wild Anyway that is you caught up on Everything that happened in Bitcoin this Weekend and in the early hours of the Morning but there's no chance today is Going to be a quiet one so we'll be Doing this again tomorrow Morning on Saturday another Milestone Was hit in crypto as a consequence of Bitcoin's Stellar performance the global Total locked value tlv in decentralized Finance protocols defi has breached $100 Billion don't worry if you didn't Understand a word I just said it's

Nowhere near as complicated as it sounds So according to data from defi llama the Tlv reached $1.1 billion on Saturday After climbing $10 billion in 24 hours Leading up to it so why are people Locking up their crypto it is typically Staked in a defi protocol like Lio or RVE and users who stake their tokens Will earn interest and or other staking Rewards it's basically a way of Passively earning from your crypto Although $100 billion locked up is an Enormous figure it's actually dwarfed by The standing record which was $189 Billion in November 2021 which was of Course the top of the last ball market So we may see this $100 billion go up Significantly over the coming months of That $100 billion The Lion Share is Currently in the liquid staking protocol Lio with $ 38.7 billion locked on chain And then igen lay and RV have over1 Billion each total locks value is really One of the many indicators we have of How crypto is doing as a whole make no Mistake right now this is spearheaded by Bitcoin but if we find ourselves in an ALT season someday soon tlv will Continue to grow so when tlv is high it Suggests the sector is doing well and Perhaps obviously or perhaps not it Shows that holders aren't looking to to Sell their crypto and are happy to lock Them up for

Returns well what did Nancy luar tell us In an article last week ethereum is Primed to hit that $4,000 Milestone and Over the weekend it did just that in Fact as I record this it is still over The $4,000 threshold according to data From coin market cap ethereum climbed 74% year-to date to hit a 21mon high of $43 its highest price since December 2021 and at just before 7:00 a.m. Eastern the price is $452 ethereum's price certainly has ties To bitcoin's Performance which has of Course been superb nevertheless this new Milestone shouldn't be choked up to just Riding Bitcoin slipstream there are two Key narratives that have certainly Bolstered interest in ethereum the first Is the upcoming Denon upgrade and the Second is the potential spot ether ETF As Nancy herself explains the Denon Upgrade the most significant Improvement To the ethereum network since the merge Aims to implement a number of ethereum Improvement proposals eips including EIP 4844 which introduces Proto sharding I Don't know if I'm ever going to get used To that term but in short the bizarrely Named Proto Dan sharding is a way of Simplifying the transaction process as For the spot ether ETF that's less of a Straight path Regulators delayed a Decision on the spot ether ETF Applications last week but this was very

Much expected and didn't really dampen Optimism you may remember that James Safar the ETF Analyst at Bloomberg Posted on X in February that delays Would come and the only date that really Matters is the 23rd of May which is the First final deadline date for the Applicants van e and Arc 21 shares However although the delays didn't Dampen Spirits Ellena terret of Fox Business posted on X yesterday the Optimism about the SEC approving The Ether spot ETFs by May the 23rd is Waning She Wrote based on my Conversations with people familiar Meetings in recent weeks have been very Much one-sided with issuers and Custodians trying to Rally staff to get The process rolling but staff not really Engaging in meaningful ways like they Did with the Bitcoin spot ETF Applications terret added one source Tells me staff has been very hard to Gauge on this and we're not sure if Anyone really knows what's going on in Their heads but they're going to have to Start work soon and it's going to have To have a shot for now though the next Big milestone ethereum will be looking To capture is a new all-time high which Coin gecko has at $4,875 26 Cents which happened back on The 10th of November 2021 it does still Feel a long way away but at the time of

Recording we're only 177% below it and To put that in perspective according to Coin telegraph's Market data ethereum is Up over 60% in the last month so you Wouldn't rule it out in the next few Weeks what a weekend that was and what a To day this is shaping up to be but that Is it for today so consider yourself Informed thank you for listening to the Ryen 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 you can of course also ping us on X on @ cointelegraph and Arc bags have a Great day let's do this again [Music] Tomorrow [Music]