Up or down? Bitcoin analysts divided, Dogecoin surges, Tether hits $100B market cap

It might have seemed like a quiet Weekend but lots was happening under the Hood and now Monday is off to a flying Start 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 aams razor your way to the Front of the packing crypto click that Follow button okay grab yourself a Coffee and let's get into It there is a lot I need to cat you up On and every story today will have you Feeling bullish so it's kind of the Perfect episode for a Monday firstly We'll continue the new tradition of a Bitcoin update where we'll look at why Analysts and Traders are divided over What's going to happen with bitcoin's Price next the daily withdrawal record From exchanges being broken and why Michael sailor is saying Bitcoin is Entering its Gold Rush era then outside Of Bitcoin we will look at how VCS Appear to be returning to crypto Dogecoin is on a bull run of its own and The stablecoin tether reaches a $100 Billion market Cap well we open a new week exactly how We closed the last one Bitcoin chasing a New all-time high at the time of Recording this 7: a.m. eastern we have Breached the

$65,000 price tag with a 24-hour price Increase of 4% what's interesting though Is that readers Traders and analysts are Divided on what Bitcoin will do next the Popular Trader skew wrote on X interest Interesting timeline to read today 50% Calling for considerably higher 50% Calling for Market to rug typically this Occurs each week to be honest however This is noticeably more split than usual Skew added that current prices for large Caps likely around major psychological Inflection points reasons why this is Important is because on the next major Move in the market this imbalance leads To more momentum and a consensus likely Where the mean reversion trade actually Is roughly what skew is saying here is That whichever group is right those who Think the biggest cryptocurrencies are About to go up or those who say they're About to go down there will likely be a Loss of momentum in either direction Venture founder a contributor of crypto Quant believes we may see a heavy Correction as we near the $69,000 price Tag followed by the true Bull Run he Wrote Would you be ready for this BTC Rally to old alltime high to take out All the Bears then after harving has a Correction toward 50k or 40K Bitcoin to Take out all the Bulls it is really Difficult to gauge at the moment Particularly as much of the writing on

The topic was done over the weekend when Bitcoin's price stayed broadly within The parameters we saw last week now it's Monday morning and everything's moving Quickly however even when it had Stability under the hood there was Plenty going on yesterday William suberg Wrote some market analysis that adds Another thread to the chase for an All-time high the research and data Analyst at crypto slate James Van Stratton used some data from glass node To highlight a trend within Bitcoin Right now in short Bitcoin is flying off The exchanges van Straton wrote I don't Think I've quite seen anything like this Before all in all on the Friday just Over $2.3 billion worth of bitcoin left The exchanges one of the biggest Withdrawals in over 5 years the Exchanges hemorrhaging means the total Bitcoin balance across the major Exchanges is at the lowest levels since March 2018 back when Bitcoin was just $8,000 that said according to data from Glass node the exchanges still have 2.3 Million Bitcoin available between them As of Saturday worth 142.5 billion so It's not dry out there meanwhile the Bitcoin Market composition shows another New trend and it's in the form of Newbies crypto Dan another contributor To crypto Kuan wrote The Following new Investors are flowing in and in the near

Future we can expect the influx of many New individual investors added Eventually this ratio will continue to Decline sharply leading to the true bull Market we desire now you should know by Now I don't end any section or episode On a high note just for the sake of it But Michael sailor of micro strategy has Been outspoken on his bullish sentiment Once again and I wanted to include it Braden lind's article on this covers a Lot more than I will and it goes into What sailor thinks about the Relationship between Bitcoin and AI so Make sure you give it a read it's linked In the description however on a panel at The Bitcoin Atlantic his conference on The 1st of March sailor said the Following I think that we're in the Bitcoin Gold Rush era it started in January of 2024 and will run until about November 2034 justifying this sailor said how Resistance is being whittel away and That as Banks and institutional Wirehouses begin facilitating Bitcoin Trades the demand and the price will Rocket he added there will be a day Where Bitcoin blasts past gold and Trades more than the S&P index ETFs many will scoff at me for this but My favorite markers for the evolution of The crypto industry aren't inbound cash That said there is one form of inbound

Cash that I believe is a more stable and Reliable indicator that things are Picking up or performing well and that's Venture capital investment my Mastermind Specialty in crypto would be blockchain Gaming and over the past 6 years I've Watched VC investment closely you see The disparity between VC investment in Blockchain gaming projects during the Bull run and during the crypto winter Was colossal this of course wasn't just Seen in that one corner of web 3 but Across the board in crypto VC investment Has been something many track to Evaluate the interest in crypto and this Weekend Anna paa Pereira wrote a piece That suggests it's finally back on the Upswing it's a long and thorough piece That deserves a full read so check the Episode description for it but I want to Give you an overview as it's important According to a recent pitchbook report VC investments in crypto startups Increased for the first time since March 2022 2 quarter 4 of 2023 saw a 2.5% rise Over quarter 3 and reached $1.9 billion Invested it's quite possible that a Sizable portion of the motivation for VCS was the spot Bitcoin ETFs and the Anticipation of their approval but Whatever the case there has been a shift So let's do a quick rundown of some of The biggest recent Investments and Raises one of the most active VC's in

The space Andreas and Horowitz known as A16z announced the investment of $100 Million in a funding round for igen Lay Which is ethereum's largest reaking Protocol by total locked value then the VC firm hack VC raised $150 million to Invest in early stage crypto and AI Startups a veil a web3 data availability And consensus layer closed a $27 million Seed funding round LED by Founders fund And dragonfly Tao an ethereum layer 2 Scaling solution raised $15 million Ahead of its main net launch Al a Protocol for launching native and Restate rollups using optimistic and Zero knowledge Stacks raised $14.4 Million LED in part by hack VC and then There has of course been Myriad smaller Investments that are still in the Millions so the question is will quarter 1 of 2024 continue the upward trend of VC Investment Dogecoin the token You Couldn't possibly explain to your Grandmother had quite the week last week Seeing out Sunday with 7-Day gains of Over 7 7% if you're not a follower of Meme coins this might be baffling to you And if it is strap in because there are Suggestions that this 70% spike is only The start of the Dogecoin rally Dogecoin Has a lot of momentum right now and that Much is obvious at the time of recording This 7: a.m. eastern it has seen 24hour

Gains of 88.5% so the gains aren't really Subsiding the question is is it picking Up pace yashu goola wrote a piece Yesterday that suggests that this month Due to a mix of Technical and Fundamental indicators we might be Looking at further gains the market as a Whole may have bolstered Doge but one of The best signs for the token is that Dogecoin Wales are in the mood to buy More the number of addresses holding More than 100,000 Dogecoin has risen by 0.7% so far this year and the number of Addresses with over a million Doge has Also been climbing after a significant Drop at the end of 20123 there is then Of course the mcoin Mania we are seeing Across the board and it may be Correlated to the Bitcoin harving yashu Wrote interestingly this price rally is Akin to similar upside moves before Previous Bitcoin Haring events in May 2020 and July 2016 notably Doge price Surged 200% ahead of the first Bitcoin Haring and by approximately 50% ahead of The second as shown below to see that Graph click the link in the description And honestly dogecoins rally is Positively lackluster when contrasted to Some of the other meme tokens in the Last 30 days Pepe is up 500% Sheba enu Is up over 150% and bonk barely misses Out on 150% gains too so like them or Lo

Them they don't care the meme coins are Going on their own Bull Run and finally tether the largest Stable coin by market capitalization has Got even larger and hits a record1 100 Billion market cap this puts usdt at a 9% year-to-date growth and has only Widened the gap between it and its Closest rival usdc the Milestone was hit Overnight last night and this $100 Billion market cap puts it in the same Range as the likes of Shopify and BP you Might recall from an episode last month That in the fourth quarter of 2023 Tether posted a quarterly profit of $2.85 billion so at this point they are A Bonafide Financial Titan and as it Stands no stable coin can get near them Well that is the sort of episode I want To start every Monday morning with Everything is green and the industry is Fizzing with promise whether that Continues or we do see a correction it Feels as if this week is going to be Pivotal 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 and if you can Distinguish yourself from the bot spam I Get on X you're welcome to message me There too have a great day let's do this

Again tomorrow [Music] Right


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