Yesterday, it was said that there is a 70% chance that Bitcoin will break through $100,000 this time. As a result, the expectations of institutions are even higher. This morning, I saw more than one institution predicting that the price of Bitcoin will exceed $100,000 in this bull market. For example, the latest report from investment bank Benchmark priced BTC at $125,000 by the end of 2025, and also raised the target price of MicroStrategy stock from $860 to $990; Morgan Creek Capital also predicted that Bitcoin will break through $150,000 this time, and ETH will reach $15,000.
Currently, Bitcoin has shown a trend of breaking through, and it looks like it will go straight to 60,000 today, and it is definitely not the US trading time now. We all know that this wave of rise is definitely led by Wall Street. Last night, the net inflow of ETFs reached 570 million US dollars, of which BlackRock had 520 million. Grayscale's selling pressure also dropped to a historical low last night, with only 1,000 Bitcoins sold. This is the main driver of the rise, but now in Asian time, Bitcoin continues to break new highs, which means that the world has reached a consensus on the rise, and the bull market is unstoppable.
USDT's positive premium to the US dollar hit a new high. The current US dollar exchange rate is 7.2, and the over-the-counter price of USDT has exceeded 7.35. Coinbase released a report last night showing that USDC is also recovering and its usage rate has begun to rise. USDC represents the inflow of funds from European and American retail investors. In addition, we all know that USDC is strongly correlated with on-chain activity. It is the most widely used stablecoin on the chain, so the comeback of USDC can indicate that the spring of DeFi is coming again. In addition, Tether CEO Paolo Ardoino recently predicted that Bitcoin will be increasingly integrated into the traditional financial field, and interest in the world's first cryptocurrency is growing, including interest in hedge funds, pension funds and companies.
Last night, a major event that shocked the cryptocurrency circle and even the entire technology community occurred, namely, Apple terminated its ten-year electric car project Titan and turned to the field of generative AI. You should know that Apple has been working on this car project for ten years and invested billions of dollars. The loss of termination now must be huge, but even so, Apple resolutely ended the electric car plan, which further illustrates the importance of AI. As I mentioned in my article yesterday, for a long time in the future, more than 90% of the world's funds will be focused on AI. This time, Apple's heroic move further confirmed this point. Therefore, it is undoubtedly a very correct investment concept to invest heavily in AI. As one of the few ordinary people in the world who can participate in AI investment in advance, we must seize this opportunity and lay out at least two or more leading projects and two or more new AI projects. Don't make a joke like speculating in cryptocurrencies but not having Bitcoin in your hands.
Back to the market, Bitcoin is now indifferent to everyone, setting new highs every hour. The exchange rate of ETH to BTC is constantly falling. Although ETH is also rising, the driving force is still Bitcoin. Of course, the explosive power of the ETH bull market is stronger, and the probability of a rebound in the exchange rate is quite high. The macro-institution Realvision expects ETH/BTC to break through the weekly level soon, and the founder of Glassnode is also optimistic about the future of ETH. The altcoin market has not yet shown obvious bloodsucking. Although the increase cannot keep up with Bitcoin, the trend is still stable. The short-term risk is that Bitcoin suddenly pulls back. At this time, there is a high probability that there will be a bloodsucking market, so it is not recommended to sell BTC to replenish any altcoin, including ETH.
The ones that have suffered the worst pullback in the past two days are basically those that have risen too much in the past period of time. For example, wld fell below 8 again today. dym tia hnt is a normal pullback after the over-rise. strk's trend is relatively lame. It finally rose yesterday, but it couldn't hold on to 2 knives and fell back immediately, and the decline was not small. The altcoins that performed well today all have obvious benefits. For example, ar released the ultra-flat computer AO, which is considered a storage and computing platform. Its features are strong scalability, multi-threading, and support for smart contracts. This accumulation will inevitably awaken everyone's dead memory "Ethereum killer". In this way, AR has gathered the three major features of depin storage and public chain, so the single-day increase is close to doubling. There are also several other favorable ones. Floki was targeted by dwf, gala launched galaswap, xtz launched tzBTC 2.0, aero received investment from base ecological fund, axl helped xrp to tokenize rwa. These tokens have seen different degrees of pull-ups. The trends of other altcoins without favorable ones are average.
The upgrade time of Ethereum Dencun has finally been confirmed, which is 21:55 on March 13. This wave is the main network upgrade, not the various test network scams before. This wave of upgrades should be the most important one since the last merger, including the legendary eip4844, protodanksharding, this upgrade can reduce L2 transaction fees. Today, polgon federation also mentioned that the upgrade will increase ETH's data capacity and data availability. You must know that data availability DA alone has already appeared in a separate track, so this upgrade is a major benefit for ETH, and hype will definitely come.
Market Summary
Under the premise of Bitcoin stabilization, the copycats are even crazier. In the past two days, the gamefi track and the meme sector have seen a lot of gains. In the current market, although Bitcoin has not been halved, it is already a bull market. STX has broken the new high of the previous bull market. Although STX has not been upgraded, it does not prevent capital from speculating in advance. This is the current market sentiment, the kind of FOMO that cannot be suppressed. After a short-term adjustment, Bitcoin will really start to pull up in March, and then the Bitcoin-related ecosystem will also experience an explosive rise.
The exchange rate of ETH to Bitcoin is still falling, and it has fallen to 0.056. However, the time for the dencun upgrade was confirmed today, which is March 13. I mentioned in my previous article that this upgrade is very important, and its success will definitely be a big boon. Even whether ETH can become the king of copycats again depends on this upgrade, so hype will definitely come. At this time, everyone must hold on to the ETH in their hands and never be cheated by local dogs. If you want to pledge, you must also find a reliable agreement.
Finally, there are still many things that are not written down, such as specific opportunities and specific decisions. These things are often not something that can be summarized in one article.
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