Bitcoin price passes $10,000 mark
Bitcoin Hashrate is close to all time high
Paul Tudor Jones says YES to Bitcoin
Telegram pressured to refund investors
Japan tightens crypto regulations
The pre-halving run has come to fruition and BTCUSD is testing 5-digit territory. It’ll be hard to time the top as we’ve seen RSI hit higher than current levels. According to previous halving events (BCH, BSV), BTCUSD should correct post-event while it’s unclear where price and hashrate will settle. Regardless, with macro issues in our favor, it still feels BTCUSD is being set up to test another ATH by year end.
A surprise to many, hashrate continues to test all-time highs this week. This is a confidence boost to HODLers as it verifies a healthy mining ecosystem is still sustainable post-halving. The bear camp argues the source of this is from miners squeezing everything out of their equipment before an official shutdown.
TON, once a highly anticipated project, takes a big turn as regulators take GRAMs completely off the table. Contractually, Telegram is required to pay back 72% of funds to initial investors. But not all is lost as the OS is now open-source and independent developers are launching a free version of the blockchain.
We end the week with a nice vote of confidence from thought leader and hedge fund manager, Paul Tudor Jones. He shares his view that money managers should be paying attention to Bitcoin and its derivatives as a long-term hedge against government-printed currencies. Institutional flow is another one of those long-term catalysts that is dependent on regulation and infrastructure. CME open interest is a key figure to watch; it hit an all-time high this week.