Bitcoin's price has dropped nearly 3% in the last 24 hours following news that inflation in February was higher than expected. The producer price index rose 0.6% last month, indicating that inflation is not going away anytime soon. As a result, stocks, particularly tech stocks, have also dropped. Investors are hoping that the Federal Reserve will cut interest rates by May, which could cause Bitcoin's price to continue to surge.

According to SoSo Value data, on March 13th, the Bitcoin futures open interest reached a new all-time high. As of the time of writing, the Bitcoin futures open interest has reached $33.94 billion, surpassing the second-highest point in November 2021 of $23.04 billion. At the same time, the Bitcoin funding rates on mainstream exchanges including Binance and OKX have also reached a new high not seen since the beginning of 2023.

According to OKX market information, Bitcoin briefly fell below $71,000 and is currently priced at $71,468, with a 24-hour decline of 1.29%.

Bitcoin has broken to its fourth cycle all-time-high, rallying above $72k, and pushing sentiment one step closer to Euphoria. The classic wealth transfer from the HODLer cohort to speculators is now well underway, with significant upticks in spot profit taking, and demand for futures leverage.

According to Coinbase data on March 12th, Bitcoin broke through $73,000 and is now priced at $73,027, continuing to reach new historical highs.

Bloomberg reported that Erik Thedeen, Governor of the Swedish Central Bank, said: "I hope to see as little Bitcoin as possible in the Swedish financial system. It is an unvaluable tool and is actually based on pure speculation. Although Bitcoin does not pose a threat to financial stability, it is still a risk to consumers."

In the ever-evolving landscape of blockchain and cryptocurrency, ZKBase has taken a significant leap forward with the introduction of ZKSwap(Bitcoin) V0.1 Testnet on March 11, 2024.

Deribit's Asia-Pacific business director, Lin Chen, posted on X platform today that the largest BTC option bulk is a bull market price difference. A large account paid $3.618 million to buy 525 BTC call options with a strike price of $70,000 expiring at the end of April, while selling $90,000 call options. This means that they speculate that BTC can soar to nearly $90,000 before the end of April.

Trade Strategy: Call Ladder View: Moderately Bullish View on BTC

The market shows BTC has broken through $72,500 and is currently trading at $72,504.8, with a daily increase of 4.73%. The market is volatile, so please be prepared for risk control.

The nominal open interest of CME Bitcoin futures has exceeded 10 billion US dollars for the first time, which is twice the peak value of 5.2 billion US dollars during the bull market period in 2021, and also exceeds the market value of several top 25 cryptocurrencies such as Litecoin and Bitcoin Cash.

Former US President Donald Trump said in an interview with CNBC that "Bitcoin has been widely used, and I am not sure whether to ban it. I will not allow other countries to get rid of the US dollar."

On March 11th, the news "Bitcoin breaks through $71,000" landed on the Weibo hot search list, ranking 33rd temporarily.

According to Coindesk, Bitcoin rose on Monday as rumors of the Bank of Japan potentially loosening its policies regarding ultra-low interest rates shook the Asian market. Some Asian stock indices fell, with the Nikkei and ASX indices in Japan and Australia respectively dropping by 2%. Earlier reports suggested that the Bank of Japan may raise its benchmark interest rate this month, which would be the first time since 2007. In addition, the Bank of Japan may abandon its bond-buying program after ending its negative interest rate policy. Analysts have long warned that the Bank of Japan is a major source of uncertainty for both traditional and cryptocurrency markets. The potential lifting of the Bank of Japan's support for a liquidity stance and resulting strengthening of the yen could jeopardize yen carry trades, which could strengthen the risk appetite rebound of financial markets, including tech stocks and cryptocurrencies, that has lasted for a year.

1.Kevin Rose is suspected of selling off his NFT holdings and has destroyed ENS domain names such as krovault.eth2.Coinbase provides five-point spot Ethereum ETF application reason to the US SEC: shares that can be classified as commodity-based trusts3.Concept coins in the gaming sector generally rose, with PIXEL rising over 40% in 24 hours4.Tokens in the AI ​​sector generally rose, with WLD, ARKM, RNDR and FET all hitting record highs5.Tether Treasury minted 2 billion USDT through 2 transactions about four hours ago6.Hedge fund tycoon Ackman says he’s considering buying Bitcoin7.Meta announces updates to WhatsApp and Messenger that will take a privacy-centric approach to building interoperable messaging services8.Jupiter: Over 200 million JUPs have been pledged, and pledgers need to actively vote to receive rewards.9.Ceres Entertainment Station: Two rounds of Ceres ARK NFT Mint have ended, and all 3333 NFTs on sale have been sold out10.Over 53 million USDC were minted in the USDC Treasury

ChainCatcher News: Bill Ackman, the founder and CEO of Pershing Square Capital Management, a major hedge fund, predicts that the price of Bitcoin may skyrocket to levels much higher than anyone can imagine.Ackman tweeted, "Imagine a scenario where the price of Bitcoin rises, causing an increase in mining volume and energy usage, which in turn drives up energy costs, leads to inflation, devalues the US dollar, and drives demand for Bitcoin, increases mining volume, and drives demand for energy, and so on. Bitcoin grows infinitely, energy prices soar, and the economy collapses. Maybe I should buy some Bitcoin." However, Ackman later added, "Of course, the problem is that it can also backfire."In response, Michael Saylor, the founder of MicroStrategy, commented on Ackman's tweet, "You should buy some Bitcoin, but not for the reasons mentioned above. Most Bitcoin miners are lowering the electricity costs of other consumers, not increasing them."

The market shows that BTC has broken through $69,000 and is currently trading at $69,008.9, with a daily increase of 1.49%. The market is volatile, so please be prepared for risk control.

The Economist magazine in the UK wrote an article titled "What Will Happen After Bitcoin Soars", pointing out that Bitcoin is not rising in isolation: every asset is rising, stock markets around the world are approaching record highs, and so is the price of gold. Bitcoin's performance is better than most assets. The US Securities and Exchange Commission's approval of the establishment of a Bitcoin exchange-traded fund (ETF) makes it easier for ordinary investors to buy this encrypted currency. Bitcoin has existed for 14 years, and its concise mechanism for self-certification and verification of supply growth has never been compromised by hackers, meaning that this token will not disappear. With the establishment of ETFs, it is now obvious that Bitcoin has become an investment asset. The establishment of Bitcoin ETFs may have triggered a crazy and amazing surge, but the future price trend it predicts may be more slow and stable.

According to BitMEX Research data on March 8th, Bitcoin ETF saw a net inflow of $223 million, and the ETF assets, excluding GBTC, have now exceeded $28 billion, surpassing GBTC's assets for the first time.

Anthony Pompliano, the founder of Pomp Investments, made an optimistic prediction about Bitcoin in an interview with CNBC, suggesting that the price of Bitcoin could soon rise to $138,000. He pointed out that historically, the value of Bitcoin has doubled in 18 days or less after surpassing three-quarters of its previous peak price.