Bitcoin has been fluctuating for several days. Zack Wainwright, an analyst at Fidelity Digital Assets, pointed out that although Bitcoin is still in the acceleration phase, the cycle is nearing its end. He predicts that if this cycle will reach a new high, it may start from the base price of around $110,000. Arthur Hayes is more optimistic and believes that if the Fed’s policy shifts from quantitative tightening to quantitative easing of Treasury bonds, Bitcoin is expected to bottom out from the $76,500 it hit last month, then rise to $110,000 first, and then gradually climb to the target price of $250,000 by the end of the year.
Institutional investment attitudes are also divided. Despite the many uncertainties in the market, Strategy, Metaplanet, MARA and other institutions are still continuing to increase their holdings of Bitcoin, and GameStop plans to issue $1.5 billion in convertible bonds to purchase Bitcoin. However, BlackRock CEO Larry Fink is cautious about Bitcoin, warning that it may damage the international status of the US dollar, but at the same time he also recognizes the advantages of tokenization. In terms of supervision, the three major EU regulatory agencies, ESMA, and others recently issued a joint report, pointing out that the United States’ increasingly friendly crypto policies are deepening the linkage between crypto assets and traditional financial markets, which may increase systemic risks.
ETF flows (as of April 1 EST)
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Bitcoin ETF: -$157 million
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Ethereum ETF: -$3.58 million
Today’s Outlook
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Ethena (ENA) unlocked 95.31 million tokens, worth about $33.5 million
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Jupiter (JUP) unlocked 53.47 million tokens, worth about $25.4 million
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Trump to announce reciprocal and industry-specific tariffs at 4 a.m. on April 3