Bitcoin Rallies Again: The Secrets Behind the Crypto Surge

Web3 Wednesday (#5)

Welcome back, Degenerates!

You might have noticed a buzz around the recent surge in Bitcoin prices. Momentum is strong, but let’s not get ahead of ourselves 😂. Also, I don’t think we’ll stop hearing of lawsuits in Web3 anytime soon. 2023 will be a long year.

Summary of this week’s digest:

• 📈 Find out why bitcoin is rallying again
• ✂️ Over 2,900 employees were cut across 14 crypto firms
• ✋ Meet the Fiverr of Web3
• 👔 The momentous trial that could change the future of NFTs
• Funding Rounds: Bunzz ($4.5m), Everscale ($5m), Emperia ($10m), VitaDao ($4.1m)

Bitcoin Recovery in Full Swing

• After a year of rough performance, Bitcoin (BTC) is showing positive signs of recovery based on its on-chain and futures market data.
• This week’s rally in digital assets saw Bitcoin prices reach a high of $23.9k — its most robust monthly price performance since October 2021, fueled by spot demand and a series of short squeezes. (+43% YTD)
• These short squeezes resulted in automatic purchases of Bitcoin, driving up its…