Weekly Pill — Volume 016
TL;DR
- ETH ↑31% to $3.8k and BTC ↑14% to $70.7k!
- ETHBTC ↑15.2% at 0.054
- ETH ETF Approval and BTC ETF Flows
ETH/BTC Market Snapshot
We are back as ETH and BTC pump on the possibility of an ETH ETF approval. ETH up a whopping 31% to $3.8k and BTC up 14.6% to $70.7k. ETHBTC also surged as a result of the ETH strength, ↑15.2% to 0.054
Dose of ETH
All eyes are on the imminent approval of the ETH ETF.
With approval incoming, our ETH ETF impact piece on $ETH and $ETHBTC is more relevant than ever.
A recovery in ETHBTC to 0.075 where it was at the start of 2023 would now mean $5.3k ETH, a new ATH 🚀
Dose of BTC
Arthur Hayes’s essay on the implications of the weakness of the Japanese Yen from a macro perspective and how Bitcoin would benefit from the most likely result of increased money printing by the US. Slowly but surely the institutions are coming.
Institutions are still accumulating crypto.
BTC ETF inflows have been strong for 6 days, with the last four days seeing over $200M each day. ETH will soon be available too.
Security Spotlight
Security doesn’t stop at launch. Badger is running a post-launch bug bounty with Immunefi for up to $100k.
