🗞 Daily Crypto News, February, 22nd💰
Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!
🗞 Did $50K 'trigger' Peter Schiff to buy BTC? 5 Things to watch in Bitcoin this week
Bitcoin (BTC) hit a new high over the weekend in the latest episode of its spectacular 2021 bull run — what’s next for hodlers?
As the largest cryptocurrency approaches $60,000, Cointelegraph takes a look at the factors to consider when forecasting this week’s price action.
Investor eyes stock market "reset"
Equities showed no signs of flipping their endless upside on Monday, as buyers continued to pour in to the market.
Despite warnings that a bubble may already be about to burst, markets built on all-time highs as anticipation of an economic recovery worldwide stoked enthusiasm.
With no specific timeframe in mind, the risk was clearly being felt for this March to repeat last March, something which ultimately allowed both Bitcoin and Ether (ETH) to outperform.
Dollar strength doom
“The prospect now is that there will be no scarcity of dollars and in fact there will be an abundance as far as the eye can see.”
Inflows carry whale sell-off warning
As noted by on-chain monitoring resource CryptoQuant, institutional-focused Gemini saw giant aggregated inflows of 28,004 BTC ($1.63 billion), suggesting that a major investor plans to either sell or have funds ready for sale should prices drop.
“Be careful downside risk from whale dumping,” CryptoQuant added in comments to Telegram subscribers.
🗞 Bitcoin Breaks Records, Dumps Billions in Rollercoaster Weekend
- Bitcoin hit record highs, before losing $70 billion.
- Other projects faced similar highs and large losses.
- US Markets are awaiting earnings reports from Airbnb and a statement from the Fed on its support of the economy.
Another weekend, another wild ride for crypto. Bitcoin has had a tendency to move aggressively over weekends - in 2021 several records have been broken on Saturdays and Sundays. This weekend was no different.
On the back of a raft of new investors entering the space late last week, Bitcoin pushed beyond $55,000 and climbed all the way into the $58,000s.
🗞 Overleveraged Crypto Traders Lost USD 2B In One Hour, Binance Leads Again
Almost USD 4bn in trading positions has been liquidated in the past 24 hours as overly optimistic traders seem not willing to learn after they lost almost USD 2bn just a week ago. (Updated at 15:20 UTC: updated with the latest market data.)
Today, they lost USD 2.3bn (over 90% - long positions) in one hour alone, while USD 879m in bitcoin (BTC) positions has been liquidated, per bybt.com. Liquidations started earlier today as BTC price dropped, prompting liquidations and the further sell-off. It accelerated later, pushing the price of BTC below the USD 51,000 level, before it rebounded quickly to almost USD 54,000.
At the time of writing (15:08 UTC), BTC trades at USD 53,827 and is down by more than 6% in a day, trimming its weekly gains to 11%. BTC reached its new all-time high of USD 58,641 (per Coingecko.com) this past Sunday.
🗞 Bitcoin’s Rise Should Make Regulators Ask if the Fed’s Policies Have a Hand in It: WaPo
The U.S. Federal Reserve and regulators should examine the consequences of their fiscal and monetary policies, including the resulting shortage of suitable investments that has led some to put their money into “speculative” ventures such as bitcoin, the Washington Post said in an editorial Saturday.
- While dismissing the possibility of bitcoin (BTC, -7.1%) displacing the U.S. dollar's reserve status, at least for now, for policy makers, "the best reason to focus on bitcoin’s rise is what it tells us about the risks that may be bubbling up amid the Federal Reserve’s commitment to zero interest rates," the Post's editorial board said.
- While calling the Fed justified for trying to boost the pandemic-afflicted economy by encouraging investors to put their funds in job-creating activities instead of parking it in banks or government bonds, the lack of suitable investment opportunities has driven many to chase yield via "speculative vehicles - bitcoin very much included," the newspaper said.
- The Post quoted Tesla CEO Elon Musk's Tweet from Friday: “When fiat currency has negative real interest, only a fool wouldn’t look elsewhere.” Musk was talking about why his company had invested $1.5 billion of its treasury funds into bitcoin. (Notably, the Post didn't address the second half of Musk's Tweet. "Bitcoin is almost as BS as fiat money. The key word is "almost.")
🗞 Daily Crypto Calendar, February, 22nd💰
- DODO (DODO)
DODO v2 Beta will go live on BSC on February 22, 2021.
- Polkadot (DOT)
"Be inspired by Polkadot ambassador @MeckbachZoe and the Polkadot Decoded team on February 22nd. Join the AMA at 6pm CET..."
'#PolkadotDecoded 2021 is for the community, by the community. Hear more about the concept and how to submit a proposal from Polkadot..."
- BitTorrent (BTT)
"During Chinese New Year, #BTFS will be under maintenance to make network transmission more stable and better."
- Horizen (ZEN)
Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
- TosDis (DIS)
"Support for @BinanceChain #BSC is complete. It is now under testing and is going under Audit. Launch is set for February 22nd or Earlier"
- 🗞 Daily Crypto News & Video, February, 21st💰
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