The crypto landscape is witnessing seismic shifts, with Bitcoin soaring by a staggering 162% since 2020, outpacing the S&P500's 25% growth. As Bitcoin's dominance touches 54%, we're just 6% shy of potentially triggering an altcoin season. Historically, Bitcoin has always been the torchbearer, leading the rally, and this time seems no different.
In This Episode:
- BTC Up 162% Since 2020, S&P500 Up 25%
- BTC Dominance hits 54%... 6% away from altcoin season?
- The BTC Dominance Trade - Bitcoin Always Leads the Rally
- CNBC Starting to Cover Bitcoin Again
- Pomp on CNBC: Bitcoiners and Wall St. Are Working Together to Pump the Market As a New Asset Class Emerges to Mainstream
- Estimates Put Potential Inflows from Bitcoin Spot ETF Around $600B - Why That Might Not Be Accurate
- FTX Reclaims Approximately $7B in Assets and Seeks the Possibility of Re-Opening the Exchange Under New Management
- Can't Be a Bull Market Without CEX Infrastructure Outages - Binance Comes Back Online After Exchange Outage and $100B Trading Volume on Tuesday, Highest Since FTX Crash in Nov 2022
Mainstream media, with CNBC at the forefront, is once again turning its spotlight on Bitcoin, signaling its growing influence in the financial world. Anthony "Pomp" Pompliano's recent appearance on CNBC shed light on an intriguing collaboration - Bitcoin enthusiasts and Wall Street giants joining forces to pump the market, heralding the rise of a new mainstream asset class.
While the buzz around the potential inflows from the Bitcoin Spot ETF is estimated at a whopping $600B, there's a debate on the accuracy of this figure. In the midst of this bullish momentum, FTX is making headlines by reclaiming around $7B in assets and exploring the possibility of a relaunch under new leadership.
However, it's not all smooth sailing. The crypto world faced a hiccup with Binance experiencing an outage, especially significant given their record-breaking $100B trading volume on Tuesday, the highest since the FTX crash in November 2022.
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