We are marching ahead with your financial goals this March, with exciting updates on the horizon. Here’s a quick recap of last week’s opportunities.
What a time for Bitcoin! In just 72 hours starting Monday the 26th, Bitcoin climbed all the way to $64,000 before slightly retracing, adding $230 billion to its market cap in the process. A week later, on March 4, Bitcoin made its first attempt at breaking an all-time high, only to get soundly rejected at $69,000. Finally, HODLers are cheering as Bitcoin convincingly sits above it’s previous all-time high, while those sidelined are asking, belatedly, whether now is the time to enter the market.
So what happened to Bitcoin and where do we go from here?
For starters, the first leg of this bull run has been driven largely by institutional players. The approval of a Bitcoin ETF has led to insatiable demand from Blackrock, Fidelity and others. As we can see from the numbers, ETF issuers brought 5x the total amount of Bitcoin produced over the last week.
Clearly, the institutional-driven pump in Bitcoin’s price has led to elevated levels of greed and risk-taking in the market. Over $10bn worth of futures positions have been opened over the last two weeks, sending the total open interest above $32bn.
The Fear and Greed Index, another benchmark of investor sentiment, smashed through its previous resistance to reach the 80s for the first time since September 2021.
Although such extreme levels of greed usually signal a pending correction, Bitcoin has an important positive catalyst slowly arriving on the scene – retail investors. Google searches for Bitcoin, although nowhere near previous bull market highs, more than doubled last week compared to the week before.
In conclusion, although Bitcoin’s impressive spike last week brought a wave of greed and risk-taking into the market, a large chunk of retail investors are yet to take an interest in Bitcoin and crypto once again. This rally has been driven largely by institutional buying, which isn’t slowing down any time soon.
We recently hosted a LinkedIn Audio event centering on the vital aspect of every investment: attracting investors. Featuring valuable insights from industry leaders Soumen Datta, Aram Mughalyan, and host David Azaraf. They explored strategies for transforming investment aspirations into reality, sparking desire, crafting compelling content, rallying support, and empowering followers to become passionate advocates.
Last week, we connected with industry influencers across various X-spaces, including Crypto Talkz and Wolf Finance. During our session on Wolf Finance, HAG, an INX.One issuer, made a thrilling announcement that stirred excitement among HAG Token investors!
Stay tuned on our social channels for the details!
This month, we salute women all over the world! Join INX this Women’s History Month as we empower women worldwide for financial freedom. Complete your registration on INX.One and get $100 cashback in cryptocurrency straight to your wallet. Claim yours now and start your journey toward financial empowerment.
Don’t forget to review the list of primary and secondary security tokens offered on our platform, each representing a different industry and a unique opportunity.
Last week commenced with the first CBDC forum held at INX’s offices. Collaborating with financial leaders and institutions, we delved into the next generation of finance, specifically Nabatech, our rapidly developing joint venture with SICPA, a modular CBDC solution set to redefine retail and wholesale CBDC worldwide.
Your Tweet of the Week offered a quick way to learn about the benefits behind this week’s secondary market launch of the HAG token that provides monthly wBTC (Wrapped Bitcoin) dividend payments. The tweet provides a brief overview of what Wrapped Bitcoin is.
INX Academy offers multiple articles and guides to help you better understand this evolving market and the wealth of opportunities it has to offer.
Read the newly added guides on the Academy:
INXers, our global INX community on Telegram, engage in lively discussions, recognize trends, share news, and debate critical issues. Each week, we gain insights into their perspectives and preferences through a weekly poll.
Poll of the Week:
What’s your opinion on Cryptocurrency Airdrops?
INXers say:
The vote is still ongoing.
Join our community on Telegram to cast your vote.
We have a busy week ahead.
Stay tuned for more updates!
The INX Digital Company inc. is an expert in the field of finance, crypto and digital securities.
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