💰 Long-Term Bitcoin Holders Begin ‘Taking Chips Off the Table’ at Record Highs, Analysis ShowsGlassnode’s 13th weekly 2024 onchain analysis indicates a strategic shift among bitcoin investors as the digital asset reached a new peak, with long-term holders beginning to realize profits. The report shows a significant $2.6 billion per day in realized profits, highlighting a common response to reaching resistance levels at new ATHs. This trend aligns with historical patterns observed in previous cycles, where similar behaviors were noted among the investor cohort.

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🪙 TRON Foundation, Justin Sun Ask U.S. Court to Dismiss SEC LawsuitThe TRON Foundation and Tron founder Justin Sun asked a New York court to dismiss a lawsuit from the U.S. Securities and Exchange Commission (SEC), saying the regulator failed to establish that the court has jurisdiction over the foreign defendants, a March 28 filing shows. "Its efforts to leverage highly attenuated contacts to the United States, to extend U.S. securities laws to cover predominantly foreign conduct, go too far and should be rejected.".

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🟠 Binance taps board of directors for the first time: Bloomberg News

Binance Holdings Ltd. has named a board of directors for the first time, according to Bloomberg News, after a year marked by change and turmoil. The board is made up of seven members, including CEO Richard Teng and three other company executives — Heina Chen, Jinkai He, and Lilai Wang.

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@CryptoWorldNews

🪙 Tether CEO bashes JPMorgan’s ‘hypocrisy’ amid stablecoin dominance concernsTether CEO Paolo Ardoino slammed Wall Street giant JPMorgan’s “hypocrisy” to raise concerns about the stablecoin issuer’s dominant position in the cryptocurrency market while being the “biggest bank in the world.” In a Feb. 2 statement sent to CryptoSlate, Ardoino stated that Tether’s market dominance has proven crucial for the emerging industry despite the negative perceptions that its competitors and banks have about it.

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🏦 Coinbase analysts see downside pressures on bitcoin's price becoming 'exhausted'Downside pressures on bitcoin and the broader cryptocurrency market are starting to become exhausted, which could lead to a more supportive trading environment, according to Coinbase analysts. Coinbase's Weekly Market report, released on Friday, described how certain technical factors that had been exerting downside pressure on bitcoin specifically and the broader crypto market are beginning to wane.

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💰 Bitcoin mining difficulty to see largest increase in a yearBitcoin’s difficulty adjustment is poised for another significant shift with an upcoming 7% adjustment, according to Newhedge. This marks the largest difficulty increase in almost a year since March 2023. The evolution of Bitcoin’s mining difficulty is a significant indicator of the network’s health and security. The previous difficulty adjustment registered a decrease of -3.9%, marking the most substantial downward adjustment since December 2022.

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💰 Whales and institutions lead the charge in Bitcoin’s exchange volume surge

Bitcoin's price movements often stir the market, but what happened when it briefly dipped below $40,000 and then climbed back to $42,000 was somewhat unprecedented. Most would anticipate a surge in retail trading; however, the reality of the situation, as revealed by Glassnode's data, was more nuanced.

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💰 Bitcoin’s Hashrate Hits 7-Day Record High, Surging to 566 EH/s Amid Anticipation of Upcoming Difficulty AdjustmentBitcoin’s computing power has soared to unprecedented levels, with the seven-day simple moving average (SMA) peaking at 566 exahash per second (EH/s) as of Jan. 30, 2024. Despite experiencing a slight decline in mid-January, the network’s hashrate is on an upward trajectory, in anticipation of the expected difficulty adjustment set for Feb. 2, 2024.

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💰 Cboe Exchange Withdraws Its Global X Bitcoin ETF ApplicationCboe BZX Exchange has decided to withdraw its application for a proposed rule change with the United States Securities and Exchange Commission (SEC), a move that could have paved the exchange’s way for listing shares of Global X’s spot Bitcoin Exchange-Traded Fund (ETF). The SEC, in a notice on January 30, officially announced the withdrawal of Cboe BZX’s application for trading shares of the Global X Bitcoin Trust.

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