Your daily Bitcoin Update Bitcoin surges to 50,000 for the first time since 2021 on ETF Demand Now just for the point of posterity I Want you to know as I'm filming this: Bitcoin Trading just above 49,000 which puts its market cap at 967 billion, but things are looking pretty pretty good Bitcoin Hovered around 50,000 after scaling the closely watched level for the first time in over two years. a remarkable comeback from the crypto scandals and wipe out that had cast a doubt on the industry's viability. So a couple things: I Believe that there's four major reasons why crypto is running like no other, but in the very short term. depending on when you're watching this, it's taking a bit of a hit because the inflation report for the US just came out a little bit higher than expected and the markets are not happy.

I Think there's a little bit of fear coming back, but once again, that's a very shortterm thing. I think in the medium term of why crypto's been going up specifically Bitcoin Like I said, I think there's four major reasons and I think there's even more reason reasons why. I Personally believe in the long term, it goes higher and higher and higher. There's a lot of talk about inflow of money into the asset.

I'd Also like to the note that the Momentum players are getting excited as well. so reason: Numero Uno Risk Appetite: The Resurgence in Crypto prices comes as expectations of looser monetary policy burnish the alert of riskier assets. The appetite for risk has trickled over into digital assets as well as the world of money becomes cheaper. Like money itself because of the FED fund, r becomes cheaper.

There's this idea that people might be a little bit more attracted to riskier assets because they can't get such a good yield from just treasury bonds anymore. So number one that makes sense just calling out basic monetary policy. Number two: Recovering losses. I Would say this is best explained as you have the cancerous aspects.

the major cancerous aspects of Crypto ripped out of the system. I'm talking about Sam Bakman Freed and FTX I'm talking about Tera Luna I'm talking about what happened with 3ac. I'm talking about what happened with Voyager I'm talking about what happened with Cel I'm talking about what's happening with Binance. You have a lot of these big big storyl lines that were clearly negative that are now concluding and a lot of these nefarious players ripped out of the system.

so we just took the cancerous Parts out. ETF inflows I Mean this one's pretty basic math right now. We're just below $10 billion of inflows into these spot. Bitcoin ETFs As Supply goes up and we know the demand is effectively constant, price has to go up.

The equilibrium between supply and demand is the price. So as demand's going up and suppli is basically staying constant, price is going to go up. It has fault. that's just Basic Finance 101 and then obviously Bitcoin having uh, this is expected to happen on April 13th where basically the reward for adding to The Ledger ensuring the security and the validity of The Ledger what you get for that is now going to get cut in half.

So instead of 900 new Bitcoin being added per day, we're only going to get 450. and once again, this is just has a clear impact on supply and demand. The overlap of the two most likely pushing price higher and higher and higher. So in the short to medium term of why things have been going up, those are the major call outs I Want to share with all of you but in the long term just remember we do not have a perfect monetary policy system.

Uh, we have a clear desire for a store of value in inflationary hedge and I don't know I don't have a crystal ball I can't be the person guaranteeing that the answer is Bitcoin But as of now, the riding on the wall Very Much lends itself to the answer being Bitcoin Now you have Bitcoin which of course is the king maker of the crypto industry and you have seen. Interestingly enough, Ed you have seen the price of Bitcoin hop back to levels that we haven't seen since December of 2021. Now we are well. as you were saying, we have reached above 60,000 in the peak of what we saw in Crypto when people were buying Bitcoin at home before FTX had collapsed.

But we are riding back higher and you're seeing the launches of these ETFs particularly for Black Rock and Fidelity in particular, have the greatest number of assets being brought in according to Bloomberg intelligence ever for an ETF launch of any asset class. So you are seeing traditional Wall Street hop in and help give that value proposition to Bitcoin. We are seeing it finally hop back up to levels that we saw when you initially saw the excitement around the ETF. The question is, does it reach new highs? Once again, you still have the having coming up in coming weeks.

There is an argument to be made that some of that is already priced in, but interestingly, it's not just Bitcoin Actually, that's seeing a lot of love lately. Even some other altcoins or uh tokens outside of the initial big 2 Bitcoin Ethereum take Salana Salana is up 133% over the last 7. Days In the short term. Now we were talking more about medium long-term what's going on in the short term in terms of just the gambling options Market They're actually agreeing that they see highers.

Now will those higher prices be coming? I Don't know, but that's what people are betting on Bitcoin Traders scoop up option bets at 65,000 and higher. The bullish flow is reminiscent of the 2020 to 2021 bull Market when Traders consistently snapped up Bitcoin calls at levels well above the going market rate. Many calls at 65,000 70,000 and 75,000 cross the table on the dominant crypto options exchange. darab bit over the weekend, the concentration of activity of the so-called out ofth money calls reflect bullish Market sentiment.

Now if you're in the US you can't use Darit. It's not based in the US and my question to all of you is is there any way in the US to trade Bitcoin options I'm not some saying something related such as an ETF or even more related like Mara Riot something like that I'm saying straight up: is there a way in the US to play Bitcoin Options to play Ethereum options to play Salon options. If you guys know, please leave, let me know in a comment cuz I looked for it and I couldn't find a reasonable one. So I'm very very curious.

Crypto Traders are snapping up cheap out ofth money Bitcoin calls or bullish option bets at levels around the cryptocurrency's lifetime high of 69,000 We see a concentration of open interest in $50,000 calls and have seen flows of 50, 60, and 75,000 calls in the listed options mark from April to June maturities and this is from the head of American Sales at Galaxy These flows demonstrate conviction from buyers willing to pay a premium to take on these positions, suggesting investors have a constructive view on Bitcoin. To put that in less of a PR public speak, they're bullish and they're jacked to the tits. Now will it play out? I Have no idea I very much want it to play out, but I kind of only want it to play out if I'm also on like I'm already invested in it. but I want to do these degenerate option bets I just don't necessarily know how to really execute it.

So so like I said, if you know, let me know but very quickly. Just to wrap this up Bitcoin Here's the daily chart: Crazy Bullish got hit right after the Bitcoin ETF approval fake out Breakdown: recovers, consolidates, explodes, gets above 50,000 and right now it's just taking a bit of a breather. But to have a better idea of like maybe where this goes from a technical perspective I would say switch it over to the weekly. We have a breakout of this high from March of 22.

The next level I' would really be looking at is 52,000 We have a high, a high, a high all in December of 21 and then after that is where we're going to start talking about the 60s again. So just a little bit of chart reading. uh for those of you who are curious, but right now things are looking good Now if you're looking in the past like 12 hours, all right, a little bit of a breather. But overall, this is a beautiful, beautiful bullish chain.

And I think that this this beautiful bullish trend is just because people are starting to realize what's going on with monetary policy, what's going on inflation, what's going on with the government And I think a lot of people are waking up to the fact that they want to be in control of their own Financial well-being rather than trusting in the US government. That's my thoughts. Those are my opinions. We'll see if that ends up being right, but I think it's a particularly exciting time.