Bitcoin Singapore 2024 will take place on March 9th and will last for one day. The conference will focus on exploring the development of the Bitcoin ecosystem and the latest community developments. The conference will gather many experts and senior participants in the Bitcoin ecosystem, covering topics such as technological progress, new product ideas, and different cultural characteristics, comprehensively exploring the Bitcoin ecosystem. Bitcoin Singapore 2024 is jointly organized by Nervos CKB and ABCDE, with strategic support from LNP/BP Association and Bitlight Labs. Matt Quinn, Executive Director of the Nervos Foundation, Arnaud, a member of the LNP/BP Association Board of Directors, Super Testnet, a contributor to BitVM, BTCStudy contributor Zeng Mi, and Lightning Labs engineer Yong, and other heavyweight guests will explore the Bitcoin ecosystem from multiple perspectives such as RGB, BitVM, Lightning Network, and UTXO.

Bitcoin investors have been rewarded for their patience and conviction, with BTC prices rallying to multi-year highs above $50k. The volume of supply held at a loss is also thinning quickly, with just 13% falling into this category.

According to BTC.com data, the current best transaction fee for the Bitcoin network is 14 Satoshi/vbyte.

The Bitcoin development organization Brink has received $3.6 million from cryptocurrency exchange Coinbase on the X platform. It is reported that Brink was established in 2020 with the aim of promoting the development of the Bitcoin protocol through research and development, as well as supporting the Bitcoin developer community.

Bitcoin and Ethereum experienced significant pullbacks, with Bitcoin approaching a fall below $52,000 and Ethereum dropping below the $2,800 level for the first time in two years. Other altcoins, including XRP and Cardano, also saw volatility. The trading volume for Bitcoin and Ethereum both decreased, while the market cap for Bitcoin remained at $1.02 trillion and the market valuation for Ethereum was $335.53 billion. Bitget Token was the top gainer, surging by 29.68%, while Pepe Coin experienced a notable decline of 5.14%.

Bitcoin's price has seen double-digit gains in the past week due to institutional demand, as evidenced by major inflows to spot Bitcoin ETFs. This has led to a drop in retail participation during the ongoing rally. Crypto analyst Ali Martinez suggests that this indicates a potential reconfiguration of market dynamics as institutional interest takes center stage. Despite expectations of a supply shortage due to heightened demand from US spot Bitcoin ETFs, liquidity in the cryptocurrency market has actually improved since their introduction. However, there is a surplus of tokens circulating within the market and selling pressure may increase due to court rulings permitting companies to liquidate their GBTC holdings and miners increasing their selling activity.

According to data from HODL15Capital, Canadians continue to sell shares of the Purpose Bitcoin ETF. Purpose sold 188 bitcoins yesterday, and has sold 4,000 bitcoins since the launch of the US ETF.

The donation went through Coinbase’s GiveCrypto initiative, which the exchange announced in December it planned to wind down.

The National Banking and Securities Commission of Honduras imposed the ban because of the country’s lack of regulation.

On February 17th, Celsius announced that its qualified creditors have claimed over $2 billion worth of Bitcoin and Ethereum through channels such as PayPal, Venmo, and Coinbase. The official statement mentioned that the team is exploring solutions to restrict mailing USD checks and will allow some creditors to choose to receive fund allocations through wire transfer.

Bitwise CEO Hunter Horsley posted on social media that on February 16, $21 million flowed into BITB, representing investors buying Bitcoin.  The total inflow this week reached $230 million, and the asset management scale is now about $1.2 billion.

The market shows that BTC has fallen below $52,000 and is now trading at $51,997.3, with a daily increase of 0.21%. The market is highly volatile, so please be prepared for risk control.

Why does bitcoin’s long-term price just keep going up? This seemingly evergreen topic has a tendency to bring out some of the wildest takes imaginable, with institutional proximity tending to be inversely related to explanatory power.

Data shows that Bitcoin hit a new historical high of 7.9 million yen on the Japanese cryptocurrency trading platform bitFLYER on Monday this week. In comparison, the Bitcoin price in US dollars is $52,000, which is 32% lower than the historical high of $69,000 in November 2021. This price difference reflects the pressure on the yen under the continued loose policy of the Bank of Japan (BOJ) and inflation recovery, despite the significant interest rate hikes by the Federal Reserve and other central banks in 2022 and 2023 to curb inflation. The Bank of Japan will maintain zero interest rates and continue to print a large amount of currency. Japan's core inflation rose 3.1% in 2023, the largest increase since 1982, and the yen depreciated by 8% in 2023.

Bitcoin’s price has been on a relentless ascent, momentarily crossing the $50,000 threshold. This surge is partly fuelled by increased investments in Bitcoin ETFs and a reduction in selling pressure from GBTC. However, the dynamics extend beyond ETF activities. A resurgence in global liquidity is bolstering both equity and digital asset markets, reflecting an uptick in the money supply.

Asset management company ByteTree data showed that since October 2023, the global Bitcoin allocation in exchange-traded products (ETPs) has increased by nearly 100,000 BTC, currently holding about 890,000 BTC, accounting for approximately 4.56% of Bitcoin's circulating supply. In just the past 7 days, global Bitcoin ETP has surged by about 25,000 BTC, the largest weekly increase since early 2021.

According to Deribit data, nominal value of over $966 million in BTC options and $543 million in ETH options contracts will expire and settle this Friday (February 16th). The maximum pain point price for BTC is $45,500, and for ETH it is $2,350.

The market showed BTC breaking through $51,000, currently reporting at $5,102.1, with a daily increase of 1.89%. The market is volatile, so please be prepared for risk control.

According to data compiled by Coingecko, the price of Bitcoin on Valentine's Day 2024 reached a new high of $49,732. The specific prices for each year are as follows:

An analyst has stated that risky assets such as Bitcoin seem to be able to withstand the stickiness of inflation in the United States and the decreased likelihood of a rate cut by the Federal Reserve in the first half of this year. The market predicts that Bitcoin is poised to reach a new all-time high this year with confidence.