According to market data, Bitcoin has risen above $69,000, currently trading at $69,003.52, with intraday losses narrowing to 3.12%. The market is volatile, so please be prepared for risk control.

The Bitcoin block reward is forecast to halve on April 20th. This is seen as a bullish catalyst for crypto markets. I agree that it will pump prices in the medium term; however, the price action directly before and after could be negative. The narrative of the halving being positive for crypto prices is well entrenched. When most market participants agree on a certain outcome, the opposite usually occurs. That is why I believe Bitcoin and crypto prices in general will slump around the halving.

Messari has released its Q1 2024 Bitcoin State of the Market report, which shows that BTC's price has increased by 69% to $71,310 compared to the previous quarter, reaching a new historical high in April as the new halving cycle approaches. The success of spot BTC ETFs is a driving factor in the price trend, with over $12 billion in inflows in the first quarter. Spot BTC ETFs currently hold 831,000 BTC, or $59 billion. Transaction fees and costs have decreased by 40% and 60% respectively. However, NFT exchanges still have daily sales of over $10 million. The April halving will bring the launch of the Runes token protocol and Epicsat. Miner income (in USD) has increased by 34% compared to the previous quarter, and miners are exploring glyphs and MEV as additional sources of income. Some miners have already conducted bulk sales to meet the needs of Ordinals builders. The TVL of programmable Bitcoin layers has increased by 127% compared to the previous quarter. Dozens of new layers are being built to expand Bitcoin and increase its programmability, with many layers exploring BitVM-based bridging and state verification.

Bitcoin ecosystem GameFi platform Bitcoin Cats announced the launch of an upgraded $1CAT staking and points system. Users can earn points by staking 1CAT assets, which will determine eligibility for future airdrops. After staking 1CAT assets, users will gradually accumulate points in five stages: 24 hours, 7 days, 30 days, 90 days, and 360 days, each corresponding to a different points multiplier.

QCP Capital, a crypto market maker, stated in their latest market report that despite limited fluctuations in Bitcoin prices over the past week, market sentiment is turning bullish on Bitcoin due to the following five reasons:

Binance NFT marketplace will cease supporting trades and deposits of Bitcoin Ordinals on April 18.

As I’ve said many times before. Everyone and every nation will eventually capitulate to Bitcoin. The latest nation to capitulate is Great Britain, whose army of anti-Bitcoin propagandists has just received orders from The Motherland that Bitcoin is to be fully embraced.

The Bitcoin L2 network Mirror Staking Protocol announced that its testnet is now online.

According to official data from BlackRock, as of March 28th, the holdings of its physical Bitcoin ETF, IBIT, have reached 252,011.4093 BTC, with a market value of approximately $17,832,735,583.58, setting a new historical high. The current number of circulating shares has risen to 440,040,000.

The market shows BTC has broken through $70,000, currently reporting at $70,001.76. The intraday decline has reached 0.89%, and the market fluctuations are large, so please be cautious with risk control.