Overview

• Highlights from the Miami Bitcoin Conference.
• Bitcoin's price drop: when is the best time to buy?
• The competition between Solana and Terra's EVMs.
• Launch of Solana NFTs on Opensea.

Miami Bitcoin Conference Highlights

The annual Miami Bitcoin Conference commenced today with the grand reveal of Bitcoin's latest emblem, the Bitcoin Bull, a modern twist on Wall Street’s famed bull.

The conference was rich with valuable insights from keynote speakers. Notable mentions include:

• Brain Estes discussing "Valuing Bitcoin" (predicted to reach a minimum of US$1 million by 2024/2025).
• Mark Yusko's insights on "Investing in The Bitcoin Ecosystem."
• Kevin O’Leary's keynote presentation.
• Mike Novogratz emphasizing the need for political support for Bitcoin.

Tomorrow's agenda looks equally impressive, with Jack Mallers' anticipated speech about Apple. Follow @TheBitcoinConf on Twitter for real-time updates and catch Jack’s significant announcements on Crypto Banter.

Market Update

After a week of consolidation, Bitcoin (BTC) broke out of the $45,000 to $47,500 range, but unfortunately, it was a downward movement. Some traders are looking at the downward trend line around $41,500 for the next support test, while others are observing the upward trend that began in late January at about $40,000. Bitcoin ended the US session down 5.10% at US$43,150.

Source: Trading View

On a brighter note, Terra’s LFG recently acquired an additional US$230 million in BTC, while over US$500 million in leveraged positions were liquidated in the preceding 48 hours.

Source: CoinGlass

The Federal Reserve's recent meeting minutes carried a hawkish tone, despite no changes to its prior balance sheet reduction plans. Asian markets reacted negatively, causing S&P 500 futures to drop 1.22%, but US traders managed to stabilize things, pushing Nasdaq up 0.80% for the day while the VIX (volatility index) fell from 24.77 to 22.18.

Despite minimal changes in the market fundamentals, the overall trend remains upward. Strong support levels could serve as ideal accumulation zones for Bitcoin and altcoins during this market pullback.

BE FIRST to receive this FREE daily newsletter by subscribing on Substack.

If you find this report valuable and wish to support my writing, consider contributing 20 sats (0.01 cent) by pressing the clap button below (up to 50 times). Thank you!

Newswatch

Stablecoin Regulations: Senator Pat Toomey has introduced the initial draft of a stablecoin bill, titled “Stablecoin Transparency of Reserves and Uniform Safe Transaction Act” (Stablecoin TRUST Act). This bill aims to define "stablecoin" in three distinct categories, with "payment stablecoin" being the most significant. This could put Tether’s USDT, the leading stablecoin, under scrutiny since it revealed backing by various risk-denominated assets in 2021.

USDC in TradeFi Payments: Circle, the issuer of USDC, has partnered with FIS Worldpay, enabling their customers to receive, hold, and transfer USDC for faster and more efficient transactions. Over 1,000 companies, including the American Red Cross, currently utilize FIS for payments.

Fund Cleanup: Grayscale has removed SushiSwap (SUSHI) and Synthetics Network (SNX) from its Large Cap Fund, replacing them with Avalanche (AVAX), Polkadot (DOT), and Cosmos (ATOM) during its quarterly rebalancing.

On-chain Developments

Terra DeFi: Neel Somani, a Terra engineer, discussed “The Future of Terra DeFi,” focusing on UST’s use case as Anchor reserves dwindle. Somani is also developing Terranova, an EVM-compatible ecosystem that will facilitate dApp deployment on Terra.

Stablecoin Update: All kUSD on Polkadot and Kusama parachains have transitioned to aUSD, establishing it as the native stablecoin for these networks.

Ethereum dApps on Solana: Neon EVM has launched on Solana's devnet, allowing developers and testers to battle-test Ethereum-based dApps on the Solana platform.

NFT & Metaverse Update

Tom Brady’s NFT venture, Autograph, has partnered with ESPN to launch an NFT collection coinciding with Brady’s docuseries “Man in the Arena: Tom Brady” on ESPN+ and Disney+.

Solana NFTs on Opensea: Opensea, the leading NFT marketplace, now supports Solana-based NFTs, enabling users to purchase assets like Sol Apes!

Notable Mints

Writer’s Perspective

The amount of insightful information regarding Bitcoin is overwhelming, with more significant announcements still to come. The conference's growth year after year signifies the expanding cryptocurrency ecosystem. The world is taking notice. Don’t let minor Bitcoin price fluctuations discourage you; instead, seize the chance to acquire undervalued tokens while market sentiment is cautious. The conference reinforces a critical message: Bitcoin and the entire crypto sector have a promising future ahead.

BE FIRST to receive this FREE daily newsletter by subscribing on Substack.

If you find this report valuable and wish to support my writing, consider contributing 20 sats (0.01 cent) by pressing the clap button below (up to 50 times). Thank you!

Thanks for reading Crypto Brew. Have a wonderful weekend!

Gabri Follow me on Twitter and Medium or subscribe to this FREE daily newsletter on Substack. Join Coinmonks Telegram Channel and YouTube Channel to learn about crypto trading and investing. Also, read: - Bored Ape Yacht Club (BAYC) Review - 5 Best Crypto Trading Terminals | Best DeFi Apps - How to use BitMEX in the USA? | BitMEX Review - Best Futures Trading Signals | Liquid Exchange Review - Crypto Exchanges In South Africa | BitMEX Crypto Signals - MoonXBT Copy Trading | Crypto Wallets in UAE

In this video, a macro economist discusses strategies for Bitcoin in the current market, emphasizing the importance of timing and market conditions.

This video analyzes predictions for Bitcoin's price reaching $51k soon and offers insights on what to consider when buying during market dips.