FTX founder receives 25-year jail sentence, SEC seeks $2b from Ripple, Bitcoin reclaims $70k | Weekly Recap
31/03/2024
In the past decade, global interest in women-led/owned businesses has surged, fostering strong community-building movements and innovative solutions for this expanding market(MENA).
01/04/2024
Bitcoin’s price experienced a slight dip on Monday, slipping below the $70,000 mark amidst heightened market volatility ahead of the anticipated halving event later this month. As of 07:26 ET (11:26 GMT), BTC had fallen over 1% in the past 24 hours, settling at $69,597.8.
Data from Glassnode revealed that Bitcoin’s 30-day annualized realized volatility surged to 63.76% last week, marking its highest level since August 2022. Realized volatility measures return deviations from their average over a specified period, indicating higher risk with increased figures.
Interestingly, Bitcoin’s 30-day realized volatility now exceeds Ethereum’s by nearly 10 percentage points, the widest gap observed in over a year, according to analytics firm Kaiko. This divergence occurred following the U.S. Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds (ETFs), offering traders indirect exposure to Bitcoin without direct ownership.
JPMorgan analysts estimated approximately $184 million in sales across US spot Bitcoin ETFs on Thursday, the 54th trading day since their launch. Notably, Bitwise’s BITB vehicle saw a significant uptick with $67 million in inflows, surpassing its daily average.
In other crypto news, Bitkub Capital Group Holdings, the parent company of Thailand’s leading cryptocurrency exchange Bitkub Online, plans to launch an initial public offering (IPO) in 2025. CEO Jirayut Srupsrisopa aims to list the company on the Stock Exchange of Thailand to enhance visibility and secure additional funding. Financial advisors are currently being engaged for this purpose, following a shareholder letter hinting at the IPO in 2023. In July 2023, Bitkub sold a 9.2% stake of Bitkub Online Co. to Asphere Innovations Pcl for 600 million baht ($16.5 million), with expectations of increased valuation driven by rising trading volumes akin to the 2021 cryptocurrency boom.
