Market Update
Block Earner Bulletin: Gold, Silver & Bitcoin go out for dinner. You should come!
11 Mar 20263min
In an encouraging move, crypto has shown remarkable resilience during the latest wave of geopolitical turmoil. Traditional markets (led by the crazy oil movements, up almost double, and back down again) had one of their worst days in the last decade yesterday, while BTC/ETH showed strength and even gained some ground. Perhaps the safe-haven narrative is finally catching on?
There is no hiding from the bear market sentiment now, prices are suppressed with low volatility and social noise is low, just like last time and the time before that. However, there are a few signals we’re keeping a close eye on that may shorten this window:
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Institutions continue to buy Bitcoin, many increasing their digital asset balance sheet faster than ever (over 100 publicly traded companies have bought more Bitcoin since the start of the year).
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Run ups in gold price (+40% over 6m) typically happen before a move in Bitcoin, investors regularly rotate gains between the two.
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Trump overnight claimed the war would be over any second now, sending oil plummeting and traditional markets back to where they started. It’s up to investors if they believe him or if the conflict rages on...
Stay safe out there.
Here for you, as always.
Letter from the trenches
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Crypto News
Bitcoin’s Stock Correlation Doesn’t Undermine Its Diversification Role
Last week, venture capitalist Chamath Palihapitiya and hedge fund founder Ray Dalio questioned Bitcoin’s role in central bank reserves. Yet their concerns highlight something important: Bitcoin is now being evaluated within the global monetary order. According to Greg Cipolaro of NYDIG, claims that Bitcoin’s price is closely tied to US SaaS tech stocks are overstated. Bitcoin’s value, he notes, stems from its globally distributed network, political neutrality, digital scarcity, and its ability to operate independently of any government or monetary authority.
Solana Overtakes Ethereum Stablecoin Volumes in February
Stablecoin transaction volume on Solana reached $650 billion in February, more than double the prior monthly record, according to Grayscale. Solana outpaced Ethereum and Tron, which are among the heavy hitters when it comes to stablecoin activity. A clear statement that Solana has been gaining population as one of the top chains for cheap transaction fees and rapid stablecoin transactions. Tokenised gold is among the real-world assets gaining traction on the Solana network.
Dubai’s Token2049 Set To Go Forward Amid Growing Conflict
The crypto event’s decision to continue as planned comes at a time when other conferences have been postponed, and when sporting events have been canceled. “Token2049 Dubai remains scheduled as planned and preparations continue in full as we build toward the event at the end of April,” said an event spokesperson. “Registrations track toward a sold-out event, and the exhibition floor is already fully secured. Preparations with our venue and partners continue as planned.”
Disclaimer: The information contained in this blog is general in nature and is provided for informational purposes only. It does not constitute financial, legal, or tax advice, and should not be relied upon as such. Block Earner does not guarantee the accuracy or completeness of any information presented. You should consider your own personal circumstances and seek professional advice before making any financial or investment decisions. Past performance is not indicative of future results. All investments carry risk.
