Wednesday, Feb 28, 2024

BTC breaks through $60k, BTC weekend volumes, Russia tokenization + trade, another bank stablecoin

“We have to encourage the future we want rather than trying to prevent the future we fear.” – Bill Joy  ||  

Hello everyone! A really short (and late!) email today as I have an unexpected scheduling twist and am not at my desk. Also, no audio, sorry! If you missed yesterday’s newsletter, I hope you like the formatting change, with the repetitive intro now moved down to the bottom. Let me know if not!

IN THIS NEWSLETTER:

• BTC breaks through $60,000

• BTC weekend volumes are lower

• Another bank stablecoin on a public exchange

• Progress in Russia’s tokenized cross-border trade

If you’re not a subscriber, I hope you’ll consider becoming one!

WHAT I’M WATCHING:

BTC breaks through $60,000

I don’t actually have much to say about this today, other than wow, and that I wish I were at my desk this morning! I’ve been saying for a while that when BTC starts to move, it will be fast, but it’s still quite something to actually see it happen.

(chart via TradingView)

The next resistance level from here? To be honest, I don’t know much about technical analysis, but I’m told by those that do it’s around $65,000. A more interesting question to me is who is selling now – there will always be profit-takers, and we could see more of this as the price approaches the all-time high of $69,000.