HiFi Bitcoin - Weekly Update
Read now to see how the Bitcoin network and community are doing this week!
State Of The Network
This past week has been a rollercoaster for Bitcoin, marked by significant price volatility and a backdrop of evolving regulatory and political landscapes.
Price Action: Bitcoin experienced a wild ride, nearly surging past the $110,000 mark early in the week, fueled by anticipation surrounding President Trump's inauguration and his expected pro-Bitcoin policies. However, the rally quickly fizzled out, with prices briefly dipping below $100,000 amidst concerns about potential government intervention in the market.
Factors Influencing Volatility:
Trump's Inauguration: The inauguration of President Trump, known for his Bitcoin-friendly stance, initially boosted investor sentiment. However, the lack of immediate concrete policy announcements contributed to a price correction.
Government Intervention Concerns: Reports of a federal judge allowing the US government to sell seized Bitcoin sparked fears of a potential influx of Bitcoin into the market, possibly impacting prices.
Looking Ahead:
The Bitcoin market remains highly dynamic and subject to rapid shifts in sentiment. The long-term impact of President Trump's policies on the Bitcoin market remains uncertain, and regulatory developments may continue to play a role in shaping the future of Bitcoin.
BTC/USD Performance
Fear & Greed Index
Transaction Fees
Hashrate & Difficulty
Lightning Network Capacity
Bitcoin ETF Tracker
*The Bitcoin blockchain runs 24/7. As a result, some or all of the stats above could have changed, slightly or drastically, since the time the screenshots were taken. Click the source links to see the most up-to-date info available from each source.
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