Bitcoin PUMP

February 28, 2024 • Reading Time:5 minutes

GM.

Happy Bitcoin Pump daaay!

Today on Money Printer Go Brrr newsletter:

Bitcoin PUMP 🚀 : GBTC lowest outflow
Bitcoin L2 tokens pump like crazy. 🤪
Trader goes viral with 4,530x return 🤯
4 things you should know today

Bitcoin PUMP: GBTC lowest outflow

Did you catch that Grayscale's Bitcoin ETF is finally seeing less money leaving?

It's down to a $22.4 million outflow. 👆️

💡 Why does it matter?

→ an ETF's net outflows or inflows indicate investor sentiment. A decrease in outflows or an increase in inflows can signal growing confidence.

Essentially → if you no money come out from the ETF it means investors are holding → growing confidence

→ when a prominent fund like Grayscale's GBTC shows a change in flow direction, it's seen as a significant indicator of market sentiment.

Big names in the crypto world, like Adam Back and Henrik Andersson, are keeping their eyes peeled for the day Grayscale gets some cash flowing in.

👉️ It’ll be a huge deal for the market.

waiting for the day $GBTC flashes an inflow.
(it could happen, needs to hold a just enough premium to incentivize one of their APs to arbitrage it).
— Adam Back (@adam3us)
11:44 PM • Feb 26, 2024

And guess who's grabbing all the attention?

Fidelity's ETF raked in over $243 million on Feb. 26 alone.

That's almost half of all the money that flowed into Bitcoin ETFs that day!

As the street slang goes, just ‘send it.’

Bitcoin L2 tokens pump like crazy

You remember those Bitcoin layer-2 tokens?

Yeah, they're totally killing it right now!

Which asset has seen the largest increase in social activity over the last year? One of the strongest has been $STX. With excitement about #Bitcoin Layer 2s increasing, so has social activity for @Stacks.
Social interactions are up nearly 16,000% with activity accelerating as… twitter.com/i/web/status/1…
— LunarCrush (@LunarCrush)
12:24 AM • Feb 27, 2024

BTC L2 tokens like Stacks (STX) and RSK Infrastructure Framework (RIF) saw significant gains, outperforming the broader crypto market.

Stacks (STX) is up 30% from $2.44 to $3.21
RSK Infrastructure Framework (RIF) is up 25% from $0.193 to $0.242

What’s more crazy?

Social interactions have surged by almost 16,000% due to increased activity and social metrics, fueled by enthusiasm for Bitcoin layer-2s.
BRC-20 tokens are also experiencing significant price increases. Tokens such as MUBI, TRAC, INSC, PEPE, and MEME have all surged by at least 20% in a single day.

How big is now the Bitcoin ecosystem

BRC-20 tokens: 715 total Tokens..

L2s:

🔥 Meanwhile we have Bitcoin hitting the $59,000 mark

The money locked in these Bitcoin sidechains is no joke.

Both Bitcoin layer-2 solutions and BRC-20 tokens contribute to

the diversification &
expansion of the cryptocurrency ecosystem

If the development continues at this pace, there are chances that the Bitcoin ecosystem (with L2 & tokens) to overthrow the ETH chain.

Trader goes viral with 4,530x return

Can you believe it?

Some lucky trader turned a mere $310 into a whopping $1.4 million just by holding onto some WIF tokens for ONLY 3 months.

That's almost like winning the lottery! 😁

And guess what? WIF's price just jumped over 42% in a single day, now sitting pretty at $0.54.

But, did he cash in? → No! Apparently, he’s still holding to his bags. Greed will cause him to lose everything.

What’s dogwifhat (WIF)

→ a meme coin, nothing else…

→ it’s ‘literraly just a dog with a hat’

Some token metrics

→ $570M market cap 🚶

→ 46k holders

The website https://dogwifcoin.org/

In the meme coin casino, the stakes are high, but the jackpot? Out of this world.

Just remember, what goes up must come down. Play smart!