Summary
TLDR: As Bitcoin approaches its halving event, the price climbs to $71,000 before retracing to $70,500. The halving is now 2,818 blocks away and is expected to happen on April 21, 2024. Investor sentiment is optimistic, reflected in the Fear and Greed Index and total cryptocurrency market capitalization. Total liquidations have exceeded $108 million in the past 24 hours. Investors are also monitoring macroeconomic data and Federal Reserve Chairman Jerome Powell’s comments for potential impact on the market.
Key Points
1. Bitcoin is climbing back to $71,000 as the much anticipated Bitcoin halving approaches, but has retraced to $70,500.
2. The Bitcoin halving is now 2,818 blocks away and is estimated to happen on April 21, 2024.
3. The Bitcoin Fear and Greed Index has shifted into “Extreme Greed” territory, reflecting growing optimism among investors, while the total cryptocurrency market capitalization has reached $2.827 trillion with a 2.1% increase in the last 24 hours.