Weekly Pill — Volume 012
TL;DR
- ETH ↑7% to $3.2k and BTC ↑7% to $66.4k
- ETHBTC flat at 0.049
- Get Paid to Borrow Bitcoin Round 2
- Halving impact on ETHBTC and BTC
ETH/BTC Market Snapshot
ETH and BTC recovered some of the losses from last week with ETH gaining 6.9% to $3.2k and BTC gaining 7.3% to $66.4k. A boost in ETHBTC today kept it flat on the week at 0.049.
Get Paid to Borrow Bitcoin
We talked it over, and we decided that YOU deserve to continue GETTING PAID to Borrow Bitcoin.
This month, we are offering an extra 11 stETH as incentives for opening eBTC CDPs with ETH or WETH.
Dose of ETH
In case you missed it, last week we discussed the historical impact of halvings on ETHBTC.
TL;DR ETHBTC has seen significant gains in the year following the past two halving events.
Many traders are now anticipating a reversal on $ETHBTC. Poseidon has identified a potential Power of 3 (Po3) setup, suggesting that the price is dipping below the range before trending upwards.
Dose of BTC
Last week marked the fourth halving of Bitcoin, which coincided with a surge of activity, including Runes fungible tokens on Bitcoin. As a result, 74% of miner revenue that day came from fees. Check out our friend Tom Wan for more BTC analysis.
Is the halving priced in? Matt Hougan from Bitwise shares his perspective from an efficient markets and macro perspective.
