Hakan Ateşler 
Bitcoin, which exceeded $73,700 in the morning hours yesterday and renewed a record, then fell sharply and fell below $66,000 in tonight’s hours. The sharp volatility seen in the last 24 hours resulted in the liquidation of more than $800 million crypto positions in the futures markets.
At the end of December, the Avalanche Foundation, which stated that it will invest in some tokens on the Avalanche network and even mentioned the importance of meme coin culture, announced the 5 coins it invested in.
AK Party Information and Communication Technologies Chairman Ömer İleri spoke about the highly anticipated regulation on cryptocurrencies. Speaking to Anadolu Agency, Ileri said, “We are creating a flexible infrastructure. We will regulate crypto asset platforms, service providers, service providers, service models,” he said.
In El Salvador, which made Bitcoin official currency in 2021, Nayib Bukele, who was re-elected president last month, announced that they moved Bitcoin worth about $400 million to a new cold wallet.
Bitcoin, which retreated to the level of $67,000 yesterday evening, made a sharp correction, while ETFs also performed below expectations. Funds received a net investment of $132 million. It was noteworthy that Fidelity also remained at a low level of $13 million and received the least inflow since 11 January.
The mining difficulty, which peaked even when Bitcoin was experiencing very serious declines, hit a record again yesterday. The difficulty level exceeded 83 trillion. With the difficulty, the hashrate also peaked again and showed that more miners were included in the system.
A trader who managed to buy dogwifhat (WIF), which was released in December 2023, in the first days of its launch, has thrown away a huge profit, despite making 10 fold profit on this meme coin. Trader’s loss of impatience cost him $24 million.
Bitcoin’s surge has been accompanied by a few meme coins so far, led by PEPE, which continues to surge from peak to peak. In the last month, PEPE has increased by 800% and WIF by 700%, while both coins reached ATH levels this morning.
Bitcoin started this morning breaking yesterday’s record and reached up to $73,670. ETFs, the biggest reason for the largest cryptocurrency to reach these levels, received hundreds of millions of dollars of investment yesterday.
Bitcoin’s rises have pushed the price above $ 73,000, while the demand for ETFs has not slowed down. Ki Young Ju, CEO of on-chain tracking platform CryptoQuant, claimed that there will be a serious Bitcoin supply crisis in the next 6 months.