Crypto Market Update – February 2024

March 28, 2024

Exciting developments are shaping the landscape of the cryptocurrency market as we head into March:

  • Bitcoin continues its meteoric rise, surging past $70,000 as institutional investors increasingly flock to the digital asset. However fall back after reaching all time highs above 73k. 

  • Regulatory advancements are making strides in the crypto space, with growing recognition that regulation can actually enhance market efficiency.

  • Analysts and experts are weighing in on the driving forces behind Bitcoin’s surge, offering insights into the factors propelling the cryptocurrency to new heights.

At Altfund Management, we remain committed to navigating this dynamic environment by investing in leading hedge funds within the blockchain space. Through our fund-of-funds approach, we aim to generate returns for our investors by partnering with top-performing digital asset hedge fund companies and managers. Stay tuned for more updates and insights as we continue to monitor the evolving crypto landscape.

Bitcoin passes $70,000 as big buyers flock in.

“Bitcoin hit a two-year high on Tuesday, on track for its biggest two-day rally this year, on signs large players were buying the cryptocurrency, while smaller rival ether topped $3,200 for the first time since 2022.”


Bitcoin Falls Back After Reaching Latest All-Time High Above $73,000

“Bitcoin prices have taken a tumble lately, suffering a modest correction after notching a series of fresh, all-time highs over the last several days.”


Regulation makes crypto markets more efficient.

“Both small and institutional investors should know, if they invest in coins without any regulation, they may suffer from price manipulation or a severe lack of insider information”


Cryptocurrency Market News: Reddit’s Crypto Stash, Bitcoin Tops $53,000.

“As it gears up for an initial public offering (IPO), social media platform Reddit unveiled its ownership of bitcoin and ether (ETH) in a filing with the U.S. Securities and Exchange Commission last week.”


What’s driving the bitcoin surge? Experts weigh in.

“The largest cryptocurrency has soared more than 20% over the last four days, approaching an all-time high.”


3 Crypto Trends Investors Might Have Overlooked.

“As the fervor around the approval and launch of 11 spot bitcoin ETFs settles down, and the bevy of legal actions that the SEC is embroiled in continue to drag along, analysts and investors alike have had plenty to digest since 2024 got underway.”


Bitcoin, Ethereum lead crypto in $145m liquidation day.

“CoinGlass reported that over $145 million was liquidated from the crypto market in 24 hours across exchanges. As most traders anticipated lower prices, $91 million of these trades were registered as short positions.“


Is Warren Buffett Warming Up To Bitcoin? Berkshire Hathaway Profits Big From Crypto Investment.

“Considering Buffett’s hesitancy to invest in crypto directly, this could be an eye-opener for the legendary investor. As the company looks back on 2023, the strong performance of its crypto-related investment could cause it to look into other crypto stocks or even cryptocurrencies themselves.”


Crypto industry sues EIA over analysis of energy use.

“A cryptocurrency association and bitcoin mining company are suing to toss out White House emergency approval for the U.S. Energy Information Administration to collect data about the sector’s electricity use.”


Two Ethereum DeFi traders just made $120m using a strategy called ‘looping.’

“A pair of high-value Ethereum traders are up nearly $120 million today as crypto prices continue to jump.”


Trump warms up to Bitcoin, signals openness to regulation.

“Former President Donald Trump has recently showcased a notable shift in his stance toward Bitcoin, diverging from his historically critical view of cryptocurrencies.”

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