Bitcoin’s Explosive Week: What’s Fueling the Financial Firestorm?

1ATH.Studio
4 min readMar 1, 2024

Join us on an exhilarating expedition through a week where cryptocurrency surges and AI breakthroughs collide in a spectacular tech spectacle!

Bitcoin and Ethereum Lead the Charge in an Enigmatic Market Rally

Bitcoin’s remarkable ascent past $64,000 alongside Ethereum hitting the $3,500 milestone encapsulates a bullish tide in the crypto realm this week. Dominating the digital asset space, BTC and ETH now represent 67% of the global market, valued at $1.5 trillion. With a 3% uptick in global market cap, reaching $2.3 trillion, the crypto market’s vitality is unmistakable.

BTC CHART
ETH CHART

OpenAI Unveils More Stunning Array of AI-Generated Videos

OpenAI has once again pushed the boundaries of AI creativity, releasing an eclectic mix of videos that capture the imagination.

Highlights include an exhilarating F1 race through the streets of San Francisco, a charming pug donning goggles, a border collie showcasing skateboard tricks, a stylish cat wearing glasses, and a mesmerizing depiction of a floating jellyfish.

Tyler Perry Pauses $800M Studio Expansion Due to AI Advances

Tyler Perry over the week, expressed significant concerns over AI’s impact on the entertainment industry, particularly after witnessing the capabilities of OpenAI’s video generator, Sora.

In a recent interview with The Hollywood Reporter, Perry revealed halting his planned $800 million expansion of his production studio, citing the transformative potential of AI in content creation.

Not Buying Bitcoin Early is the ‘Biggest Mistake I’ve Ever Made’ — Trevor Noah

Trevor Noah, the South African comedian and entertainer, considers not purchasing Bitcoin when it was “worth nothing” as the biggest mistake of his life. The actor and comedian, also ex-host of The Daily Show, spoke to thousands at Web Summit Qatar 2024 in Doha on Feb. 26.

US Senators Challenge Federal Reserve on CBDC Introduction

A coalition of US Senators, led by Texas Senator Ted Cruz, is taking a stand against the Federal Reserve’s potential rollout of a Central Bank Digital Currency (CBDC). This movement, primarily supported by GOP members, aims to scrutinize and possibly restrict the Fed’s ability to launch a digital dollar, signaling a significant political debate ahead of the 2024 Presidential election.

SBF Offers Investment Tips in Prison

Sam Bankman-Fried, the embattled founder of FTX, is reportedly sharing trading and investment insights from prison, even suggesting to guards that they consider investing in Solana.

Bank of America and Wells Fargo Embrace Bitcoin ETFs

Bank of America’s Merrill Lynch and Wells Fargo are integrating spot bitcoin exchange-traded funds (ETFs) into their brokerage offerings, as reported by Bloomberg.

This strategic addition, following the January debut of 10 ETFs, marks a pivotal moment for the financial industry, signaling a growing acceptance of cryptocurrency within traditional investment frameworks.

Alibaba’s Uveils EMO, an AI Breathing Life into Portraits with Audio Sync

Alibaba’s Institute for Intelligent Computing this week, unveiled “EMO,” a groundbreaking AI system capable of animating still portraits into realistic talking or singing videos.

This innovation, detailed in a recent arXiv publication, masters the art of syncing fluid, expressive facial animations with any audio input, marking a significant leap in the audio-driven talking head video domain.

Spot Bitcoin ETF volumes shatter record with massive $7.7B traded

Spot Bitcoin ETFs in the United States have shattered previous trading volume records, reaching an unprecedented $7.69 billion on Feb. 28. This new milestone surpasses the former record of $4.66 billion set on their launch day, Jan. 11, showcasing a significant surge in investor interest and market activity .

Leading the charge, BlackRock’s iShares Bitcoin ETF (IBIT) accounted for 43.5% of the day’s total volume, achieving a staggering $3.35 billion in trades and doubling its prior daily best .

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