Power to the Beeple! — March 12

Chart of the Day

The Great Wall of Volume: The price of BTC once again flirted with its previous all-time high, briefly revisiting the $58k level on March 11, 11:00PM UTC, before correcting in the lower $57k region. There has been solid on-chain support as well, as evidenced by the UTXO realized price distribution chart, which presents the volume of coins being bought at each price level. A local maximum exists around $46k-$48k, showing that strong hands came in to buy the latest dip, while heavily validating the price of BTC at that level and above. The current momentum will likely drive the price towards $60k, although the question remains — when exactly? 

Talk of the Town

ICYMI: This JPG file just sold for $69 million. 

Power to the Beeple! When you think about the most expensive artworks by a living artist, names such Jeff Koons or Gerhard Richter often come to mind. Well, we have a new name on the list — Mike Winkelmann, aka Beeple, with an auction of his digital art collage, titled Everydays: The First 5,000 Days. And here is the twist, the artwork is attached to an NFT, which is, by itself, a certificate of authenticity.