According to SoSo Value data, on March 13th, the Bitcoin futures open interest reached a new all-time high. As of the time of writing, the Bitcoin futures open interest has reached $33.94 billion, surpassing the second-highest point in November 2021 of $23.04 billion. At the same time, the Bitcoin funding rates on mainstream exchanges including Binance and OKX have also reached a new high not seen since the beginning of 2023.

According to OKX market information, Bitcoin briefly fell below $71,000 and is currently priced at $71,468, with a 24-hour decline of 1.29%.

Bitcoin has broken to its fourth cycle all-time-high, rallying above $72k, and pushing sentiment one step closer to Euphoria. The classic wealth transfer from the HODLer cohort to speculators is now well underway, with significant upticks in spot profit taking, and demand for futures leverage.

According to Coinbase data on March 12th, Bitcoin broke through $73,000 and is now priced at $73,027, continuing to reach new historical highs.

Bloomberg reported that Erik Thedeen, Governor of the Swedish Central Bank, said: "I hope to see as little Bitcoin as possible in the Swedish financial system. It is an unvaluable tool and is actually based on pure speculation. Although Bitcoin does not pose a threat to financial stability, it is still a risk to consumers."

In the ever-evolving landscape of blockchain and cryptocurrency, ZKBase has taken a significant leap forward with the introduction of ZKSwap(Bitcoin) V0.1 Testnet on March 11, 2024.

Trade Strategy: Call Ladder View: Moderately Bullish View on BTC

The market shows BTC has broken through $72,500 and is currently trading at $72,504.8, with a daily increase of 4.73%. The market is volatile, so please be prepared for risk control.

The nominal open interest of CME Bitcoin futures has exceeded 10 billion US dollars for the first time, which is twice the peak value of 5.2 billion US dollars during the bull market period in 2021, and also exceeds the market value of several top 25 cryptocurrencies such as Litecoin and Bitcoin Cash.

Former US President Donald Trump said in an interview with CNBC that "Bitcoin has been widely used, and I am not sure whether to ban it. I will not allow other countries to get rid of the US dollar."