Is there a potential reason why Bitcoin surged 10% in 24 hours?

On February 15, after the official CPI data was released, Bitcoin recorded a rare one-day gain of 10.57%, a level last seen in September 2022. BlockBeats has combed through recent events that could be the potential cause of Bitcoin's surge.

Binance may pay a fine and settle with regulators

据《华尔街日报》报道，Binance 首席战略官 Patrick Hillmann 在接受采访时表示，Binance 预计将支付罚款，以了结美国对其业务的现有监管和执法调查。 「Binance 发展迅速，一开始是由软件工程师推动的业务，他们不熟悉为应对贿赂和腐败、洗钱和经济制裁风险而制定的法律和规则。该公司一直在努力填补其早期合规工作中的漏洞，但仍然预计监管机构将对过去的行为进行罚款。

Binance is working with regulators to find out what remedies we now have to take to remedy this, which could be fines, it could be more... We don't know yet. It's up to the regulators. But Binance is very confident about the situation and very pleased with the progress."

Binance's status is basically considered an industry risk marker, and any regulatory move by Binance is directly reflected in the market.

As Patrick Hillmann points out, getting Binance out of the regulatory mire is the best news for the platform and the market.

USDT additional issue

Tether, the issuer of stablecoin, issued 1 billion USDT twice in one day on Tron network at 16:56 and 23:19 on February 13, Beijing time.

It's been a long time since we've had two new offerings in one day, and it's been a long time since we've had a pullback, but for the current market, increased liquidity is always a good thing.

Interest rate hikes may be over

Reversals of long-term trends do not happen quickly, and when long-term averages reverse, they do not stop easily.

Since November 30, Powell mentioned in his speech "do not want excessive tightening", indicating that the interest rate hike will slow down, the world's large capital expectations reversed, the U.S. stock market led the global market began to fight back. Macro researchers always like to study the Fed's balance sheet and fiscal data, but markets come from expectations, and speculative sentiment often runs ahead of real liquidity, or even ignores overall liquidity. Since December, the rebound in the crypto market has emerged in an endless series, starting with Bitcoin and Ethereum resonance small cap coins, promoting the overall turnover increase, institutional funds and speculative funds are very active, and funds are hungry for direction.

After the on-and-off speculation throughout late January and early February, the US CPI growth slowed down in January, in line with market expectations and once again strengthening market confidence. In the long run, the money-making effect of small funds centers on the theme, while big funds are more constrained by the overall liquidity, which refers to the four consecutive positive days, representing the confidence position of big funds on the reversal of long-term liquidity. The peak of US Treasury yields, the continuous inflow of A-share northbound funds, and the obvious loose monetary policy in China all represent the fundamental global consensus.

Money and confidence, such a market environment, Bitcoin this strong push is not surprising.

BLUR airdrop once again has a get-rich-quick effect

In the early hours of February 15, Blur, the NFT marketplace, launched its first coin after many delays, allowing users to open their boxes and get airdrops. According to Dune Analytics, a total of 325,837,849 BLUR airdrops have been collected from 89,009 addresses, representing approximately 90% of the total airdrops.

Separate data show that the highest claimants to BLUR airdrops received more than 3.2 million BLUR tokens, worth about $3.48 million based on the current price of about $1.09 per Token on the OKX market panel. The second and third claimants airdropped 2.97 million BLUR tokens and 2.5 million BLUR tokens, respectively. Although the second largest BLUR airdropped claimants have since transferred and sold nearly half of their airdropped tokens, this is still a considerable windfall from heaven at its sale price of 0.68.

The last time there was an airdrop enrichment effect was DYDX in September 2021.

Profit-taking flows into Bitcoin

While the global AI speculation, cryptocurrency is not missing the party. Not only AI concept into demon every day, including the new chain, LSD, ZK, Arbitrum concept plate rotation frequently. These profit-taking moves could also help the cryptocurrency spigot.

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