Crypto News
Bitcoin Surpasses $61,000 As New All Time High Approaches

Bitcoin surged past the $61,000 mark today, edging closer to a new all-time high as spot Bitcoin ETF inflows and investor enthusiasm continues to drive up prices. The milestone comes amid increasing interest in the Bitcoin market and growing adoption by institutional investors.
JUST IN: $61,000 #Bitcoin đĽđ pic.twitter.com/gMLqQ7inTf
â Bitcoin Magazine (@BitcoinMagazine) February 28, 2024
The latest rally in Bitcoin’s price reflects ongoing bullish sentiment among investors, fueled by factors such as increasing institutional adoption via spot Bitcoin ETFs, inflationary concerns, and growing mainstream acceptance of Bitcoin. This week in particular has been a record breaking week for the Bitcoin ETFs. Yesterday, BlackRock’s ETF took in over $520 million in inflows, which Bloomberg Senior ETF Analyst Eric Balchunas noted it was “the biggest haul for a BTC ETF ever.” BlackRock’s ETF has done around $1.3 billion in trading volume on each of the last two days.
Whoa.. $IBIT took in $520 million all by itself yest, biggest haul for a btc ETF ever and 2nd most of any ETF yesterday, only $IVV took in more cash.. it is now $8b in aum, top 5% among all ETFs. This means a good portion of that massive volume was new buying vs arb/algo. pic.twitter.com/tnq7SaN2di
â Eric Balchunas (@EricBalchunas) February 28, 2024
Yesterday, spot Bitcoin ETFs purchased 10,050 BTC currently worth $615 million. To put into context how much this is, the amount of new Bitcoin created by miners yesterday was only ~900 BTC. The ETFs appear to be buying up all the available BTC on the market, driving up the price. It is important to note that Bitcoin’s fourth halving is approaching, where the mining reward for creating new bitcoin will be cut in half from 6.25 BTC to 3.125 BTC per block.
Wow…
(Data from Feb. 27.; h/t to @HODL15Capital) pic.twitter.com/KvttRhHyAm
â Matt Hougan (@Matt_Hougan) February 28, 2024
Bitcoin has been on a steady upward trend since the beginning of the year, with its price nearly doubling from the start of 2024. At the time of writing, Bitcoin is less than $9,000 away from a new all time high. And with inflows for the Bitcoin ETFs showing no signs of slowing down, and with the halving coming, many market participants are wondering if Bitcoin will hit a new all time high before the halving for the first time ever.
â Bitcoin is now less then $9,000 away from making a new all time high.Â
Crypto News
Proton Wallet â Now Available To Everyone â Is A Great Starter Self-Custodial Bitcoin Wallet

In July of last year, Swiss privacy tech company Proton (makers of Proton Mail) announced it would be launching its own bitcoin wallet â Proton Wallet.
I (along with about 100,000 other users) was given early access to the wallet to test it out and was impressed with the walletâs user interface. I particularly liked that it allows you to link a userâs email address to their bitcoin address so that you only need to input the email address when sending bitcoin.
You can read my review of the wallet here.
Now that the wallet is available to the general public, I will recommend it to anyone I know whoâs finally ready to move their bitcoin out of the hands of an exchange and into their own custody. Iâll also recommend it to anyone looking to make semi-regular bitcoin payments on-chain with a relatively small amount of bitcoin.
My reasons for recommending the wallet are as follows:
- Itâs free to use (users can create up to three wallets and have up to three accounts in each wallet, which is sufficient for most users â more on that here; to create more wallets or accounts, Proton charges a fee)
- Itâs easy to set up (you arenât required to write down the 12-word seed phrase when you set up the wallet; however, itâs good practice to do so!)
- Like Proton Mail, Proton has no access to Proton Wallet user data, nor does it have access to its usersâ private bitcoin keys
- Using an email address (which doesnât have to be a Proton Mail address) to send bitcoin reduces the likelihood of inputting the wrong bitcoin address into the recipient field of a transaction
- You can select the priority speed of a transaction when sending bitcoin
- You can purchase bitcoin via Ramp or Banxa using Proton Wallet, enabling the bitcoin you purchase to be transferred directly into your custody
The only downsides to the wallet is that it doesnât support Lightning transactions (consider the Breez SDK, Proton team!), and it doesnât let you manage your UTXOs (loose change from bitcoin transactions, in layperson’s terms).
The latter isnât super important, though, as, again, Iâd recommend this wallet to those new to bitcoin self custody. UTXO management is more of a practice for moderate to advanced Bitcoin users.
All in all, Proton has created yet another fine product here for its 100 million users and counting, and itâs one that Iâll be recommending to Bitcoin newbies moving forward.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
â Proton Wallet is well-suited for anyone looking to begin their bitcoin self custody journey and/or anyone looking to make semi-frequent payments on-chain while managing a relatively small bitcoin stack.Â
Crypto News
El Salvador Is Still Bitcoin Country

El Salvador is still Bitcoin country, despite the fact that bitcoin is no longer legal tender in the country â at least from where Iâm sitting.
Letâs start with some background on the matter.
On January 29, 2025, the Legislative Assembly in El Salvador voted to remove bitcoinâs status as legal tender.
This means that businesses in the country no longer have to accept bitcoin (not that this rule was ever strictly enforced while bitcoin was classified as legal currency, as far as I know; however, I have been told that big businesses that operate in the country (e.g., McDonalds, Walmart) may stop accepting bitcoin as payment now, which could have a detrimental effect on adoption).
This change occurred approximately one month after the International Monetary Fund (IMF) struck a deal with authorities in El Salvador that stipulated the following:
- El Salvador would receive a $1.4 billion loan to support the governmentâs âreform agendaâ
- Bitcoin-related risks be mitigated; bitcoin acceptance in the private sector must be voluntary, while the public sectorâs participation in Bitcoin-related activities would be âconfinedâ (bitcoin can no longer be used to settle government debts or pay taxes)
- Operations for the government-created Bitcoin wallet, Chivo, would be âunwoundâ
While the news of the Salvadoran governmentâs reversing its policy on bitcoin as legal tender as a result of influence from the IMF feels like a gut punch even to me, someone who isnât Salvadoran and doesnât live in the country, I canât help but believe that El Salvador is still Bitcoin country.
And this feeling has only grown stronger based on what Iâve seen Bitcoiners in El Salvador posting on X.
Evelyn Lemus, co-founder and Director of Education at Bitcoin Berlin, a Bitcoin circular economy within the country, doesnât plan to stop teaching everyday Salvadorans about Bitcoin.
Just saying it out loud.
Bitcoiners will not stop teaching about Bitcoin and making the adoption happen just because Bitcoin is not legal tender anymore. This means we need to keep pushing harder and keep doing what we do đ¸đť
LFGđ
Bitcoin in the hands of people 𫡠pic.twitter.com/hnMpJmL5c7â Evelyn Lemus (@Evelynlemus2906) February 2, 2025
The team at Bit Driver donât plan to change their business model â accepting bitcoin as taxi fare â any time soon.
We’re still a Bitcoin a company.
â Bitdriver (@bitdriver_sv) February 2, 2025
While John Dennehy, founder of Mi Primer Bitcoin, expressed concern about the government of El Salvadorâs rolling back its policy on bitcoin as legal currency, he and the ever-growing team at Mi Primer Bitcoin plan to double down on the work theyâre doing.
Good morning from El Salvador!
We are now in DAY NINE since the government rescinded Bitcoin as legal tender, at the request of the IMF (effective after 90 days)
This means grassroots, independent Bitcoin education is now MORE important than ever
In response, at⌠pic.twitter.com/iTXdf0gAoL
â John Dennehy (@jdennehy_writes) February 7, 2025
The legendary Max and Stacy havenât publicly voiced any plans to give up on El Salvador anytime soon.
And El Salvadorâs Bitcoin Office, run by Stacy, is still stacking bitcoin and helping to run Bitcoin education programs in the country.
đ¸đťEL SALVADOR STACKS ANOTHER 1 BTC TO STRATEGIC RESERVE
El Salvador is still stacking.
Every day.
âĄď¸Total SBR Holdings: 6,071.18 BTC
âĄď¸Total Added Today: +1 BTC
âĄď¸Total Added Past 7 Days: +22 BTC
âĄď¸Total Added Past 30 Days: +60 BTC⌠pic.twitter.com/y4kv2693BXâ The Bitcoin Office (@bitcoinofficesv) February 7, 2025
The lesson here is that while the law around Bitcoin may have changed in El Salvador, the Bitcoiners on the ground in the country have hardly flinched.
Because we are Bitcoin, what matters most is that everyday Salvadorans and everyone else involved in the Bitcoin movement in El Salvador continues to push forward with the Bitcoin mission.
The IMF may have landed a blow, but Bitcoiners in El Salvador remain steadfast in their efforts to foster broader Bitcoin adoption.
El Salvador is still Bitcoin country.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
â Bitcoin may no longer be legal tender in El Salvador, but Bitcoiners in the country haven’t given up on the mission.Â
Crypto News
Introducing the Bitcoin Everything Indicator

Wouldnât it be great if we had one all-encompassing metric to guide our Bitcoin investing decisions? Thatâs precisely what has been created, the Bitcoin Everything Indicator. Recently added to Bitcoin Magazine Pro, this indicator aims to consolidate multiple metrics into a single framework, making Bitcoin analysis and investment decision-making more streamlined.
For a more in-depth look into this topic, check out a recent YouTube video here:Â The Official Bitcoin EVERYTHING Indicator
Why We Need a Comprehensive Indicator
Investors and analysts typically rely on various metrics, such as on-chain data, technical analysis, and derivative charts. However, focusing too much on one aspect can lead to an incomplete understanding of Bitcoinâs price movements. The Bitcoin Everything Indicator attempts to solve this by integrating key components into one clear metric.
View Live Chart đ
The Core Components of the Bitcoin Everything Indicator
Bitcoin’s price action is deeply influenced by global liquidity cycles, making macroeconomic conditions a fundamental pillar of this indicator. The correlation between Bitcoin and broader financial markets, especially in terms of Global M2 money supply, is clear. When liquidity expands, Bitcoin typically appreciates.
View Live Chart đ
Fundamental factors like Bitcoinâs halving cycles and miner strength play an essential role in its valuation. While halvings decrease new Bitcoin supply, their impact on price appreciation has diminished as over 94% of Bitcoinâs total supply is already in circulation. However, miner profitability remains crucial. The Puell Multiple, which measures miner revenue relative to historical averages, provides insights into market cycles. Historically, when miner profitability is strong, Bitcoin tends to be in a favorable position.
View Live Chart đ
On-chain indicators help assess Bitcoin’s supply and demand dynamics. The MVRV Z-Score, for example, compares Bitcoinâs market cap to its realized cap (average purchase price of all coins). This metric identifies accumulation and distribution zones, highlighting when Bitcoin is overvalued or undervalued.
View Live Chart đ
Another critical on-chain metric is the Spent Output Profit Ratio (SOPR), which examines the profitability of coins being spent. When Bitcoin holders realize massive profits, it often signals a market peak, whereas high losses indicate a market bottom.
View Live Chart đ
The Bitcoin Crosby Ratio is a technical metric that assesses Bitcoinâs overextended or discounted conditions purely based on price action. This ensures that market sentiment and momentum are also accounted for in the Bitcoin Everything Indicator.
View Live Chart đ
Network usage can offer vital clues about Bitcoinâs strength. The Active Address Sentiment Indicator measures the percentage change in active addresses over 28 days. A rise in active addresses generally confirms a bullish trend, while stagnation or decline may signal price weakness.
View Live Chart đ
How the Bitcoin Everything Indicator Works
By blending these various metrics, the Bitcoin Everything Indicator ensures that no single factor is given undue weight. Unlike models that rely too heavily on specific signals, such as the MVRV Z-Score or the Pi Cycle Top, this indicator distributes influence equally across multiple categories. This prevents overfitting and allows the model to adapt to changing market conditions.
Historical Performance vs. Buy-and-Hold Strategy
One of the most striking findings is that the Bitcoin Everything Indicator has outperformed a simple buy-and-hold strategy since Bitcoin was valued at under $6. Using a strategy of accumulating Bitcoin during oversold conditions and gradually selling in overbought zones, investors using this model would have significantly increased their portfolio’s performance with lower drawdowns.
For instance, this model maintains a 20% drawdown compared to the 60-90% declines typically seen in Bitcoinâs history. This suggests that a well-balanced, data-driven approach can help investors make more informed decisions with reduced downside risk.
Conclusion
The Bitcoin Everything Indicator simplifies investing by merging the most critical aspects influencing Bitcoinâs price action into a single metric. It has historically outperformed buy-and-hold strategies while mitigating risk, making it a valuable tool for both retail and institutional investors.
For more detailed Bitcoin analysis and to access advanced features like live charts, personalized indicator alerts, and in-depth industry reports, check out Bitcoin Magazine Pro.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.
â A Single Metric to Rule Them All â The Bitcoin Everything Indicator combines multiple key metrics into one comprehensive tool for better investment decisions.Â
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