Bitcoin experienced a large correction last week, closing down about 25% from it’s all-time high. This week, price has begun to recover and has broken the key 50% retracement level.

Bitcoin made a new all-time high this week with a trading range of $1610-1868, according to the BLX. Volume continues to flow heavily from the Coinbase fiat on-ramp. Network Hashrate continues to make all-time highs as well with successive difficulty adjustments, currently at just over 4 billion GH/s. Difficulty has increased 59.08% year to date, the most recent adjustment being the largest since February 4th.

Bitcoin made another large leg up this week from ~$1333 to 1628, according to the BLX, which was led by a >$100 premium on Bitfinex. There was also a large influx of volume on Coinbase and GDAX, suggesting a large quantity of new or existing users on-ramping through a fiat gateway. Network Hashrate is currently unchanged from last week, having increased 51.58% year to date, but is slated for a 5.54% increase this week.

Bitcoin has been trading between ~$1190-1330 this week, according to the BLX, on steady bullish volume. Total Network Hashrate continues to make all-time highs, despite the ongoing block size and scaling debates. Network Hashrate is currently unchanged from last week, having increased 51.58% year to date.

Bitcoin has been trading between ~$1075-1200 this week, according to the BLX, on heavy bullish momentum. Total Network Hashrate continues to make all-time highs, despite the ongoing scaling debate. The Network Hashrate is set for a 4.51% rise on about April 12th, increasing 51.89% year to date.

Bitcoin has been trading between $940-1060 this week, according to the BLX, on low volume of a consolidating nature. The Network Hashrate gained 5.03% on March 30th, and has increased 47.34% year to date.

Bitcoin has been trading between $1114-887 this week, according to the BLX, in extremely volatile market conditions with intense bearish momentum. The Network Hashrate gained 3.24% on March 3rd, and has increased 42.48% year to date.

The U.S. Securities and Exchange Commission (SEC) made history on Friday by[ disapproving](https://www.sec.gov/rules/sro/batsbzx/2017/34-80206.pdf) the Bats BZX Exchange filing to list and trade shares of the Winklevoss Bitcoin Trust. The shares, representing 0.01 BTC, would have tracked the price of bitcoins on the Gemini Exchange. The digital-asset exchange is owned and operated by the Gemini Trust Company, which would have owned the equivalent share value in bitcoins.

Everything fundamental this week takes a back seat to the COIN ETF decision. Bitcoin has been trading between $1134-1292, according to $BLX, up 72% from the low established on January 12th, 2017. The Network Hashrate gained 4.5% on March 3rd, adding 39.07% year to date.

With the deadline on March 11th for a Securities and Exchange Commission (SEC) decision on the COIN exchange-traded fund (ETF) quickly approaching, US Dollar demand continues to drive bitcoin higher. A recent outage on GDAX, one of the few bitcoin exchanges accepting USD customers, did not dampen the rally and suggests a high amount of traffic to the site. Although the ETF would likely increase bitcoin price long-term, traders may “buy the rumor, sell the news.” Three similar events illustrate how the market has previously reacted.

As price has breached all-time-highs (ATH) today, there are some rumblings that the hacked coins from Bitfinex were entering exchanges, which is largely false. Coins that have not moved since the 27th of January, which includes 2,072 transactions and ~118,880BTC, have remained stagnant. Coins which were spent on the 27th of January, including 196 transactions and ~876BTC, continue to move to various locations across the blockchain.