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Swiss National Bank (SNB) President Martin Schlegel has rejected the idea of holding bitcoin as part of Switzerland’s central bank reserves, citing a lack of stability, liquidity, and security, according to local media.Speaking to the Tamedia group, Schlegel cited three primary concerns surrounding cryptocurrencies. The first one is their volatility, which he said makes them unsuitable for long-term value preservation.See all newsletters“Second, our reserves need to be highly liquid so that they can be used quickly for monetary policy purposes if needed,” Schlegel told Tamedia before pointing to a lack of security inherent in being software-based assets. “We all know that software can have bugs and other weak points.”The Swiss National Bank President’s words come amid a growing debate in Switzerland over the nascent asset class. A recent initiative is pushing for a constitutional amendment requiring the SNB to hold bitcoin in its reserves alongside gold, the article said.The initiative, launched in December and led by entrepreneur Yves Bennaim, does not go into details when it comes to the bitcoin allocations but specifies it should be built up from the bank’s earnings. It has 18 months to collect 100,000 signatures in a bid to trigger a nationwide vote on the topic.Despite Switzerland’s growing acceptance of cryptocurrencies, with various Swiss banks offering customers cryptocurrency-related services, Schlegel dismissed the asset class as a “niche phenomenon.” Currencies, he told Tamedia, have already been in competition, and Schlegel maintained the bank is “not afraid of competition from cryptocurrencies,” citing the continued strength of the Swiss franc.

Short term candlestick chart shows that BTC has rebounded significantly from yesterday's low point and is currently stabilizing above 85000. The K-line combination shows that the bullish power is gradually strengthening, but it is worth noting that the 90 minute K-line high on March 2nd has shown signs of repeated probing. At the critical position, the current main force is actively buying large orders, and the bulls are working hard to build support. It is expected that 85000 will be an important milestone in the short term. At the same time, retail investors still need to be alert to the possibility of selling large orders and rebounding, in order to avoid being passively trapped in adjustment risks. Do you want to keep up with market trends? Quickly identify the movement of main funds? Open our membership now and enjoy real-time and accurate tracking of fund flows! The data is sourced from the PRO member's [BTC/USDT Binance 90 minute] candlestick, for reference only, and does not constitute any investment advice.

Spot bitcoin exchange-traded funds (ETFs) in the U.S. saw $94.3 million of total inflows on the last day of February as crypto's worst month in three years came to an end. See all newslettersThe figure capped an eight-day streak of outflow during which investors pulled over $3.2 billion from these funds as digital asset prices fell. BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot bitcoin ETF by assets under management, was one of the outliers that saw $244.6 million in outflows on Friday. Meanwhile, other large ETFs, including Fidelity’s FBTC, brought in $176 million from investors, while the ARK 21Shares Bitcoin ETF saw the largest inflows, bringing in $193.7 million, according to Farside Investors data.The inflows came as the cryptocurrency market started showing signs of recovery after the price of bitcoin hit a $78,000 low in the early hours of Feb. 28. Bitcoin is now trading around $84,900 after rising 1.6% in the last 24 hours, while the broader CoinDesk 20 Index rose 0.3% to 2,705.Over the past week, BTC is still down by roughly 12%, while the broader crypto market, as measured by the CoinDesk 20 Index, fell by 15.8%. Spot bitcoin ETFs had been enduring a significant outflow streak since Feb. 14, a day in which these funds saw $66.2 million inflows.Spot ether ETFs, on the other hand, have maintained an ongoing outflow streak on the last day of February, with $41.9 million leaving these funds. Since their last day with a positive net flow, $357.5 million exited these funds, according to data from Farside.The recent market recovery comes as the White House announced that U.S. President Donald Trump will host a crypto summit on March 7 and after the world’s largest asset manager, BlackRock, added a 1% to 2% allocation of its spot bitcoin ETF to one of its model portfolios.BlackRock's Bitcoin ETF Sees Record Daily Outflow as the Basis Trade Starts to Unwind

BlockBeats news, on March 1st, Ethereum co-founder Vitalik Buterin posted that "by 2025, we need the Fusaka upgrade plan to use PeerDAS on L1, ideally with a blob target/limit of 48/72. Our goal is to run the Fusaka testnet with these blob parameters on the second day after Pectra goes live

According to BlockBeats, on March 1st, Danny Ryan posted on social media that he has joined Etherealize, an Ethereum ecosystem business expansion and marketing company, as a co-founder. On September 14, 2024, Danny Ryan, a researcher at the Ethereum Foundation, announced his resignation.