Bitcoin
Whale buys 2,000 Bitcoin in 4 days, now holds $490m in BTC
Published
2 months agoon
By
adminA significant Bitcoin transaction was recorded on Sept. 2 when an investor purchased 1,000 BTC for $57.3 million.
This whale purchase marks the second time in four days that 1,000 Bitcoin (BTC) were acquired on Binance, bringing the total accumulation to 2,000 BTC. The investor currently holds 8,559 BTC, valued at $490 million.
The increase in Bitcoin holdings coincides with Bitcoin’s price dropping by nearly 8% over the past week as the markets enter September. Bitcoin briefly touched $61,000 on August 29 before slumping and almost touching $57,000 on Sept. 1.
Historically, Bitcoin has experienced losses in six out of the last seven September months, with average losses of around 4.5% during those years.
Will the Fed cut interest rates?
Despite this downward trend, an anticipated Federal Reserve rate cut could trigger a Bitcoin rally, according to QCP. Rising Bitcoin dominance, declining crypto exchange balances, and strong market fundamentals are positioning Bitcoin for a potentially bullish phase ahead.
On the flip side, Bitfinex analysts caution that Bitcoin may experience a significant decline of up to 20% due to uncertainty surrounding the Federal Reserve’s upcoming interest rate decision.
While a 25 basis point cut by the Fed could lead to long-term gains for Bitcoin by increasing liquidity, a more aggressive 50 basis point cut might trigger an initial price spike followed by a correction as recession fears grow.
Will Bitcoin bounce back?
The amount of Bitcoin held on exchanges dropped to its lowest level this year, signaling low market liquidity and reduced investor movement of coins.
This could lead to a Bitcoin bounce. Other potential catalysts for Bitcoin’s growth include a weakening US dollar, rising US public debt, and positive signals from the options market, which could push the price higher later this year.
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Bitcoin
Bitcoin (BTC) Price Hits $76K as Crypto Liquidations Soar, Coinbase (COIN) Rockets 30% Higher on Trump Sweep
Published
7 hours agoon
November 7, 2024By
admin“It’s hard to think how the election outcome could have landed better for the industry, and expectations of key regulatory improvements are likely to build in the coming months and quarters,” David Lawant, head of research at crypto prime brokerage FalconX, said in a Wednesday report. “Such clarity could open room for additional crypto ETF products, covering the main crypto assets and potentially also a broader crypto index, and give entrepreneurs and investors more comfort in U.S. token launches.” However, Lawant warned of short-term risks in the meanwhile, which may include “last-minute enforcement actions by departing officials.”
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Bitcoin
Trump victory creates over 11k new Bitcoin millionaires
Published
7 hours agoon
November 7, 2024By
adminDonald Trump’s 2024 election victory has created over 11,000 new Bitcoin millionaires.
According to data from Finbold, the number of Bitcoin wallets valued at $1 million or more rose to 132,842 on November 6, as Bitcoin prices increased by 7.8% in just 24 hours.
Last month, there were 121,061 Bitcoin addresses worth over $1 million. This figure has now grown by 11,487 wallets, indicating significant wealth gains among Bitcoin holders, per Finbold.
At the time of writing, Bitcoin (BTC) has passed its all-time high and is currently trading at $75, 428.
Can Bitcoin go higher?
This spike follows a strong month for Bitcoin, which has risen 20% over the past 30 days. With Trump’s win and an overwhelming lead in the electoral college, Bitcoin saw renewed interest and broke past previous high prices.
Analysts suggest that Trump’s pro-crypto stance might lead to a supportive regulatory shift, potentially boosting market conditions. Technical analyst Gert van Lagen predicts Bitcoin could reach $250,000 by early next year.
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Altcoins
Solana Overtakes BNB To Claim Coveted 4th Spot In Crypto Ranks
Published
11 hours agoon
November 6, 2024By
adminThey say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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