theanh123 (@theanh123) • Hey
theanh123 (@theanh123) • Hey
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https://zora.co/collect/base:0x1c48c354bc9373208f7767688e9c4a001fac16cf/1?referrer=0x388Df70542101C3230edc3b744FC38796A5Dc4ca
- Here Are The Major Drivers Behind The Bitcoin Price Recovery Above $ 42,000Bitcoin recently surged above $ 42,000, having traded below $ 40,000 for several days. This market recovery is believed to be a result of different factors, including recent revelations about the US economy.
Macroeconomic Factors That Contributed To The Recent Bitcoin Surge
The personal income expenditures (PCE) price index, a leading inflation indicator, was released on January 26 and reported to have been lower than expectations. This suggests that inflation in the United States is cooling off, and experts predict that the Federal Reserve will likely reduce their aggressive monetary policies.
The Fed’s hawkish stance is known to have a negative effect on Bitcoin’s price and the broader crypto market. As such, this recent development is a positive one and is something that could have influenced investors to double down on their investments in the flagship cryptocurrency, thereby sparking a price surge
Meanwhile, data from the US Treasury recently showed that the country has hit an all-time debt of $ 34,1 trillion. While this has raised concerns about the looming crash of the US dollar, it has also presented Bitcoin and other cryptocurrencies as a haven to hedge against the potential devaluation of the nation’s currency.
Interestingly, different financial analysts, including renowned economist Peter Schiff, have continued to predict the imminent crash of the US dollar. In light of this, finance author Robert Kiyosaki has urged everyone to invest in Bitcoin to avoid becoming poorer due to the government’s actions.
Another factor believed to have contributed to Bitcoin’s recent surge is the expiration of monthly BTC options contracts on Deribit. The expiry outcome more than likely played a crucial role in Bitcoin’s rally, considering that CryptoQuant CEO Ki Young Ju had pinpointed the derivatives market as responsible for Bitcoin’s recent decline.
GBTC’s Outflow Slows For The Fourth Consecutive Day
Grayscale’s GBTC saw an outflow of just $ 255.1 million on January 26, continuing a recent trend of reduced outflows from the fund. NewsBTC reported how the Bitcoin ETF had seen outflows of $ 515 million, $ 429 million, and $ 394 million on January 23, 24, and 25, respectively.
As noted by Bloomberg analyst James Seyffart, January 26 also happened to be the lowest outflow day for GBTC since converting to a Spot Bitcoin ETF. This development suggests that the fund’s investors may be cooling off on taking profits. It is also significant because Grayscale has contributed to the selling pressure that has plagued Bitcoin of late.
At the time of writing, Bitcoin is trading at around $ 41,700, up over 4% in the last 24 hours according to data from CoinMarketCap.
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- Orbiter Finance 👀
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In 2023, we successfully completed a Series A round, led by OKX Ventures with participation from Redpoint China, Hash Global, Skyland Ventures, Mask Network, Bas1s Ventures, Zonff Partners, etc.
This achievement builds on the momentum gained from securing investments in 2022 from esteemed backers like Tiger Global Management and Matrixport.
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Token Launch: In appreciation of our devoted community, we are thrilled to confirm the launch of our native token this year. We’ll gradually unveil the tokenomics and distribution plan, ensuring a fair process. The O-Points Program will play a crucial role in shaping our airdrop rules. Stay tuned for exciting rewards and opportunities.
https://orbiter-finance.medium.com/2023-2024-highlights-hope-and-heralding-success-7258135d93e5
more information 👇
https://www.orbiter.finance/home
- GM / おはよう frens. Excited to on board ¥u-Gi-¥n to our line-up 💎 - a Cyberpunk Tokyo-inspired futuristic collection 🌃 🚀
⚡️Connect your ¥u-Gi-¥n in Phaver & start earning Phaver Cred⚡️
👉 3X points boost (to 45) is live from today for 30 days 🔥
Keep Phavering 💜
- GM / おはよう frens. Excited to on board ¥u-Gi-¥n to our line-up 💎 - a Cyberpunk Tokyo-inspired futuristic collection 🌃 🚀
⚡️Connect your ¥u-Gi-¥n in Phaver & start earning Phaver Cred⚡️
👉 3X points boost (to 45) is live from today for 30 days 🔥
Keep Phavering 💜
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- Mystery Wallet Rockets to Top 10 Bitcoin Holders With 8,888 BTC New Year’s GainA bitcoin wallet, believed to be linked to Tether, the leading stablecoin issuer, has ascended to become the tenth largest holder of bitcoin. This elevation occurred after an accrual of 8,888 bitcoin from Bitfinex as the year concluded. Presently, the wallet’s holdings total around 66,465.20 bitcoin, with a value nearing $ 3 billion at existing exchange rates.Bitcoin’s New Whale: Mystery Wallet Witnesses Year-End Windfall
In the last 72 hours, a wallet potentially linked to Tether has once again captured attention. Bitcoin.com News reported on this particular wallet on Aug. 5, 2023, noting its status as the 11th largest bitcoin wallet.
At that juncture, a 21.co research analyst posited that the wallet might be associated with Tether, correlating with the stablecoin issuer’s financial attestations. Tether had previously acknowledged holding bitcoin as part of its assets, yet it hadn’t publicly shared any specific wallet address.
After this initial report, Cryptoquant, a blockchain analytics firm, raised doubts about the wallet’s connection to Tether. 145 days later, on December 31, 2023, a significant sum of 8,888.88 BTC was transferred to the wallet, identified as “bc1qj
The bitcoin, like all previous deposits to this wallet since its creation, originated from Bitfinex. This consistent pattern of deposits from Bitfinex further fuels speculation that the wallet might be owned by Tether.
Now ranked as the tenth largest, the wallet surpasses the 11th largest, which possesses 59,300 BTC. Observers including Wu Blockchain and the X account The Data Nerd, noted the transfer of 8,888 BTC.
“On behalf of [the] new year, a whale (related to Tether) bought 8,888 BTC ($ 379M) at $ 42,641, 8 hours ago,” The Data Nerd wrote. “Someone is very hungry for BTC,” an individual replied to the X post.
Both X accounts have noted that the tenth largest bitcoin whale boasts unrealized profits exceeding a billion, with an average entry point of around $ 25K. Currently, Bitfinex, the exchange behind the 8,888 BTC transfer, also maintains the second-largest BTC wallet, valued at close to $ 10 billion.
This wallet, identified as “bc1qg“, contains roughly 210,010 BTC, equivalent to $ 9.43 billion at prevailing exchange rates. The last outward transaction from “bc1qg” occurred on March 3, 2023, and the cold wallet recently added 20,000 BTC to its reserves on Dec. 16, 2023.Now the wallet that sent the funds to the tenth largest mystery wallet known as “1Kr6Q” has received a whopping 140,562,980 BTC since its creation seven years ago. The wallet has spent 140,562,190 BTC and today, at least at the time of publication, this address owned by Bitfinex is a hot wallet and it currently holds 790 BTC worth $ 35.69 million.
The rapid ascent of the tenth largest wallet, amidst swirling rumors and substantial transactions, underscores the secretive nature of large-scale bitcoin holdings. Without explicit verification from the firm itself, there remains no definitive way to confirm that this wallet is indeed owned by Tether.
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