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Jan3 CEO: Bitcoin Price May Be ‘Artificially’ Suppressed
Samson Mow, CEO of bitcoin wallet company Jan3 and founder of Pixelmatic, warned at the Consensus Hong Kong cryptocurrency conference that the price of bitcoin could be ‘artificially’ suppressed. Although retail buyers are buying Bitcoin on a fixed basis, there appears to be selling pressure, ‘While both institutional and retail buyers are increasing their holdings of Bitcoin, the price of Bitcoin isn't going up, so there must be people selling,’ said Mow, adding that last year the market saw structural sellers due to bankruptcies and restructurings, but that period has largely come to an end. Additionally, FTX's payoff process has fuelled selling pressure. The company is basing its repayments on a November 2022 price of around $20,000 for bitcoin. As creditors try to realise profits, which could lead to more selling, FTX is selling bitcoin at a much lower price, which could explain the lack of upward momentum in the bitcoin price.
Samson Mow, CEO of bitcoin wallet company Jan3 and founder of Pixelmatic, warned at the Consensus Hong Kong cryptocurrency conference that the price of bitcoin could be ‘artificially’ suppressed. Although retail buyers are buying Bitcoin on a fixed basis, there appears to be selling pressure, ‘While both institutional and retail buyers are increasing their holdings of Bitcoin, the price of Bitcoin isn't going up, so there must be people selling,’ said Mow, adding that last year the market saw structural sellers due to bankruptcies and restructurings, but that period has largely come to an end. Additionally, FTX's payoff process has fuelled selling pressure. The company is basing its repayments on a November 2022 price of around $20,000 for bitcoin. As creditors try to realise profits, which could lead to more selling, FTX is selling bitcoin at a much lower price, which could explain the lack of upward momentum in the bitcoin price.
One month after taking office, the ‘Trump trade’ is starting to be discarded by traders as the crypto craze fades
Feb. 20 (Bloomberg) -- A month into Donald Trump's second term, the euphoria over everything from stocks to the U.S. dollar to bitcoin is fading, according to Golden Ten. Previously Crypto assets soared as the industry backed Trump, who promised to create a friendlier regulatory environment. But those gains have waned as there haven't been many new developments to continue the bullish sentiment. For example, Trump's campaign promise to create a national bitcoin reserve has yet to materialise, with White House crypto and artificial intelligence chief David Sacks saying this month that an internal working group would need to look into the feasibility of the plan. Bitcoin rose about 50 per cent in the two months after the election. But since reaching a high of more than $100,000 in January, it had fallen to near $97,000 as of Thursday. Scandals involving cryptocurrencies such as Libra have also weakened investor interest in cryptocurrencies, with Matthew Hougan, chief investment officer at Bitwise, saying, ‘There's a very negative vibe in the cryptocurrency market right now.’
Feb. 20 (Bloomberg) -- A month into Donald Trump's second term, the euphoria over everything from stocks to the U.S. dollar to bitcoin is fading, according to Golden Ten. Previously Crypto assets soared as the industry backed Trump, who promised to create a friendlier regulatory environment. But those gains have waned as there haven't been many new developments to continue the bullish sentiment. For example, Trump's campaign promise to create a national bitcoin reserve has yet to materialise, with White House crypto and artificial intelligence chief David Sacks saying this month that an internal working group would need to look into the feasibility of the plan. Bitcoin rose about 50 per cent in the two months after the election. But since reaching a high of more than $100,000 in January, it had fallen to near $97,000 as of Thursday. Scandals involving cryptocurrencies such as Libra have also weakened investor interest in cryptocurrencies, with Matthew Hougan, chief investment officer at Bitwise, saying, ‘There's a very negative vibe in the cryptocurrency market right now.’
FxPro Analyst: Crypto Markets Not Yet Attracting Low Buyers and Counter-Trend Traders
With the U.S. Bitcoin ETF seeing net outflows last week for the first time since early January, the closely watched Cryptocurrency Fear and Greed Index has moved into ‘fear’ territory, down sharply from its peak in November last year, which is an indirect signal that the relatively stable performance of the market is dampening sentiment, according to FxPro's Chief Market Analyst Alex Kuptsikevich. Alex Kuptsikevich, chief market analyst at FxPro, says this is an indirect signal that the relative stability of the market is dampening investor sentiment. Most worryingly, the market has yet to attract low buyers and counter-trend traders at current sentiment and market capitalisation levels. Technical analysis of Bitcoin is said to indicate the possibility of a so-called ‘death cross’, where the short-term trend line breaks below the long-term trend line, which some fear could signal a sharp drop in the price of Bitcoin. Bitcoin price once crossed the $100,000 mark after Trump's election victory, but is currently stagnating below that key level.
With the U.S. Bitcoin ETF seeing net outflows last week for the first time since early January, the closely watched Cryptocurrency Fear and Greed Index has moved into ‘fear’ territory, down sharply from its peak in November last year, which is an indirect signal that the relatively stable performance of the market is dampening sentiment, according to FxPro's Chief Market Analyst Alex Kuptsikevich. Alex Kuptsikevich, chief market analyst at FxPro, says this is an indirect signal that the relative stability of the market is dampening investor sentiment. Most worryingly, the market has yet to attract low buyers and counter-trend traders at current sentiment and market capitalisation levels. Technical analysis of Bitcoin is said to indicate the possibility of a so-called ‘death cross’, where the short-term trend line breaks below the long-term trend line, which some fear could signal a sharp drop in the price of Bitcoin. Bitcoin price once crossed the $100,000 mark after Trump's election victory, but is currently stagnating below that key level.
Initial Jobless Claims Slightly Higher Than Expected
Golden Ten Data, 20 February, the United States to the week of 15 February initial jobless claims recorded 219,000, the market expected 215,000 people.
Golden Ten Data, 20 February, the United States to the week of 15 February initial jobless claims recorded 219,000, the market expected 215,000 people.
In order to receive the airdrop users have to pay 0.0015 ETH on-chain fee
As monitored by Imk.fun, on-chain transactions show that in order to claim the KAITO airdrop, users need to pay a fixed fee of 0.0015 ETH ($4.1). This may be a service fee for tokentable.
So far, 36 ETH ($98,800) have been collected and growing.
As monitored by Imk.fun, on-chain transactions show that in order to claim the KAITO airdrop, users need to pay a fixed fee of 0.0015 ETH ($4.1). This may be a service fee for tokentable.
So far, 36 ETH ($98,800) have been collected and growing.
Bitcoin Rises Slightly as Investors Digest Fed's Inflation Fears
Feb. 20 (Bloomberg) -- Bitcoin has risen slightly over the past 24 hours to a total market capitalisation of just over $3.3 trillion as investors digest the Federal Reserve's cautious stance on inflation and interest rate policy, according to TheBlock. ‘Market participants should pay close attention to the Fed's policy direction, as these events may affect liquidity and investor sentiment, as the ability of Bitcoin to maintain support at $92,500 will be important in determining the Fed's policy direction as these events could impact liquidity and investor sentiment, as Bitcoin's ability to maintain support at $92,500 will be critical in determining its near-term trend.’
Feb. 20 (Bloomberg) -- Bitcoin has risen slightly over the past 24 hours to a total market capitalisation of just over $3.3 trillion as investors digest the Federal Reserve's cautious stance on inflation and interest rate policy, according to TheBlock. ‘Market participants should pay close attention to the Fed's policy direction, as these events may affect liquidity and investor sentiment, as the ability of Bitcoin to maintain support at $92,500 will be important in determining the Fed's policy direction as these events could impact liquidity and investor sentiment, as Bitcoin's ability to maintain support at $92,500 will be critical in determining its near-term trend.’
U.S. Treasury Secretary Reiterates Fed's September Rate Cut Was Too Big
I have breakfast with Fed Chairman Powell every week and saw him yesterday, says US Treasury Secretary Bessent, according to Golden Ten.
U.S. Treasury Secretary Bessent reiterated that the Fed's September rate cut was too large.
I have breakfast with Fed Chairman Powell every week and saw him yesterday, says US Treasury Secretary Bessent, according to Golden Ten.
U.S. Treasury Secretary Bessent reiterated that the Fed's September rate cut was too large.
A giant whale transfers 8.6 million OMs worth $63 million to CEX that have been held for over 10 months
A whale transferred 8.6 million OMs worth $63 million to CEX for a massive profit of $56.85 million after 10 months of silence, according to monitoring by Onchain Lens, which still holds 69,681 OMs in the whale's wallet.
A whale transferred 8.6 million OMs worth $63 million to CEX for a massive profit of $56.85 million after 10 months of silence, according to monitoring by Onchain Lens, which still holds 69,681 OMs in the whale's wallet.
Bitcoin's ability to maintain support at $92,500 will be critical as investors digest the Fed's inflation concerns.
Bitcoin has seen modest gains over the past 24 hours as investors digest the Federal Reserve's cautious stance on inflation and interest rate policy, with a total market capitalisation of just over $3.3 trillion, according to TheBlock.
Iliya Kalchev, analyst at Nexo Dispatch, said, ‘Market participants should keep a close eye on the Fed's policy direction as these events could impact liquidity and investor sentiment, as Bitcoin's ability to maintain the $92,500 support level will be crucial in determining its near-term trend. ’
Bitcoin has seen modest gains over the past 24 hours as investors digest the Federal Reserve's cautious stance on inflation and interest rate policy, with a total market capitalisation of just over $3.3 trillion, according to TheBlock.
Iliya Kalchev, analyst at Nexo Dispatch, said, ‘Market participants should keep a close eye on the Fed's policy direction as these events could impact liquidity and investor sentiment, as Bitcoin's ability to maintain the $92,500 support level will be crucial in determining its near-term trend. ’
U.S. Treasury Secretary Besant: no idea of stockpiling gold for sovereign funds
On 20 February, US Treasury Secretary Ben Bassett said there was no idea of stockpiling gold for sovereign funds, and it was unfortunate that the efforts of the ‘Department of Government Efficiency’ had been derided, according to Golden Ten, who reportedly made his remarks at a time when the US 2-year and 30-year yield curves were flattening.
On 20 February, US Treasury Secretary Ben Bassett said there was no idea of stockpiling gold for sovereign funds, and it was unfortunate that the efforts of the ‘Department of Government Efficiency’ had been derided, according to Golden Ten, who reportedly made his remarks at a time when the US 2-year and 30-year yield curves were flattening.