News Briefs

Michael Saylor, co-founder and former CEO of MicroStrategy, stated in an interview with Barstool Sports founder Dave Portnoy that he plans to continue purchasing Bitcoin as part of the company’s strategic reserve.

According to data from SoSoValue, the crypto market experienced a broad pullback with an average decline of 10%.

Michael Saylor, the founder and executive chairman of MicroStrategy, has made a bold suggestion during a recent interview as part of a strategic discussion on Bitcoin reserves.

NFT sales witnessed a significant boost in November, surging by nearly 63% to reach a total of $588 million.

A recent report reveals that more than 400 million wallet addresses currently hold cryptocurrency.

As Ethereum surpasses the $4,000 mark, an anonymous cryptocurrency analyst and venture capital founder, Venturefounder, suggests the digital asset is consolidating within a three-year ascending triangle pattern, nearing a potential “paradigm shift.”

Analysts have noted that after BTC surpassed the $100,000 mark, long-term Bitcoin holders (LTH) began taking profits.

Geoff Kendrick, Head of Global Digital Asset Research at Standard Chartered Bank, stated in a report that Bitcoin’s capital flow this year has been largely driven by institutional investors, a trend that is expected to continue.

Bitcoin has continued its upward momentum, surpassing the $100,000 mark. A significant portion of the demand driving Bitcoin’s price increase has recently flowed into Bitcoin ETFs.

JPMorgan global market strategist Jack Manley and research analyst Sahil Gopal have released a report titled “Is Cryptocurrency Worth a Place in Portfolio Construction?”

In November, cryptocurrency trading volume soared to an all-time high, with the combined trading volume of digital assets on centralized spot and derivatives exchanges exceeding $10 trillion for the first time.

BlackRock’s IBIT spot Bitcoin ETF surpassed 500,000 BTC (approximately $48 billion) in assets under management (AUM) on Monday, less than a year after the fund began trading on January 11.

Saxo Bank strategist John Hardy suggests that proposed trade tariffs by U.S. presidential candidate Donald Trump could prompt other countries to seek alternatives to the U.S. dollar, potentially benefiting both the cryptocurrency and gold markets.

The supply of Bitcoin held by long-term holders has fallen to 12.45 million BTC, marking the lowest level since July 2022.

A whale with an 83.3% success rate in Ethereum (ETH) swing trades has sold 1,434 WETH, valued at approximately $5.23 million, at an average price of $3,647 per token in the past two hours.

A recent report highlights that the Bitcoin balances on cryptocurrency exchanges have reached an all-time low, with on-chain data showing a sharp decline in the availability of Bitcoin for purchase.

Bitcoin has surged by 129% year-to-date, driven primarily by anticipation of the 2024 U.S. presidential election outcomes and the upcoming halving event in April 2024.

Jamie Coutts, Chief Crypto Analyst at Real Vision, highlighted that $11 trillion has been added to the global M2 money supply over the past two years, with 10% flowing into assets like Bitcoin.

In November, Bitcoin on-chain NFT sales exceeded $185 million, setting the highest record since June this year.

Geoff Kendrick, Head of Digital Asset Research at Standard Chartered Bank, and Nick Philpott, Co-founder of Zodia Markets, have highlighted the growing use of stablecoins beyond trading collateral.