Cryptonews

“There are no indications that this whale is selling Bitcoin,” Arkham declared in a post on X, the social media platform where the digital and the absurd often collide. The firm elaborated that the eight transfers, each moving 10,000 Bitcoin (BTC) from wallets that had lain dormant for over a decade and a half, might be due to the owner’s decision to upgrade from the original legacy wallet to a Native SegWit address. This upgrade, they say, offers the allure of improved security and lower fees, a move that could be seen as a digital equivalent of moving from a drafty old castle to a modern, fortified fortress.

Bitcoin has been loafing about the $108,000 mark lately, lazing like a sated crocodile after snacking on a couple of hapless traders. On Wednesday, our slippery friend dipped its tail near $105,500 then popped back up, testing $109,000 again because, as ever, Bitcoin simply can’t resist showing off in front of company.

If you think that sounds about as exciting as a wet Sunday at Blandings, you’re not wrong. The shrinking premium suggests trader enthusiasm is waning, despite Bitcoin clinging above $100K like a cat on a curtain rail.

It seems that the halcyon days of self-custody, when one’s private keys were sacrosanct, are behind us. The likes of Elon Musk, that great bastion of crypto wisdom, once famously declared, “Your app sucks,” to a crypto wallet that dared to deny users access to their private keys. Fast forward to the present, and we find ourselves in a world where Bitcoin ETFs and treasury companies have become the flavour du jour. The narrative has shifted, and self-custody has been relegated to the shadows 🌑.

CryptoWzrd, that great sage of the digital realm, explained that Litecoin’s price action was inextricably linked to the whims of Bitcoin. Ah, Bitcoin, that great behemoth of the cryptocurrency world. It seemed that Litecoin’s fate was tied to the apron strings of its more illustrious cousin. The $96 level, a resistance so formidable, stood like a sentinel, guarding the gates of prosperity. 💸

Now, you might be thinking, “Why BNB, of all things?” Well, it seems Nano Labs is a fan of the leading crypto exchange’s native token, which currently boasts a market cap of around $100 billion, according to CoinGecko data. And let’s not forget that Nano Labs is already sitting on a cool 1,000 BTC, making them the 31st largest corporate treasury holding the leading asset.

This, I’m told, is one of the region’s grandest stabs yet at tokenization—a word that here means ‘turning things you recognize into things you’ll never see again, but on a blockchain’. Quite the wheeze for a company trying to make itself look fancy on the world stage.

Despite all this wandering ‘round the pasture, Bitcoin hasn’t strayed too far from its all-time fencepost of $111,814. If you’re feeling twitchy about the whole mess, folks are turning their squinty gazes toward $105,000, which might just be the next rail in the great support fence holding up the whole crypto cattle drive.

Enter Conor Grogan, a director at Coinbase, who flagged a suspicious BCH transaction—10,000 tokens worth nearly $5 million—connected to one of the whale wallets just hours before the big transfer fiesta kicked off.

But what’s this? The DOGE market dips, yet the futures market tells a different tale. It’s as if the investors are saying, “Fear not, dear friends, for we have faith in the king of meme coins!” And faith they have, for the open interest, that magical number that reveals the total number of unsettled active futures contracts, stands at a whopping 12 billion DOGE. A bullish turn, perhaps? 🤔