And where did this enchanted digital delight land? Ah, but it settled at a modest local bottom of $116,000, where bids, much like loyal subjects, re-emerged to give their beloved a boost. This performance, dear audience, has one critical act left. QCP Capital whimsically predicts that a plunge to $110,000 may just usher in a solid stage for our Bitcoin pal to gather strength. What foresight! 🤔
Lo and behold, the Base App does not merely serve as a rebranded wallet but claims the mantle of a monumental expansion—a veritable revolution! It’s built upon the foundation of the Base Layer 2 network, designed to deliver an experience smoother than a freshly ironed shirt, centered around those elusive USD Coin (USDC) payments, lively social interactions, and a smorgasbord of decentralized applications.
According to a CryptoQuant Quicktake post by contributor Amr Taha, more than $2 billion worth of stablecoins – primarily Tether (USDT) – were deposited into major derivatives trading platforms earlier today. Taha believes that this surge in inflows signals increased appetite for leveraged positions among seasoned traders, many of whom are anticipating a potential breakout in BTC’s price. Notably, this fresh batch of USDT was minted by Tether Treasury, suggesting institutional demand is driving the activity.
Out with the old, the tired public wallet listings, and in with the new, shiny professional audit that happens every single trading day. Investors can now rest easy knowing they can check that the on-chain balances match the ETF shares before the first coffee sip of the morning. No more waiting around for an end-of-week audit—because who has time for that? Certainly not Bitwise!
After vanishing from social media and experiencing one of the most dramatic crypto trading collapses, Wynn is making a comeback, and this time, he’s betting big on a volatile meme coin, PEPE. The notorious Bitcoin trader has reportedly resumed trading the perpetual version of PEPE with fresh leveraged exposure on the decentralized derivatives platform Hyperliquid. 🚀🐸
Technically, federal agencies still hold 200,000 BTC, but these assets aren’t government property. For example, up to 48% of this stockpile could be returned to Bitfinex creditors alone. This will undoubtedly impact Trump’s Reserve plans. 🤷♂️
Yet, the long-term outlook remains as bullish as ever, a testament to the indomitable spirit of the market. On daily timeframes, the ratio still hovers near multi-month highs around 2.5, a clear indication that the majority of large traders are still favoring long positions. This dichotomy between short-term caution and longer-term conviction is a healthy sign, a dance of prudence and optimism in a market that knows no bounds. 🕺
In a recent thread on X, Glassnode delved into the insights provided by various on-chain indicators regarding Bitcoin’s position in the current cycle. The first metric shared by the analytics firm is the Short-Term Holder (STH) Cost Basis, which calculates the average acquisition price of those who purchased their coins within the past 155 days.
Jay Clayton, the interim New York Attorney and former Securities and Exchange Commission Chair, has petitioned Judge Katherine Failla to block certain testimony, to keep the shadows cast by Tornado Cash from growing too long. He requests that the judge “preclude evidence and arguments based on privacy rights,” a clever ruse to keep the truth at bay. 🚫
This joint operation, carried out in Miami, demonstrates the growing role of digital currencies in global narcotics trafficking. 💊💼
