This majestic leviathan, known for its somber rituals of mass divestment when the market’s twilight draws near, has danced its perennial ballet of selling. With each somber note of a plunging price, data from Spotonchain sings of previous acts, where last year—and again in 2023—the whale performed its grand, theatrical drop.
The latest splurge cost them an average of 11,845,786 yen per Bitcoin, resulting in a merry sum of 3.779 billion yen. What a fabulous figure! Their overall investment thus far is sitting pretty at 58.145 billion yen, with an average purchase price of 12,849,780 yen per Bitcoin. I’m positively breathless!
Hold on to your hats, folks. Here are the top three reasons behind this sudden surge. Spoiler alert: It’s not just a magic trick.
Bitcoin, that mischievous sprite, pirouetted to heights beyond $84,000 from its humbler dalliance beneath $75,000—a most absurd resurgence set to a backdrop of bond market chaos and a tariff debacle that even the theatrical Trump could not resist. 😂
In other news, the derivatives market is having a bit of a midlife crisis. BTC’s open interest is on a downward spiral, though funding rates are still in the positive zone. Talk about mixed signals! 🌪️
From his cozy office in Colorado, which he evidently had just returned to after a jaunt in Paris, Hoskinson’s message began with a lovely, candid admission: “This time it’s to go somewhere to do something that is quite dangerous—so much so there is a possibility of death.” How refreshing, to be so blunt about one’s own imminent risk! He reassured his eager viewers that, of course, he expected to return. But then again, one can never be too certain, right? The tone, however, made it abundantly clear: a transition—both personal and professional—is upon us. 🙄