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The largest and smallest bitcoin whales have added to their holdings, but the group in between has jettisoned some of their tokens.
Traders now see a 94% chance of the Fed raising rates by 25 basis points later this month.
Observers call for spot-based bitcoin ETF as the bull market raises cost of pre-expiry rollover of positions for futures-based ETFs.
The forecast is consistent with bitcoin's tendency to chalk out sharp gains in the months after the mining reward halves. The fourth halving is due early next year.
Bitcoin prices have paused with support at $30,000
Even so, spot trading volumes are at historically low levels.
The decentralized cloud storage protocol has seen its market value double this week.
PLUS: The first half of 2023 has so far been very promising for the crypto majors.
PLUS: Dismissing the very real prevalence of Ponzi schemes in GameFi isn't a good look for Web 3.
The largest cryptocurrency by market cap tends to rally in the month of July, the report said.
- 12:55Michael Saylor has released Bitcoin Tracker information for the seventh consecutive week, possibly hinting at another increase in BTC holdingsOn December 22, MicroStrategy founder Michael Saylor released Bitcoin Tracker related information for the seventh consecutive week. However, this time it was different from before as he stated: "The orange dots on the website have an incentive effect." (Note: After each purchase of BTC by MicroStrategy in the past, a green dot would be marked on the corresponding date on their website and blue was used for BTC price trend lines. This time, previous green dots on the site turned orange.) According to previous patterns, MicroStrategy always increases its holdings of Bitcoin the day after such news is released.
- 11:00Analyst: It seems reasonable for Amazon to keep a "small portion" of its cash in BitcoinAccording to The Washington Post, Morningstar analyst Dan Romanoff stated that although gold is typically considered the most suitable asset for hedging against inflation, Bitcoin might be a more useful tool for this purpose. Over the past five years, both Bitcoin and gold have appreciated in price beyond inflation, with Bitcoin's increase being much larger. Dan Romanoff believes that despite there not being much historical data on how cryptocurrencies perform during different economic cycles, it could be reasonable to make small investments in Bitcoin. He added: "If Amazon can keep a small portion of cash in Bitcoin, it seems quite sensible."
- 10:59Data: Over the past 2 days, nine new wallets have transferred out more than 362,000 LINK from CEXAccording to Lookonchain monitoring, in the past 2 days, 9 new wallets have withdrawn 362,380 LINK (approximately 8.19 million USD) from CEX.
