Aurelia Butler

This statement provoked a massive wave of comments where the opinions split – some supported DogeDesigner’s statement, while others “voted” for Bitcoin.Roughly ten days ago, @cb_doge published a similar tweet and it got the attention of Dogecoin co-founder Billy Markus known on the X platform as “Shibetoshi Nakamoto.” Markus then clearly expressed his take on this point. He tweeted: “i would rather have 1 bitcoin than 1 dogecoin tbh.”In November last year the Dogecoin founder revealed his net worth as he commented on an article claiming that he is worth approximately $5 million. Markus stated that his “net worth” is well under $1 million and if he indeed possessed the above-mentioned sum of money on his bank account, he would have been much more relaxed about money.Markus does not even hold a lot of Bitcoin or Dogecoin, according to his tweets that were published later. As for Bitcoin, his holdings comprise just 0.006 BTC.This article was originally published on U.Today More

According to a recent report by IntoTheBlock, there are currently 1,010,777 such addresses, marking a notable achievement in the Bitcoin ecosystem.IntoTheBlock, a blockchain analytics platform, highlighted this milestone in a chart that illustrates the growing trend of individuals and entities accumulating Bitcoin to reach wholecoiner status. The term “wholecoiner” refers to those who hold at least one whole Bitcoin, a status increasingly sought after by investors.The data shows a clear long-term trend: more and more people are striving to become wholecoiners.This trend reflects the broader adoption and confidence in Bitcoin as a store of value and an investment asset. The increasing number of wholecoiners is a testament to the growing belief in Bitcoin’s potential for long-term growth and stability.IntoTheBlock’s analysis indicates that this upward trend is not a short-term phenomenon but a sustained movement. Over the years, as Bitcoin has matured, the number of addresses holding at least one BTC has steadily increased.Bitcoin has fallen roughly 17% since reaching an all-time high of nearly $74,000 in mid-March on rising optimism about the approval of U.S. exchange-traded funds to directly hold the original cryptocurrency.At the time of writing, Bitcoin had risen 0.04% in the previous 24 hours to $61,592. Adding to the melancholy on the markets is shifting expectations of U.S. interest rate cuts, which has reduced demand for the most risky assets.This article was originally published on U.Today More

This statement comes at a critical time. Bitcoin reached the $62,000 price mark after dipping below $60,000 at the start of the week. The market’s direction is currently influenced by mixed signals from economic data, as investors seek clues to the future trajectory of the economy and how this might impact monetary policy.With inflationary pressures and varying economic indicators, the timing of potential rate cuts is a topic of significant debate among market participants.Michael Saylor’s assertion that Bitcoin is the “cure to economic ill” underscores his belief in Bitcoin as a hedge against economic instability and inflation.The term “orange pill” is a nod to the concept of adopting Bitcoin as a fundamental shift in financial perspective, akin to the “red pill” metaphor from the movie “The Matrix,” representing enlightenment and awakening.Bitcoin has been stabilizing for several months in a broad range between $56,500 and $73,777, indicating buying near the support and selling near the resistance. When a price stays in consolidation, it might require a strong catalyst to move it above or below the range.In the immediate term, Bitcoin bulls face a battle to keep the price above the critical support level of $56,000. Bulls are predicted to stay active around the $60,000 to $56,500 range for the next few days as, if they fail to protect the support, BTC could fall to $50,000.The main resistance level to watch for on the upside is $64,800. A break and closing above this level would indicate that the bears are losing steam. Bitcoin may next aim to rally to $70,000.This article was originally published on U.Today More

Even before the U.S. government started selling BTC, spot traders had been selling their holdings. As traders anticipate an increase in supply, this inflow of Bitcoin onto the market usually sets off a sell-off.As expected under the circumstances, the market’s initial response has been sustained selling pressure. The market’s reaction to this news was relatively calm. A few shorts have opened in anticipation of the supply arriving on the market shortly. On the other hand, closing out long positions has been the main activity. This suggests that although there is some bearish sentiment, many traders are not actively shorting the market; instead, they are just backing off. The fact that institutions are not aggressively selling off Bitcoin is notable even in spite of the existing pressure.This moderation on the part of major holders might have a benefit. The market may stabilize earlier than anticipated if institutional sales do not overwhelm it. Institutions are responding cautiously, and spot markets’ persistent sell pressure points to an uncertain period ahead.But Bitcoin might be able to avert a more severe drop if it can hold onto important support levels. The U.S. government and other significant holders will have a significant influence on how the price of Bitcoin moves in the near future.In general, the possibility of a reversal is present, but it still requires some serious inflows, which are not there yet.This article was originally published on U.Today More

This was part of the funds confiscated in 2013 from the Silk Road dark web market place when it was shut down and its founder Ross Ulbricht arrested and given two lifetime prison sentences.Deaton stated that this does not coincide with the recent SEC policy of proclaiming Coinbase illegal.In response, Coinbase filed a lawsuit against the regulator. However, what has happened now is that the U.S. government has sent 3,940 BTC worth roughly $241.22 million to this exact exchange to be sold. This money was initially confiscated from a drug trafficker on the Silk Road, and then was forfeited at trial in January 2024.John Deaton called this move “nonsense coming from our government” since it allows Gary Gensler and Senator Warren to stand against the whole cryptocurrency space but continues to use the services of the largest U.S.-based crypto exchange, Coinbase Prime. Prior to that, a similar sale occurred in March last year when the U.S. government’s wallet sold 9,861 coins for $216 million.The founder of on-chain data aggregator CryptoQuant believes that this sale will hardly impact the price of Bitcoin on the market. However, this sale coincided with a 1.76% Bitcoin price fall as the world’s flagship cryptocurrency plunged from $61,778 to the $60,688 level. By now, BTC has somewhat recovered and is trading at $61,260 at the time of this writing.This article was originally published on U.Today More

After gaining the authority to take action regarding the Bitcoin it had seized, the US government continues to transfer cryptocurrencies to exchanges. In April, the government had previously contributed to a market decline by transferring a larger amount of Bitcoin worth $2 billion. While such actions are seen as part of the US’s intervention in the crypto market, some believe that the government is making strategic moves to reduce its holdings of crypto assets.According to Lookonchain data, the US government currently holds approximately 213,46 BTC worth around $13.07 billion. The US holds the most Bitcoin among governments. Globally, approximately 2.7% of the circulating Bitcoin is held by governments, primarily the US, China, the United Kingdom, Germany, and El Salvador. Meanwhile, this move by the US follows the transactions of the German government, which has been transferring Bitcoin to crypto exchanges since last week.The downtrend in the Bitcoin market has intensified in recent days with the sales from government institutions. However, many market experts attribute the main reason for the Bitcoin decline to miner sales.Although the pullback in Bitcoin is largely thought to be due to miner sales, the US continues to create market anxiety with its large amount of BTC holdings. Speculations in the market are developing around the idea that the US has the potential to manage the market with its Bitcoin reserves, and it is emphasized that such crypto transfers can create a greater impact with panic selling in the market rather than the amount sold.After closing the day yesterday with a drop of around 1.5% below $61,000, Bitcoin saw accelerated buying, especially towards US trading hours today. The largest cryptocurrency is currently recovering yesterday’s losses and moving towards $62,000. More