Cryptocurrency

If the recipient’s wallet under the address “bc1q5x” is indeed unknown and has never been used, the sender’s wallet has some links that may reveal the real owner behind it. As Arkham Intelligence’s data shows, the address “bc1qe9” has previous ties to alleged Fortress Trust — a major custodian.Interestingly, the company was on the verge of being acquired by Ripple last year, but the deal was called off. Whether this colossal amount of Bitcoin belongs to Fortress Trust or their former client is unknown. What is known is that such large transfers always have a ripple effect on the market and its participants.Big moves like this don’t usually go unnoticed, and for good reason. They tend to cause major market swings, especially on days when there’s not a lot of trading activity. When there’s less liquidity, even just the possibility of a follow-up move can make things more volatile.When you see a transfer this big, especially outside of centralized exchanges, it’s got to be more than just your everyday trading.The implications? It is not something you can just ignore. These transfers are rarely just random. They are probably a sign of something bigger, like a strategic move, a change in the way big institutions are working together, or maybe even a new push into the market.These are the times when the market participants love to speculate, but the answers are still unclear.This article was originally published on U.Today More

He explains that this could then be utilized to offset 36% of its domestically held debt. This would translate to clearing 70% of the total U.S. debt. Young Ju’s plan focuses primarily on settling domestic creditors. Perhaps he assumes that foreign creditors may not accept Bitcoin as payment.Notably, Young Ju has relied on Bitcoin’s impressive growth rate over the past 15 years. BTC has recorded significant capital inflows and has recently seen its market capitalization soar above $2 trillion.Young Ju suggests that if the U.S. government designates Bitcoin as a strategic asset like gold, it could positively impact its status. Notably, Bitcoin could gain equal status and official credibility as a store of value with gold.Additionally, given its susceptibility to speculative pump, Bitcoin’s volatility could prove challenging. This might make it unappealing to creditors.Despite these hurdles, the analyst believes that if the U.S. government establishes a Strategic Bitcoin Reserve, it will signal its confidence in the asset’s long-term potential. This could ultimately encourage broader market acceptance and push BTC into a more active role in global finance.Meanwhile, per an earlier U.Today report, Minneapolis Federal Reserve Bank President Neel Kashkari believes Bitcoin has “little” practical use. However, Michael Saylor of MicroStrategy holds an opposing view.This article was originally published on U.Today More

To demonstrate the traction of Bitcoin (BTC) and AI, Srinivasan shared two charts. The first one demonstrates the opportunities of OpenAI’s flagship models to solve various tasks. It is measured by Abstraction and Reasoning Corpus for Artificial General Intelligence (ARC-AGI) benchmarks.Yesterday, Dec. 20, 2024, OpenAI’s much-anticipated o3 model set a new record, hitting 87.5% on ARC-AGI public data set. As demonstrated by Balaji Srinivasan, this is a 10x more powerful result compared to GPT-4o, the strongest of ChatGPT’s mainstream models today.In turn, GPT-4o performs 500% better than GPT-3, the model that kickstarted the AI euphoria in 2023.The second chart by Balaji Srinivasan showcases the dynamics of USD-denominated AUM of BlackRock (NYSE:BLK) iShares ETFs on Gold and spot Bitcoin. Launched less than one year ago, BlackRock’s Bitcoin spot ETFs exceeded their Gold-based predecessors by almost 73%.Bitcoin spot ETFs in the U.S. were approved Jan. 11, 2024. In total, they amassed $113 billion in AUM across 21 products.Commenting on Balaji Srinivasan’s estimations, tech veteran and former Phunware CEO Alan Knitowski noticed that Bitcoin (BTC) might surpass the internet in adoption impetus.While Bitcoin (BTC) might already be growing faster than the internet, its adoption is near 1999 levels for Global Web, Knitowski’s chart says.This article was originally published on U.Today More

The document revealing details of that concept was published on Michael Saylor’s personal website.It suggests dividing digital assets into several groups, establishing legitimacy for them, setting up “rational compliance” as well as offering a vision of “Capital Markets Renaissance.”As part of this concept, Saylor believes it is necessary to divide digital assets into several categories. That includes a “digital commodity,” i.e., assets without an issuer and backed by digital power, such as Bitcoin; a “digital security,” which is “An asset with an issuer, backed by a security (e.g., equity, debt, derivatives).”The above-mentioned document also includes a section about the creation of a “robust framework of rights and responsibilities” targeted at asset issuers, exchanges and asset owners in order “to engage in digital asset markets with confidence.”A key principle for implementing the concept and following it afterward says: “No one has the right to lie, cheat, or steal. All participants are civilly and criminally responsible for their actions.”As of late, these accumulations have been made thanks to the debt raised by the company from shareholders who receive yields on their indirect Bitcoin investments in MicroStrategy.This article was originally published on U.Today More

He also made an important warning to the financial markets as to how he sees their nearest future.Kiyosaki also reminded his readers about president Nixon removing the gold standard that had been used to back the U.S. dollar until then: “Nixon took the US dollar off the gold standard.”It was then, the financial expert revealed, that he began to “save” gold, silver, and these days he is saving Bitcoin.Today, he said, “the best assets for your money are real gold, silver, and Bitcoin.”However, he believes that saving Bitcoin, physical gold and silver can save one’s wealth, and it is much safer to invest in those rather than saving fiat money and investing in assets based on fiat money.So far, he has recommended that the community should start accumulating Bitcoin in parts, buying Satoshis, since one single BTC back then was worth more than $106,000. After that BTC soared above $108,000. From Tuesday to Friday, Bitcoin plummeted by 15%, falling from $108,380 to $92,640 on the news of the Fed Reserve planning to reduce its dovish policy and make a much smaller interest rate cut next year. By now, Bitcoin has managed to recover 7%, rising to $99,150.This article was originally published on U.Today More

The move upwards pushed EOS’s market cap up to $1.3508B, or 0.04% of the total cryptocurrency market cap. At its highest, EOS’s market cap was $17.5290B.EOS had traded in a range of $0.8300 to $0.8873 in the previous twenty-four hours.Over the past seven days, EOS has seen a drop in value, as it lost 19.35%. The volume of EOS traded in the twenty-four hours to time of writing was $416.1100M or 0.14% of the total volume of all cryptocurrencies. It has traded in a range of $0.7051 to $1.1056 in the past 7 days.At its current price, EOS is still down 96.20% from its all-time high of $22.98 set on April 29, 2018.Bitcoin was last at $98,780.1 on the Investing.com Index, up 1.01% on the day.Ethereum was trading at $3,510.20 on the Investing.com Index, a gain of 3.57%.Bitcoin’s market cap was last at $1,963.2454B or 56.74% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $424.5851B or 12.27% of the total cryptocurrency market value. More

This breakdown implies that short-term bullish momentum is waning. The psychological level of $90,000 and the 50 EMA at $91,798 are the next significant support levels to keep an eye on. If buyers take action, these levels might serve as a buffer against additional drops. The last few sessions have seen a noticeable increase in selling pressure, according to volume analysis. But the RSI, which is at 43 right now, shows that Bitcoin is getting close to oversold territory. Bulls can regroup during this dynamic, which frequently occurs before a possible relief rally or consolidation period. The larger picture shows that Bitcoin is still above its 100 EMA ($82,971), which has historically served as a solid support level during market downturns. The entire bullish structure will continue to exist as long as this level is maintained.Rebounding above $97,000 would indicate a resurgence and potentially spark a new rally. Looking ahead, Bitcoin’s trajectory will depend on the market’s capacity to maintain important support levels. Should selling pressure persist, the $85,000 zone may be tested by a more severe correction. Bitcoin might, however, stabilize and try to recover $100,000 if buyers regain control, indicating a resurgence of market confidence.When this level is broken, it indicates that ETH has lost a lot of momentum, which puts the market in jeopardy. The significant trading volume that coincided with the sell-off raises additional concerns because it implies that the market is actively participating in the decline. At $3,033, the 100 EMA provides the next important level of support. Ethereum may experience additional drops and possibly test the psychological $3,000 barrier if it is unable to maintain this line. To restore investor confidence and pave the way for a possible rally, ETH must rise back above $3,800. At 35, the Relative Strength Index (RSI) suggests that Ethereum is getting close to oversold territory. Bulls may find some hope in this since relief rallies have historically resulted from similar circumstances.Any upward movement, though, is probably going to encounter strong opposition at the $3,500 and $3,800 levels. In a larger sense, Ethereum’s market difficulties reflect the mood of the market as a whole, with riskier assets under pressure due to tightening macroeconomic conditions.As selling pressure increases, traders’ increasing agreement about the possibility of additional downside is frequently indicated by this volume spike. More market participants may be adopting a bearish stance as a result of the increased activity during this downward move, which reflects a general lack of confidence in Solana’s performance going forward. This downturn has worrying ramifications.Solana may test support at $150, a crucial psychological barrier, if the 200 EMA is breached, which could lead to even lower levels. The Relative Strength Index (RSI), which is currently at 31, is getting close to oversold territory but has not yet indicated a definite reversal. This allows for additional downward movement prior to a possible rebound.Bearish sentiment on the main cryptocurrency markets exacerbates Solana’s difficulties on the larger market stage. Investor confidence may be further damaged if the 200 EMA is not broken, which could result in a protracted bearish phase. But if SOL can maintain this level, it may draw in investors seeking a long-term entry point, which could stabilize the asset.This article was originally published on U.Today More