Michael Saylor’s Strategy missed Bitcoin’s brief drop to $60,000 last week, purchasing $90 million worth of BTC at an average price near $78,800. Michael Saylor’s Strategy, the world’s largest public holder of Bitcoin, added another tranche of BTC last week, expanding its holdings without pushing its overall cost basis lower. Strategy acquired 1,142 Bitcoin (BTC) for $90 million last week, according to a US Securities and Exchange Commission filing on Monday. The acquisitions were made at an average price of $78,815 per BTC despite Bitcoin trading below that level for most of the week and briefly touching $60,000 on Coinbase last Thursday. Read more
Binance bought $300 million in Bitcoin for its SAFU reserve, pushing the fund past $720 million as the exchange shifts its emergency buffer to BTC. Binance added another $300 million worth of Bitcoin to its emergency reserves on Monday, continuing its experiment with a Bitcoin-backed protection fund as markets remain under pressure. Binance bought another 4,225 Bitcoin (BTC) worth $300 million for its Secure Asset Fund for Users (SAFU) wallet, which holds its emergency reserves, according to blockchain data platform Arkham. The acquisition lifts the fund’s Bitcoin holdings to more than $720 million at current prices. Read more
Whale and institutional demand for Bitcoin show signs of a comeback, but downside risks remain as analysts expect BTC price to retest $66,000 support. Bitcoin (BTC) rebounded 17% to trade near $70,000 on Monday, from its 15-month low below $60,000, as whales took advantage of discounted prices to accumulate. Key takeaways: Large investors have bought the dip to $60,000, adding at least 40,000 BTC. Read more
Bitcoin price forecasts still favor lower macro lows as traders brace for US inflation data and renewed Japan-driven currency volatility. Bitcoin (BTC) starts the second week of February still on the defensive after last week’s sharp drawdown, with traders increasingly eyeing a deeper retracement toward $60,000 — and even $50,000 — before a durable macro bottom forms. Market forecasts agree that Bitcoin price action has not yet put in a reliable long-term bottom. CPI week comes as markets lose faith in Fed rate cuts in March. Read more
Most quantum-vulnerable Bitcoin sits in wallets holding under 100 Bitcoin, with CoinShares claiming it could take a millennium to compromise each one. Digital asset manager CoinShares has brushed aside concerns that quantum computers could soon shake up the Bitcoin market, arguing that only a fraction of coins are held in wallets worth attacking. In a post on Friday, CoinShares Bitcoin research lead Christopher Bendiksen argued that just 10,230 Bitcoin (BTC) of 1.63 million Bitcoin sit in wallet addresses with publicly visible cryptographic keys that are vulnerable to a quantum computing attack. A little over 7,000 Bitcoin are held in wallets with between 100 and 1,000 BTC, while roughly 3,230 Bitcoin are held in wallets with 1,000 to 10,000 BTC, equating to $719.1 million at current market prices, which Bendiksen said could even resemble a routine trade. Read more
Bitcoin price analysis stayed bearish on the outlook for BTC, predicting new macro lows in a repeat of the 2022 bear market. Bitcoin (BTC) gained up to 3% Sunday, but some traders refused to believe that the BTC price crash was over. Key points: Bitcoin price comparisons warn that new macro lows are due if the 2022 bear market continues to repeat. Read more
Bitcoin is in a bear market and is “getting swept up” with the rest of the macro assets, Bitwise CEO Hunter Horsley declared during a television interview. Bitcoin’s drop below $70,000 is being seen very differently by long-time holders and institutional investors, according to Bitwise CEO Hunter Horsley. “I think long-time holders are feeling unsure, and I think the new investor set, institutions are sort of getting a new crack at the apple,” Horsley said during an interview with CNBC on Friday. Horsley said that institutional buyers are “seeing prices they thought that they’d forever missed.” It was only in October that Standard Chartered's head of digital asset research, Geoff Kendrick, said he doesn’t expect Bitcoin to fall below $100,000 again. Read more