THELOGICALINDIAN - n-a
#1: Bitcoin Is Being Adopted by Dave Portnoy
This week, Dave Portnoy, the architect of Barstool Sports and a celebrity day trader, bought Bitcoin with the advice of the Winklevoss Twins. Analysts see this move as bullish for the cryptocurrency as his millions of followers will now be apparent to BTC on a approved basis.
Case in point: his Twitter video with the Winklevoss Twins has already been beheld over 700,000 times. Separate Portnoy interactions about Bitcoin accept been admired and replied to tens of bags of times as well.
#2: Federal Reserve is Working on a Digital Dollar
This week, it was appear that the Federal Reserve is attractive into a digital/crypto dollar in accord with MIT.
Although it isn’t bright if this will actualize into an absolute crypto asset, analysts say the digitization of accounts will addition the amount of Bitcoin.
As Arthur Hayes of BitMEX has explained, the abolishment of banknote will advance to Bitcoin acceptance due to the “moral and alike psychological” charge to accumulate advice to oneself.
#3: Tether’s Market Cap Is Increasing at a Rapid Clip
According to Charles Edwards, the bazaar assets of Tether has added 26% afresh accomplished $10 billion.
To analysts such as him, this indicates that there is an arrival of absorption in basic into the Bitcoin and Ethereum markets.
Edwards ahead begin that Tether’s bazaar assets was acerb activated to the amount activity of BTC throughout 2024 and 2024, with the alternation somewhat cone-shaped off this year.
#4: A Large Sum of the Bitcoin Supply Hasn’t Moved in a While
Blockchain abstracts indicates that a ample allocation of all Bitcoin in apportionment has not confused in over a year. Glassnode, for instance, indicates that about 67% of all BTC has not confused from a wallet in 12 months or more.
The aftermost time this abundant of the BTC accumulation was inactive, the assemblage from the hundreds to $20,000 began.
