Tom Lee’s BitMine Adds $73 Million in Ethereum While Strategy Dumps Bitcoin
BitMine continued its relentless accumulation of Ethereum while Bitcoin's biggest treasury firm parted ways with more of its holdings.
CoinJournal·
Key takeaways Bitcoin is trading below $64,000 after rallying more than 6% last week. U.S. spot Bitcoin ETFs recorded $526.64 million in net outflows, marking an eighth consecutive week of withdrawals. Renewed geopolitical concerns surrounding the Strait of Hormuz are limiting demand for risk assets. Bitcoin (BTC) is trading slightly lower on Monday after climbing […] The post Bitcoin dips below $63K amid ETF outflows and geopolitical risks appeared first on CoinJournal.
Read full articleBitMine continued its relentless accumulation of Ethereum while Bitcoin's biggest treasury firm parted ways with more of its holdings.
ABTC's aggressive Bitcoin accumulation and strategic maneuvers could amplify both growth potential and financial risk amid market volatility. The post American Bitcoin Corp increases Bitcoin holdings by 500 BTC to reach 8,000 BTC appeared first on Crypto Briefing.
Bitcoin's easing into consolidation. Selling has cooled, futures longs are piling back in, and options traders aren't as spooked about downside anymore. ETF outflows are drying up too. Hot capital is creeping back though, which could stir up volatility even as profits climb.
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Will history repeat for bitcoin with another major leg down?
Strategy sold $225M in BTC over two weeks to fund dividends, and BTC closed the week higher, testing whether the market can absorb ongoing sales.
Strategy sold $216 million in Bitcoin to fund its dividend payments, as wealth manager Bernstein maintained its year-end Bitcoin price target of $150,000.