On December 24th, BTC hovered around 94,000, and in the last week, ETFs have been flowing out. MicroStrategy bought more than 5,000 coins, marking the least amount of accumulation in recent months.
Then BTC suddenly surged, aiming for 100,000. Why is that?...
The main reason is that MicroStrategy announced plans to increase financing for purchasing BTC... There are still hundreds of billions of dollars in dry powder available.
At the same time, with Christmas approaching, ETH is not opening.
Let's analyze the logic: normal people trading cryptocurrencies hope to buy low and sell high... When someone loudly declares, "I want to buy in," it leads to a price increase, while the buying momentum is the weakest... What does this indicate? Smart people can understand it at a glance...
MicroStrategy is like a cornered beast, reminiscent of Grayscale's journey from glory to the abyss.
It is bound to go through a similar process, but the difference is that Grayscale used investors' money and earned management fees.
MicroStrategy's losses, however, are all from the company's own funds.
Its cost has already risen to 63,000.
Holding BTC without selling means not earning a single cent in profit...
Biden will officially leave office as President of the United States at noon on January 20, 2025, transferring presidential power to Trump.
Trump's aides have already begun preparing policies related to cryptocurrency, and once Trump officially takes office, it will be the time for cryptocurrency to take off across the board, leaving little time for everyone to get on board.
Now seeing how many points are still blowing in the square where KOL can enter Just blacklist them and that's it
There is no asset in this world that only goes up and never down
Calm down and take a look at the K-line, what position is 90k for Bitcoin?
It's actually very high. Buying Bitcoin at 60k has no psychological burden at all
Any new coin with a market cap of 10e or 30e dollars
Is the money in this market really blowing in from the wind?
Even BlackRock has started to flow out MicroStrategy said that if there is a need, they will buy again What it means in human terms is that I will not continue to buy
Still hoping the U.S. government will abandon the dollar to buy BTC
Falling to 60k, he either jumps off the building or maintains dignity. He's in a hurry.
Binance News
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MicroStrategy CEO proposes US digital asset framework, suggests establishing Bitcoin reserves
According to TechFlow, on December 21, MicroStrategy CEO Michael Saylor released a proposal (U.S. Digital Asset Framework, Principles and Opportunities) aimed at strengthening the status of the U.S. dollar and establishing the U.S. leadership in the digital economy.The framework proposes a digital asset classification system, including digital goods without issuers (such as Bitcoin), digital securities with issuers, digital currencies, digital utility tokens, digital NFTs and digital asset-backed tokens.Saylor recommends limiting asset issuance compliance costs to less than 1% of assets under management, annual maintenance costs to no more than 0.1%, and reducing issuance costs to expand capital market access.
BlackRock's IBIT and ETHA Set Record for Largest Single-Day Net Outflow
According to Odaily Planet Daily, Farside Investors data shows that BlackRock's IBIT saw a net outflow of 72.7 million USD yesterday, and ETHA experienced a net outflow of 103.7 million USD, both setting records for the largest single-day net outflow since their launch.
Binance Alpha will announce the third batch of projects at 18:00
According to Binance, Binance Alpha will announce the third batch of project tokens at 18:00. It is reported that there are 10 projects in the third batch, including: 4 projects on the BNB Chain network, 1 project on the Ethereum network, 3 projects on the Solana network and 2 projects on the Base network.
The status of MicroStrategy and BlackRock in this bull market is the same as that of Grayscale in the previous bull market
The difference is that the funds MicroStrategy uses to invest in BTC are obtained through borrowing or selling stocks, and the income from the rise and fall of BTC belongs to the company
The funds of BlackRock and Grayscale are the money of investors. There is no cost to obtain funds. The rise and fall of BTC has no impact on the company. They only charge management fees
Let's see how Grayscale used to make money. In the last bull market, it bought a lot of BTC and held it until this bull market
It began to reduce its holdings after transforming into a great ETF. . He sold a lot, but Microstrategy and BlackRock bought more.
So when will Microstrategy exit? According to Grayscale's strategy, it will wait until the next bull market.
By then, BTC may be 150,000 to 200,000 dollars, when there are bigger and more powerful institutions entering the market.
Some people may ask why Microstrategy wants to sell BTC? It's very simple. Holding BTC does not generate income. It must be sold before there is money to pay loan interest and dividends to shareholders. .
So this is why Microstrategy fools big companies and institutions to take over all day long. .
In the absence of more powerful institutions entering the market, Microstrategy's sale of BTC will bring serious consequences to the market. .
It is already too big to sell. .
But holding the currency without selling will also have problems. If the price of BTC drops to 60,000, then Microstrategy can be considered to have blown up.
The accumulated floating profits of tens of billions of dollars have turned into ashes, and it has to face the liquidation of the loan structure. .
Selling coins will result in even greater losses
The more coins MicroStrategy buys, the higher the cost will be and the more crazy the risks accumulated by this company will be. .
I think his current business strategy is extremely dangerous. .
I am also very happy to see him disappear in the decline of BTC. . $BTC
When it's time to shout long, shout short. When it's time to shout short, shout long. Sigh.
五味子
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Last night's live broadcast, this morning's writing, I have reminded everyone not to chase highs when entering the market. Let everyone place orders and wait. I also mentioned this morning that there is a pullback pattern. Currently for BTC, at the 1-hour level, there is still no stabilization pattern, so I suggest everyone wait a bit longer. The support level is around 102500, with the four-hour neckline and upward trend line support near 101471. You can place orders in batches. Set the stop loss at 99999. Today the Federal Reserve will announce the interest rate, and it should reduce the rate by 25 basis points if nothing unexpected happens. The US stock market will definitely rebound, and then a V-shaped reversal pattern will appear. For ETH, please place orders around 3800, 3760, and 3505. For SOL, you can place orders at 213 and 203. For DOGE, place orders at 0.3650 and 0.3403. I still recommend that, since BTC hasn't made a significant pullback for a long time, it's better to trade quickly in and out on a short-term basis. Just a hypothetical, if the Federal Reserve stops cutting interest rates today, what kind of crash will the crypto world face? It could be like this, BTC hasn't dropped much, but altcoins will likely plummet. However, it can be certain that by 2025, there will be at most one or two rate cuts. For the market to rise, there needs to be a new narrative.
After several days of continuous surge, Microstrategy's market value exceeded 100 billion US dollars. This company can be said to be nothing except the Bitcoin it holds
The Bitcoin it holds is currently worth 35 billion US dollars. The principal for purchasing Bitcoin is about 20 billion US dollars, and it has earned 15 billion
That is to say, the company's price-to-book ratio is 3 and the price-to-earnings ratio is 6.5
At first glance, this financial data can be said to be a very good listed company. . . But considering that the main business of this company is to borrow money to buy Bitcoin. . .
It feels weird. . According to our Chinese thinking, it is speculation and not doing business properly. I am afraid there will be no good end. . .
But we don't need to worry about Microstrategy. The executives bought the company's stock at a price of 17 US dollars and sold it at a price of 350 dollars. . .
Tens of millions have been earned. . .
BTC has been very bullish these days, but Microstrategy is even more bullish. BTC rose by 2 points, while it will rise by 10 points or 15 points.
But yesterday, that is, on the night of December 21, Microstrategy, which still rose by 10% before the market opened, fell all the way after the opening, and finally closed down by 16 points.
I said in the previous article that
There are two key points in the current BTC bull market:
1 When will BlackRock sell its shares?
2 When will Microstrategy fall?
Today, BTC rushed to a height of 99420, just one step away from 100,000.
I still think that today, that is, on the night of November 22, Friday, after the US stock market opens, the bulls will break through the 100,000 mark.
The market after the breakthrough must be extremely exciting.
ETH+altcoins suddenly started to move at night. The atmosphere and logic of the market have changed slightly.
Bitcoin was originally around 98,000 and was doing well. Just waiting for the opening of the US stock market tonight and cooperate with M's offensive to take 100,000 in one wave.
After starting at a low level, BTC fell back to around 97,000.
BlackRock originally only needed to buy 2,3k to easily exceed 100,000.
In this way, if you don't invest more than 5k in Bitcoin, 100,000 may not be broken.
The stretch of the altcoin at this point seems to be a general rise.
But may I ask if you are the big dealer in it?
Are you going to run away or not?
Bitcoin is about to reach 100,000. How much space and story space are there behind it?
There will be a bunch of poor small investors who will be stuck in this seemingly fierce rise.
1 BlackRock bought 993, 2358, and 6798 units on the 18th, 19th, and 20th respectively, showing a continuous inflow trend. 2 Microstrategy After several days of significant increases, its market value has reached $96 billion, with the BTC it holds valued at $30 billion, and it plans to issue $2.6 billion in notes to continue buying. At the current price, it could sell for about $27,000. 3 BCH has seen a rebound, with a single-day increase of nearly 20%, and LTC has also risen by 8% to $90.
BTC also saw an effortless rise during the day on the 21st, reaching a high of $97,852. It can be said that reaching $100,000 tonight is almost not difficult.
The focal point of the entire BTC market lies with BlackRock and Microstrategy. These two institutions are currently lobbying for the establishment of a BTC national reserve in the United States... creating a new narrative for a rising trend.
The current market focus is on the $100,000 threshold. Everyone, even the most steadfast bears, will likely admit that breaking through $100,000 is a matter of the next day or two, or even a few hours.
Can BlackRock and Microstrategy really achieve a state of only consuming without any outflow?
And is it true that BTC can stand firmly at $100,000 without needing any correction?
Currently, the perpetual funding rate for BTC has returned to a neutral level of 0.0001. What will happen next? We shall see. #BTC何时突破10万?
Two new coins went online all of a sudden Expected to consume 10e dollars in on-site funds The momentum of altcoins rising should be halted This short position has resisted from 62000 to the current 82000 Really can't handle it anymore Thanks to Binance for the rescue, haha