In partnership with

What we will talk about today...

Bitcoin Speculators Suffer 93% Losses After $365M Crash

Bitcoin futures liquidations cause significant losses for speculators, leading to a market purge.

• Main Points:

  • Market Purge: $365 million in Bitcoin liquidations.

  • Unrealized Losses: Short-term holders face 93% unrealized losses.

  • Market Stress: Intense pressure on new investors.

  • Historical Comparisons: Losses echo FTX implosion.

  • Future Outlook: Potential buying opportunity as the market resets.

• Detailed Insights:

  • Market Purge: Bitcoin liquidations reached $365 million, purging overleveraged market speculators, according to Glassnode’s weekly newsletter “The Week Onchain.”

  • Unrealized Losses: Short-term holders (STHs) have experienced the largest unrealized losses since the FTX collapse, with only 7% of STH holdings in profit.

  • Market Stress: Newcomers sold $850 million of BTC at a loss, indicating severe financial stress among recent buyers.

  • Historical Comparisons: Current losses and market conditions are reminiscent of the BTC price dip below $30,000 a year ago and the FTX implosion.

  • Future Outlook: Analysts suggest that the current price levels could mark a potential buying opportunity, with metrics indicating a possible recovery.

Related: Bitcoin Needs ‘Low $40,000s’ for Best Bull Market Entry — 10x Research

These daily stock trade alerts shouldn’t be free!

The stock market can be a rewarding opportunity to grow your wealth, but who has the time??

Full time jobs, kids, other commitments…with a packed schedule, nearly 150,000 people turn to Bullseye Trades to get free trade alerts sent directly to their phone.

World renowned trader, Jeff Bishop, dials in on his top trades, detailing his thoughts and game plan.

Instantly sent directly to your phone and email. Your access is just a click away!

Subscribe for Free

Just Clicking The Link Helps Us Continue
For Free Forever

WHAT WE RECOMMEND😉

To have an Invested Mind, we need Entertainment. Here are some Entertaining, Exciting, and Useful sites for You

Just Clicking The Subscribe Button Helps Us Continue
For Free Forever

Michael Saylor: Bitcoin Is the Top U.S. Asset and holds $1B in BTC

Michael Saylor reveals personal Bitcoin holdings exceeding $1 billion, underscoring his strong commitment to the cryptocurrency.

• Main Points:

  • Massive Holdings: Saylor holds 17,732 BTC, valued at over $1 billion.

  • Strategic Asset: Advocates for Bitcoin as a national strategic reserve.

  • Political Support: Notes increasing political recognition of Bitcoin.

  • Volatility: Views Bitcoin’s volatility as beneficial.

  • Long-Term Investment: Emphasizes holding BTC as a long-term asset.

• Detailed Insights:

  • Massive Holdings: Michael Saylor disclosed his personal Bitcoin holdings of 17,732 BTC, worth over $1 billion, during a Bloomberg interview, reflecting his unwavering commitment to the cryptocurrency.

  • Strategic Asset: Saylor supports Senator Cynthia Lummis’s proposal for a U.S. Strategic Bitcoin Reserve, aiming to accumulate up to 1 million BTC, highlighting Bitcoin’s importance on a national scale.

  • Political Support: Saylor observed a shift in political perspectives, noting that politicians worldwide now recognize Bitcoin as “the most desirable property in cyberspace.”

  • Volatility: Saylor argues that Bitcoin’s volatility is a feature that contributes to its superior long-term performance and investment value.

  • Long-Term Investment: Emphasizing Bitcoin as a long-term asset, Saylor compares it to valuable Manhattan real estate, advising against spending Bitcoin on everyday purchases.

Related: Saylor: BTC Strategic Reserve is ‘Louisiana Purchase’ Moment for US

El Salvador, IMF Discuss Bitcoin Risks and Economic Reforms

IMF and El Salvador are making progress in policies to enhance economic stability and address Bitcoin-related risks.

• Main Points:

  • Negotiations Progress: Discussions focus on economic reforms and Bitcoin risks.

  • Fiscal Improvement: Aim to boost public finances and bank reserves.

  • Governance and Transparency: Structural reforms to enhance governance.

  • Bitcoin Risks: Joint effort to mitigate potential fiscal and financial risks.

  • Economic Strategy: El Salvador's initiatives to attract foreign investment.

• Detailed Insights:

  • Negotiations Progress: The IMF reports advancements in negotiations with El Salvador to address macroeconomic imbalances and enhance growth. The focus includes strengthening public finances, boosting bank reserves, and improving governance.

  • Fiscal Improvement: Agreed measures aim to improve the primary fiscal balance by 3.5% of GDP over three years through fiscal consolidation, primarily by rationalizing the public wage bill.

  • Governance and Transparency: Structural reforms include a multi-year strategy to enhance governance and transparency, with legislative proposals to tackle corruption, money laundering, and procurement weaknesses

  • Bitcoin Risks: Despite many Bitcoin risks not materializing, there is a joint recognition of the need for further efforts to enhance transparency and mitigate potential risks from Bitcoin.

  • Economic Strategy: El Salvador, the first country to adopt Bitcoin as legal tender, has maintained a strategy of purchasing one BTC daily and attracting foreign investment by eliminating income tax for international investments.

Related: Parabolic Bitcoin Surge Expected as Whales Accumulate 404,448 BTC

CAN YOU PREDICT THE PRICE?

HOW DID WE DO? 🤷

Stay Tuned For More Twists and Turns in
🚀The Crypto World & Happy Investing🚀

This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results