Meanwhile, in a plot twist that no one saw coming, Zcash (ZEC) and Internet Computer (ICP) have been rising like a pair of proverbial phoenixes from the ashes, leaving behind the usual crypto chaos. These two are certainly making headlines, so let’s take a look at their dazzling performances. 🌟
While the traders wring their hands and mutter dark prophecies, Tether, the issuer of the ever-controversial USDT, has been on a shopping spree. Like a cat burglar in a jewelry store, they’ve snatched up over 960 BTC, a cool $98 million, adding to their already formidable stash. This is no impulsive splurge-it’s a calculated move, part of their grand strategy to convert profits into Bitcoin, as if they’ve read the stars and seen a future where fiat is but a distant memory. 🌌
Why, you ask? Oh, just a tiny little hiccup involving Stream Finance, who managed to blow $93 million, triggering a chain reaction that caused the entire DeFi ecosystem to implode in slow motion. Fun, right? 🙄
Yet, as the old adage goes, not all that glitters is gold-and certainly not all that tweets is true. Let us embark on a journey through the fog of rumor, guided by the lantern of reason. 🕵️♂️
BitMine Immersion, that paragon of fiscal prudence, eschews the traditional crypto model of mining and selling. Instead, it hoards Ethereum like a dragon with a gold stash, treating ETH as a “store of value” with the enthusiasm of a child clutching a candy bar. Its market strategist, Thomas “Tom” Lee, is the kind of man who would bet his last shilling on a horse named “Hope.” 🐴
The charts, those silent oracles of truth, lend credence to his skepticism. Bitcoin’s one-hour structure reveals a hanging midrange, a fragile construct devoid of volume support beneath $101,000. A rejection from $105,000 earlier this week confirmed what DonAlt aptly termed “a market pretending to recover.” Oh, the irony of it all! A recovery as genuine as a three-dollar note. 💸
So, here’s the deal: OKX just dropped the ultimate combo in São Paulo-OKX Pay and OKX Card. What does this mean for you? Well, in simple terms, you can now turn your Brazilian reais into fancy USD-denominated stablecoins faster than you can say “pix” (which, let’s be honest, you probably say a lot). Oh, and that international Mastercard debit card? It’s got your back-spending your stablecoin balance on literally anything, anywhere in the world. 🌎
They’re tellin’ us this’ll show how the ‘market sentiment’ changes over time. Market sentiment! As if the masses have any clue what’s truly brewin’. Still, it’s a bit like askin’ a committee to steer a ship. Amusin’, perhaps, but don’t expect a speedy voyage. First it’s just for Labs users, mind you, those early adopters who have a penchant for fiddlin’ with things…and likely regrettin’ it later. 🧐
Colin argues the 50-day and 200-day moving averages are poised to perform a tango-like waltz-a “golden cross”, if you will. Historically, this dance has marked bottoms like a tourist takes selfies at landmarks. But let’s be honest: it’s less “setback” and more “pause for a chai latte” for Bitcoin.
