This strategic move comes just as the crypto market is on one of its infamous rallies. And lo and behold, the stocks of those very companies Ark is ditching are also riding high—because why wouldn’t they? It’s like selling an antique at an auction and then watching its value skyrocket on eBay. 🙄
The spot market is flexing its muscles, but the options market? Oh, it’s acting like a shy kid at a school dance, with institutional investors hanging back and twiddling their thumbs instead of jumping in. Talk about a moody crowd.
But let us not get ahead of ourselves. The price of PEPE, that most mercurial of tokens, shot up 14% over the last 24 hours, driven by large-scale buying and a broader rebound across the cryptocurrency space that saw bitcoin top the $118,000 mark. 🤑
The joke cryptocurrency has risen 18% this month, its best performance since November, with prices gaining over 7% in the past 24 hours alone, according to CoinDesk data. The rally is consistent with the increased risk-taking in the crypto market triggered by bitcoin’s rally to lifetime highs above $118,000. It’s like the entire crypto world decided to throw a party, and SHIB got the invite. 🎉
In a missive from Matthew Sigel, the sage of VanEck’s Digital Assets Research division, Bitcoin has taken the top spot in a pecking order of currencies that are measured against the ever-stalwart U.S. dollar. Yes, you heard right! It has outperformed the Swiss franc, the euro, and even the stoic Japanese yen; you might say it has kicked them all to the curb. 😏
With 706,400 followers on the social media platform X, Kaleo is no stranger to making bold predictions. He asserts that a $500,000 Bitcoin price is a “magnet” based on the logarithmic regression channel. A logarithmic regression channel, for the uninitiated, is a tool used to identify the long-term trend of an asset that experiences exponential growth at first, only to slow down as it matures. 📈
According to the blockchain analytics firm Arkham, Satoshi’s net worth has increased significantly (more than $4 billion) when the Bitcoin price soared on Thursday, putting him ahead of Amancio Ortega, the creator of fashion behemoth Zara.
Bitcoin (BTC), that enigmatic beast, climbed close to a staggering $120,000. Meanwhile, the crypto Fear and Greed Index boldly strutted its stuff, nestling comfortably in the greed zone at a score of 65, as if it were a satisfied cat basking in the sun. The grand total of market capitalization soared above $3.6 trillion. Can you say “wealth redistribution”? 🎭💰
He didn’t mention just Bitcoin, but also included major altcoins like Bitcoin, Ethereum, Dogecoin, Shiba Inu, XRP, Cardano, and Solana. His overly bullish message has the crypto crowd buzzing, who are calling for a continued market rise. 📈
Hyperliquid [HYPE] surged by 8% in the last 24 hours as of press time, while HYPE’s volume rose by 60%, as per CoinMarketCap. Oh, what a difference a day makes, doesn’t it?