MicroStrategy has increased its holdings by approximately $1.5 billion, acquiring 15,400 BTC, bringing its total Bitcoin holdings to 402,100 BTC, with a total purchase cost of about $23.4 billion and an average purchase price of approximately $58,263.
According to FOX Business reporter Eleanor Terrett citing sources, Trump is expected to announce the successor to the SEC chairman as early as tomorrow.
The U.S. government transferred Bitcoin last night, which may not have been sold yet. It plans to distribute the funds in batches from different wallets or may have already been taken by an institution through OTC transactions, without flowing into the secondary market.
Bitcoin
Bitcoin has been experiencing high-level fluctuations. Last night, MicroStrategy announced the acquisition of 15,400 BTC, while early this morning, the U.S. government transferred 19,800 BTC, approximately $1.92 billion. The price quickly surged from 94,700 to 97,356 and then rapidly fell back to 94,395 for consolidation. Therefore, as we previously predicted, this rapid surge will likely be followed by a period of high-level consolidation, similar to the trend in December 2023.
The daily chart is still supported within the rising channel, and the price closed above 94,600, but this is not a stage bottom. If it retraces to 90,800 and finds support, it could be considered for a long position targeting around 98,000. This period of high-level adjustment will last until the end of the month, two weeks before Trump takes office, coinciding with the anticipated Chinese New Year red envelope market.
Support: Pressure:
Ethereum
Ethereum dipped to 3,556 yesterday. If the rebound cannot break through and create a new high, the probability of a pullback increases. It has formed a 123 pattern. We have previously reminded friends who are chasing altcoins after the rally to only operate short-term and secure profits.
The altcoin season indicator has reached 80, and historically, when it approaches 98, the probability of a decline is high. So, everyone should take advantage of this altcoin season. The total market cap of altcoins (Crypto Total Market Cap Excluding BTC & ETH) is nearing the high point of November 2021, so in 1-2 weeks, the altcoin indicator will peak. For altcoins, select a few that are at relatively low levels and may see a rebound, such as ZETA, AR (mentioned before), ALT…
Support: Pressure:
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