Andy_88

#CelebratingNewYearOnGateSquare 💥 BlackRock: Asia Could Bring $1 Trillion to the Crypto Market
The head of BlackRock's Asian division stated that if investors in the region allocate just 1% of their portfolios to crypto, the market could see an inflow of about $2 .
This is nearly 60% of the entire current market capitalization of the crypto industry.
Already, managers in Asia are beginning to allocate minimal crypto holdings, and local investors are actively entering American crypto ETFs.

#CelebratingNewYearOnGateSquare 👛 Elon Musk discusses the progress of X Money development
In the next two months, X Money — a payment service for the social network X — will launch in a limited beta.
🤑 According to Elon Musk, X Money is already operating in a "closed beta within the company."
The service will be integrated into the social network as part of the "everything app" concept.

#CelebratingNewYearOnGateSquare 🏦 Denmark's largest bank has permitted investing in BTC
Danske Bank has opened access for clients to ETPs on Bitcoin and Ethereum.
📈 You can purchase through exchange-traded products – without direct custody of the cryptocurrency.
Cryptocurrencies had been banned by the bank for the past eight years.

#CelebratingNewYearOnGateSquare ‼️ Bitcoin tests support at $66 000
🟠 On February 11, the total market capitalization of cryptocurrencies fell by more than 3%, with Bitcoin and Ethereum losing over 4%. BTC dropped nearly $66 00, and ETH fell to $1920.
The sell-off intensified ahead of the release of US labor market data, which will be significant for the Fed in setting interest rates, potentially increasing volatility.
✅ The data indicates weakening selling pressure and a similarly weak rebound. Bitcoin may lack the momentum to reach $70 000, and the $69 000 level will become an important zon

#CelebratingNewYearOnGateSquare ‼️ Bitcoin is trading as a growth asset, not digital gold: Grayscale
🟠 A new Grayscale study shows that Bitcoin's price behavior is increasingly correlated with the stocks of software development companies, calling into question its reputation as a "safe haven" and "digital gold."
➡️ The analysis revealed that Bitcoin has developed a strong correlation with stocks in this segment since the beginning of 2024.
However, the mismatch between Bitcoin's status as a safe asset, according to Grayscale, should not be viewed as a failure but rather as part of the ongoing

#CelebratingNewYearOnGateSquare 🚀 Founders of Farcaster to Strengthen Tempo Blockchain
📈 The founders of the social network Farcaster, Dan Romero and Varun Srinivasan, announced their transition to the crypto startup Tempo, which specializes in stablecoin payments.
➡️ It is reported that the entire Merkle Manufactory team, previously working at Farcaster, will join Tempo. The transition is related to the sale of the social network to Neynar.
At the same time, Tempo, funded by Stripe and Paradigm with $500 million, is in need of qualified personnel to scale globally.

#CelebratingNewYearOnGateSquare ‼️ Bernstein confirms the target price of Bitcoin at $150 000
🟠 Bernstein analysts stated that the recent decline in Bitcoin reflects a "self-created trust crisis," rather than structural damage, calling it "the weakest bearish market scenario" in the asset's history.
➡️ Based on this, Bernstein confirmed the BTC target price at $150 000 in their latest investor note.
Meanwhile, experts continue to discuss the reason for Bitcoin's recent drop to $60 000. One theory is the weakening of the Japanese yen as a long-term factor and the flow of investments into Japan

#CelebratingNewYearOnGateSquare
🐋 Kith lost $100 million on ETH volatility
One of the major traders yesterday lost about $100 million on an Ethereum position in 13 minutes.
The market has been very volatile in recent days: liquidity is thin, movements are rapid, and mistakes are unforgiving.
Before entering trades, assess the risk, leverage, and liquidation levels — these are everything right now.

🟠 Jack Dorsey Announces Layoffs
📉 Jack Dorsey's Payment Company Block Inc. has begun informing employees about potential job cuts during the annual performance reviews.
✅ It is reported that the layoffs could affect up to 10% of Block's approximately 11,000 employees.
Against this backdrop, Block Inc. shares rose by 5% to $56, as the layoffs are expected to help reduce costs if the company can successfully restructure and align its product lines.

💵 Tether helped Turkey confiscate $544 million in USDT
🚨 Tether CEO Paolo Ardoino stated that his company assisted Turkish authorities in seizing assets related to illegal betting platforms worth more than $500 million.
“We were approached by law enforcement, provided with some information, reviewed it, and acted in accordance with the country's laws,” Ardoino said.
➡️ This concerns the business of gambling magnate Weisel Shahin, who is accused of operating illegal betting platforms and money laundering.
Tether claims to have assisted law enforcement in over 1800 cases across 62 countries,

‼️ Bitcoin could face a drop of up to 70%
Crypto analyst Sherlock suggested that Bitcoin could correct by up to 70% from its all-time high amid worsening market conditions.
👉 In his assessment, the current dynamics are within the range of previous cycles.
Currently, BTC is trading near $67 000, having lost more than 20% over the past week.

⁉️ Why Bitcoin Has Gone Out of Control
🟠 Discussing the Bitcoin crash with Bloomberg, Galaxy Digital CEO Mike Novogratz admitted that Bitcoin shouldn't have behaved this way and "something went wrong."
➡️ But he hopes that the bottom has already been reached, and the new price range for BTC is $70 000 – $100 000.
However, well-known investor Michael Berry disagreed with Novogratz and warned that BTC has no bottom and is in a "death spiral."
📉 Meanwhile, U.S. Senate candidate John Diten blamed traditional finance for the BTC crash, claiming they suppressed its price using futures.

🚀 Opera MiniPay integrates Tether stablecoins
🔼 The developer of the Opera browser family, Opera Ltd, announced reaching 12 million users of its crypto wallet MiniPay, which allows transferring stablecoins from smartphones without using separate crypto applications.
💵 The rapid increase in MiniPay user registrations in Africa, Latin America, and Southeast Asia began after adding USDT and the gold stablecoin XAUT from Tether to the crypto wallet.
Following the announcement of USDT and XAUT integration, Opera's shares on Nasdaq jumped 15% to $14.30.

🔽 The Strategy Portfolio has gone into the red
The average entry price of the Strategy in Bitcoin is 0.1928374656574839201037, and at current market rates, the company's portfolio has become unprofitable.
Currently, unrealized losses of the Strategy are estimated at approximately 0.1928374656574839201 million — a rare moment when the company's aggressive BTC strategy has temporarily entered the "red zone".

🚀 Canton Network defied the trend by updating the ATN
🔼 Against the backdrop of a dramatic cryptocurrency market crash and Bitcoin falling to $78 000, Canton Network (CC) was the only token to update the ATN this Saturday.
➡️ CC surged nearly 12% to $0.193 before correcting to $0.18, trading slightly up for the day.
The network rally for RWA tokenization is fueled by numerous partnerships with major market players such as Goldman Sachs and BNP Paribas. As a result, some investors have begun to view CC as a safe haven asset.

🟠 Bitcoin falls behind Aramco and TSMC
📉 The fall of Bitcoin below $83 000 has pushed it out of the top 10 global assets by market capitalization
According to Crypto Crib, a decrease in market cap to $1.65 trillion places Bitcoin just behind the oil company Saudi Aramco and the largest chip manufacturer Taiwan Semiconductor Manufacturing Co. (TSMC).
On the other hand, gold, after a record surge, has taken the top spot with a significant lead, strengthening its position as the largest asset in the world.

The American company Bit Digital announced that it is gradually ceasing BTC mining and shifting to an Ethereum treasury strategy and Ethereum staking. It also plans to sell mining assets and transfer part of its Bitcoin reserves to ETH.

‼️ The British court has recognized RuneScape gold coins as property
🇬🇧 According to the appellate court's decision, virtual gold in the popular online game RuneScape can be considered property, whereas the previous court ruled that in-game coins are not "competitive" because their quantity is unlimited.
🟠 The defendant – a former employee of the game developer company Jagex – allegedly stole 705 billion in-game coins and then sold them for BTC and fiat money totaling $748 385.
As a result, the court recognized in-game money as "assets with a definable monetary value that can be sold for th

‼️ Bitcoin ETF halts weekly outflow of $1.72 billion
🟠 Bitcoin ETFs started this week with a net inflow of $6.8 million, ending a five-day outflow totaling nearly $1.72 billion.
✅ According to Farside Investors, the biggest gains were seen in IBIT from BlackRock and Grayscale BTC, which attracted $15.9 million and $7.7 million respectively, while some other funds lost money.
The reversal occurred against the backdrop of Bitcoin's price dropping to around $87 815. But if the inflow increases, the price could rise a little more.