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jimmy

@dfn

1839 Following
385 Followers


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@dfn Grayscale research director Zach Pandl stated that despite temporary resistance in macroeconomic data, the price outlook remains' structurally bullish '. On January 10th, the US employment report was positive, as the expected pace of interest rate cuts slowed down and the US dollar rose, causing BTC spot prices to fall below $93000. Pandl stated, "Bitcoin seems to be suppressed by the strengthening of the US dollar, which is rising due to the Federal Reserve's more aggressive policies and the threat of tariffs. Today's strong employment report reduces the possibility of a Fed rate cut, further supporting the US dollar and potentially putting temporary pressure on Bitcoin prices. However, with the upcoming inauguration ceremony of the US President, this setback may be short-lived." Zach Pandl added that he still believes that "the outlook for cryptocurrency valuation is structurally bullish. @hupzzz
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According to data compiled by TheBlock, Polymarket, a market platform, achieved exponential growth in multiple indicators for 2024, including active traders, trading volume, and open interest (OI), reaching historical highs earlier this year. The platform has accumulated a trading volume of over 9 billion US dollars, with monthly trading volume reaching a historic high of 2.63 billion US dollars in November alone. The number of active traders reached a new high of 314500 in December, while open interest (OI) reached a historic high of $510 million during the November US election period. The monthly trading volume growth rate of Polymarket for the whole year was 66.5%. In January 2024, Polymarket's trading volume was only $54 million, but by November, this number had risen to over $2.6 billion, an increase of nearly 48 times within a year. @rdiecoal
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