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“Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale,” Zhao said on Feb. 17 on X. “As a shareholder, Binance is not for sale.”
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Binance co-founder and former CEO Changpeng Zhao denied rumors that the cryptocurrency exchange is up for sale.
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Despite losing to Ether in weekly inflows, Bitcoin continues to lead overall with year-to-date inflows of nearly $6 billion — 505% higher than Ether’s YTD total.
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In the past trading week, Bitcoin ETP inflows tumbled around 19% from inflows during the previous week, totaling $407 million.
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Based on its correlation with the global liquidity index, Bitcoin’s right-hand side (RHS), which marks the lowest bid price someone is willing to sell the currency for, should peak near $110,000 in January before falling below $70,000 by February.
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Bitcoin is set for a “local top” above $110,000 in January before an “interim peak in liquidity” may lead to a deeper correction, according to Raoul Pal, founder and CEO of Global Macro Investor. Pal shared his analysis in a Nov. 29 X post.
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The figures reflect a recovery from 2023 when crypto firms received $10.1 billion in VC funding. However, the industry is still far behind its 2021 peak, when crypto startups secured $32.4 billion.
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Venture capital funding into blockchain-based startups reached $13.6 billion in 2024, according to data from the DeFi Report. This amount represents 4.9% of the total $279 billion in venture capital investments for the year.
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According to He, Bitcoiners could soon generate annual returns of up to 40% on their holdings.
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That appears to be the case with Bitcoin prices in the last 24 hours as the ratio treads around 2.5.
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“A prudent strategy when using this indicator is to take moderate profits once the S2F reversion ratio hits 2.5 and to secure larger profits when the ratio exceeds 3,” said CryptoQuant analyst DarkFrost.
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Conversely, when the S2F reversion ratio drops below 1, it indicates a buy signal. For instance, on Sep. 11, the metric fell below 1, which followed a sharp Bitcoin price rebound.
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Historically, when the S2F reversion ratio rises above 2.5, it has often marked levels where the market shows signs of potential short-term corrections. When the indicator breaches 3, it suggests the market is overheating, often coinciding with local tops and periods of heightened volatility.
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The Stock-to-Flow (S2F) Reversion indicator is signaling cautious profit-taking as Bitcoin's price trades near a new record high.
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“We expect this week’s FOMC to contribute to the market’s volatility,” K33 Research analysts Vetle Lunde and David Zimmerman wrote in a note, adding:
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Bitcoin’s decline is further due to an unclear Fed rate path ahead, with K33 Research analysts Vetle Lunde and David Zimmerman noting that the central bank may pause rate cuts in the coming months.
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Bitcoin’s price surged by up to 13.20% since the CPI data release on Dec. 11, with its correction now reflecting a “sell-the-news” sentiment in the market.
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The Fed will likely vote for another quarter-point rate cut on Dec. 18, especially in the wake of last week’s consumer price index, which showed inflation rising in November.
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The decline appears ahead of the United States Federal Reserve’s key interest rate decision, suggesting most Bitcoin traders are de-risking ahead of the event.
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The SEC features a board of five commissioners. At present, the list of SEC commissioners includes two Republicans — Peirce and Uyeda — and three Democrats, Caroline Crenshaw, Gary Gensler and Jaime Lizarraga.
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