Tether Adds Over 8,800 Bitcoin Worth $1 Billion, Boosting Treasury Holdings
Tether Adds Over 8,800 Bitcoin Worth $1 Billion, Boosting Treasury Holdings
Bitcoin Magazine Tether Adds Over 8,800 Bitcoin Worth $1 Billion, Boosting Treasury Holdings Tether purchased nearly 8,889 bitcoin today, adding more than $1 billion worth of the asset to its balance sheet. This post Tether Adds Over 8,800 Bitcoin Worth $1 Billion, Boosting Treasury Holdings first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Welcome to CoinFeedPro
Latest crypto news from key platforms. All in one place.
Todays Sentiment
Bullish
Latest news
Bitcoin Prepares for Another Surge as Whales Buy $329K Bitcoin Hyper in a Day
Stuck below $117K, Bitcoin mostly drifted through September without making much noise. Could things look better in October? Maybe. Three major market shifts are aligning, which could be enough to send $BTC past $120K once again. Early signs of a recovering market are already here, as whales secure Bitcoin Hyper ($HYPER) tokens worth $329K in [âŠ]
- NEWSBTC
Bitcoin Short-Term Holders At Cost Basis: SOPR At 1 Signals Mareket Equilibrium
Bitcoin is once again trading at a critical juncture after a sharp Monday rally pushed the price above the $114,000 level. The surge comes as bulls attempt to counteract days of persistent selling pressure, with momentum beginning to tilt back in their favor. This move marks a potential turning point in the market, signaling that investors are testing whether Bitcoin can hold above this key threshold and establish it as a new base for higher gains. Related Reading: Bitcoin Retail Demand Retreats: 30D Change Falls To Lowest Level Since July Supporting this view, fresh on-chain data from CryptoQuant highlights a notable development in short-term holder behavior. The Short-Term Holder Spent Output Profit Ratio (STH SOPR) has reset to 1, a crucial equilibrium level. At this point, the average sale by short-term holders is occurring at their cost basis, suggesting neither widespread profit-taking nor capitulation. Instead, the market is balanced, with buyers and sellers meeting in a zone of neutrality. This equilibrium often precedes decisive market moves. A sustained push higher could validate the bullsâ efforts to regain control, while failure to hold above $114,000 risks opening the door to renewed downward pressure. Traders and analysts alike are watching closely, as Bitcoinâs next move could define the tone for the weeks ahead. SOPR Signals Market Equilibrium Top analyst Axel Adler highlighted the importance of the Short-Term Holder Spent Output Profit Ratio (STH SOPR) in assessing Bitcoinâs current market state. According to Adler, when this metric hovers around 1, momentum tends to slow because of the delicate balance between buyers and sellers. Any push above the 1 threshold quickly shifts yesterdayâs breakeven holders into profitable territory. As a result, many short-term investors seize the opportunity to sell, which injects additional selling pressure into the market and dampens the strength of upward moves. Adler explained that this dynamic often creates a self-limiting environment for rallies. As Bitcoin rises, more short-term holders lock in gains, fueling waves of profit-taking that prevent the price from sustaining higher levels. This cyclical pattern highlights why the 1.0 mark on SOPR is often referred to as an âequilibriumâ zone: it represents the point where the market resets, and short-term participants face little incentive to either capitulate or aggressively accumulate. For the broader trend to truly accelerate, Adler emphasized the need for a decisive breakout above this equilibrium. Specifically, he noted that a consistent rise in SOPR above 1.002 for several consecutive days would signal a shift in sentiment. Such a development would indicate that sellers are no longer overwhelming the market with profit-taking, allowing buying momentum to build and sustain higher price levels. Until then, Bitcoin remains at risk of choppy, range-bound action, with rallies vulnerable to short-term selling pressure. This perspective underscores the importance of closely tracking SOPR in the coming sessions. While the recent move above $114,000 has revived bullish hopes, the data suggests that without a clear breakout in this critical metric, Bitcoin may struggle to generate lasting momentum. Related Reading: Ethereum Outflows Hit Spot Exchanges Again: Bullish Signal Or Neutral Flows? Bitcoin Tests Resistance as Bulls Eye $117,500 Bitcoin is currently trading around $113,400 after briefly climbing above $114,800 earlier in the session. The chart shows that the $117,500 level, marked in yellow, remains a critical resistance zone that has capped multiple rallies since mid-August. Bulls will need a decisive close above this area to confirm renewed upside momentum. The 50-day moving average (blue) is now acting as near-term resistance, while the 100-day moving average (green) is serving as support. The price recently bounced from this zone, suggesting buyers are attempting to re-establish control. However, the wider structure still reflects consolidation, with BTC trapped between the $110,000 support region and the $117,500 ceiling. Related Reading: Ethereum OI Suffers Its Biggest Cleanup Since Early 2024 â Details The 200-day moving average (red), currently trending around $102,500, remains far below spot price and continues to provide a strong base for the longer-term trend. Until BTC clears the $117,500 barrier, rallies risk fading into selling pressure, keeping price action choppy. Featured image from Dall-E, chart from TradingView
No License, No Problem? Wisconsin Bill Aims To Ease Crypto Rules
Wisconsin lawmakers have introduced a proposal that could reshape how cryptocurrency businesses are treated under state law. The measure, Assembly Bill 471, aims to exempt a wide range of digital asset activities from money transmitter licensing requirements. Related Reading: Historic Kimono Brand Changes Name To âBitcoin Japanâ In Rebranding Move The proposal has been referred [âŠ]
Blackrockâs IBIT Overtakes Deribit as Worldâs Largest Bitcoin Options Venue
Blackrockâs Ishares Bitcoin Trust (IBIT) has surpassed Deribit in bitcoin options open interest, signaling a structural shift as institutional demand and regulated markets take the lead. IBIT Tops Deribit in Bitcoin Options Open Interest Blackrockâs Ishares Bitcoin Trust (IBIT) has officially surpassed Deribit as the worldâs largest venue for bitcoin options, a milestone that underscores [âŠ]
Cathie Wood: âBitcoin Ăš la Criptovaluta Puraâ
Cathie Wood, CEO di ARK Invest, si Ăš costruita la reputazione di una delle piĂč convinte sostenitrici del settore crypto. Nelle sue recenti dichiarazioni, ha chiarito che, pur riconoscendo il valore dellâecosistema Ethereum, la sua convinzione piĂč forte resta rivolta a Bitcoin. Una posizione che non si limita agli ultimi commenti, ma che rappresenta un [âŠ]