Tag: Buy

BitMine continues ETH accumulation with 41K buy as unrealized losses top $6B

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BitMine Immersion Technologies is continuing its ETH accumulation strategy, acquiring 41,788 ETH worth roughly $96 million last week despite a sharp weekend selloff that pushed Ethereum below $2,200. The decline dragged BitMine’s Ethereum portfolio below $9.5 billion in market value, leaving the firm with more than $6 billion in unrealized losses. Ether has since rebounded to around $2,350 by Monday midday, offering partial relief after the drawdown. BitMine now holds approximately 4.3 million ETH, representing about 3.55% of Ethereum’s circulating supply. Based on company disclosures, the firm’s average ETH acquisition…

Binance Begins $1B SAFU BTC Conversion With First $100M Buy

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Binance has kicked off its $1 billion SAFU conversion into Bitcoin with a $100 million purchase, shifting its user protection fund out of stablecoins and into BTC. Crypto exchange Binance has bought its first 1,315 Bitcoin as part of its conversion plan for the Secure Asset Fund for Users (SAFU). The Bitcoin (BTC), worth $101 million, was bought for an average price of $77,409.89 per coin, according to data from Blockchain.com. Binance says it expects to shift the rest of SAFU’s $1B from stablecoins to Bitcoin within the next 27…

‘Better Opportunity to Buy’ BTC Than 2017

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Bitcoin (BTC) fell to a record low versus gold (XAU) in January, making it a better buying opportunity than what preceded the 2015–2017 bull market, analysts say. Key takeaways: BTC vs gold hit a record low, a level that has lined up with past major bottoms. Some analysts warn that a rotation to BTC from gold is not guaranteed. Gold-to-Bitcoin rotation could start in February On Saturday, Bitcoin’s value compared to gold fell to its lowest level ever after adjusting for the global money supply, data from Bitwise Europe showed.…

TD Sequential Flashes Buy Signal For XRP On Key Price Condition

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Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency. Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems. In two years of active…

Will Bulls Buy The Dip?

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Key points: Bitcoin is attempting a recovery, but higher levels are likely to attract solid selling by the bears. Several major altcoins are at risk of breaking below their support levels. Bitcoin (BTC) bounced off the $86,000 level, but the bulls are struggling to sustain the higher levels. That shows selling on rallies. Although analysts are divided about the near-term prospects of BTC, Binance co-founder Changpeng Zhao said in an interview with CNBC that BTC could witness a super cycle in the next 12 months. In contrast, Bloomberg Intelligence strategist…

Vivek Ramaswamy’s Strive plans to raise $150M in preferred stock sale to buy Bitcoin and repay debt

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Vivek Ramaswamy-backed Strive announced Wednesday that it plans to raise $150 million through a follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA Stock). The Dallas-based company expects to use the net proceeds, together with existing cash, to reduce outstanding debt, acquire Bitcoin and Bitcoin-related products, and support corporate growth. The offering reflects Strive’s strategy to optimize its balance sheet while advancing its Bitcoin-focused investment approach. The announcement follows shareholder approval last week for Strive’s acquisition of Semler Scientific. The deal, which is expected to close in…

Will Traders Buy The Dip?

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ETH sold off at the weekly open, but its net taker volume metric turned positive for the first time in years. Will bulls take notice of the signal and attempt to press Ether price higher? Ether (ETH) derivatives data has begun to highlight a structural shift. After nearly three years of sell-side dominance, ETH’s net taker volume has turned positive, possibly pointing to renewed interest from futures traders. Key takeaways: ETH Net Taker volume reached $390 million since Jan. 6, the largest buy imbalance since January 2023. Since 2023, positive…

BTC Bulls Defend $90K as Hash Ribbons Signal Long-Term Buy Opportunity

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Bitcoin’s (BTC) leading indicators flashed buy signals as bulls fought to keep the price above $90,000. Key takeaways: Bitcoin Hash Ribbons flashed a “buy” signal amid miner capitulation recovery, an occurrence that has historically preceded strong rallies. The Fear and Greed Index’s “golden cross” signals improving market sentiment and a potential BTC rally ahead. Bitcoin must hold $90,000 to avoid a bear market scenario.  Bitcoin Hash Ribbons, sentiment index flash “buy” Bitcoin miner performance is still telling market participants to buy as sentiment begins to shift across the market. Hash…

Optimism Proposes Using 50% Of Superchain Revenue To Buy Back OP Tokens

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The Optimism Foundation has floated a major shakeup to the dynamics of the layer 2’s OP token, proposing to allocate 50% of its Superchain revenue to regular buybacks of the asset.  Optimism Grants council member Michael Vander Meiden shared the proposal via X on Thursday, highlighting that “after many years of being a ‘useless gov token’ the value of the OP token will finally be tied to network activity.” The proposal was initially submitted in the Optimism governance forum on Wednesday. It outlines a plan to direct 50% of incoming…

Bank of America Says Coin a Buy and Could Rise 38%

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Bank of America has joined Goldman Sachs in lifting Coinbase from “neutral” to “buy” this week, citing Coinbase’s lead role in bringing the financial system on-chain and becoming an “everything exchange.” In a research note released on Thursday, BofA said Coinbase’s expansion from trading to tokenizing real-world assets, including stocks and exchange-traded funds, as well as its move into prediction markets, is positioning it to cross-sell more products to new and future users and lead a “new financial system.” “While the stock is off 40% from its July highs, under…