Ad
CryptoSlate on X
Follow us on X for instant crypto news and insights updates.
Follow @cryptoslate
 Ad
Insights
US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees Ethereum falls to 4-year low against Bitcoin as BTC breaks above $94k Bitcoin ETFs record over $1 billion inflow in 2 days as new price peak boosts investments
Bitcoin breaks $28k threshold on debt ceiling decision, whales continue to accumulate Bitcoin breaks $28k threshold on debt ceiling decision, whales continue to accumulate James Van Straten · 1 year ago
Insights Bitcoin

Bitcoin breaks $28k threshold on debt ceiling decision, whales continue to accumulate

Data via Glassnode

BTC reclaims $28,000 following debt ceiling news and $118M of liquidations

James Van Straten / @jvs_btc / May. 29, 2023 at 12:07 am UTC

Quick Take

Bitcoin whales accumulate

  • After slowing down accumulation, Bitcoin whales that hold 10,000 or more continue accumulating Bitcoin aggressively over the weekend.

Debt ceiling update

According to The Kobeissi Letter, “news that the debt ceiling deal was reached โ€œin principleโ€ last night,” as Bitcoin broke $28,000. They further go on to explain: “The debt ceiling is rumored not to be raised by a specific amount, and the debt ceiling will run uncapped until January 1st, 2025”.

Crypto Liquidations

  • In the past 24 hours, crypto has seen over $118 million in liquidations
Coinglass Liquidations
Total Liquidations (Source: Coinglass)
Accumulation: (Source: Glassnode)
Accumulation: (Source: Glassnode)
Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.

Latest Insights
US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders

US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders

55 mins ago
Bitcoin surges to $97k as market leverage hits historic $63 billion

Bitcoin surges to $97k as market leverage hits historic $63 billion

Data via Glassnode 18 hours ago
Memecoin revival drives Solana DEX Raydium past Tether in fees

Memecoin revival drives Solana DEX Raydium past Tether in fees

2 days ago

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

In this insight

Bitcoin BTC (24h)
$98,804.90 +3.12%
Vol: $104.93B MCap: $1.95T

Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.

More about Bitcoin

Featured Data Partner

Make better trading decisions with Glassnode

Most Viewed

 Ad
CryptoSlate on Substack cryptoslate.substack.com
Daily digest of top crypto stories and market insights. Never miss out.
Join 90k+ subscribers