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Insights
Grayscale witnessing a double halving as Bitcoin holdings fall to 310k OG Bitcoin holders or ‘King’ Fish retain $15k cost basis after buying the dip Bitcoin’s April plunge: On track for worst month since August down 11% Short-term holders spark Bitcoin sell-off: Over $2 billion shed at loss to exchanges BlackRock continued inflows narrow gap: just 37,781 BTC separate IBIT from GBTC
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 · 11 months 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 “in principle” 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

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
Grayscale witnessing a double halving as Bitcoin holdings fall to 310k

Grayscale witnessing a double halving as Bitcoin holdings fall to 310k

13 hours ago
OG Bitcoin holders or ‘King’ Fish retain $15k cost basis after buying the dip

OG Bitcoin holders or ‘King’ Fish retain $15k cost basis after buying the dip

Data via Glassnode 18 hours ago
Bitcoin’s April plunge: On track for worst month since August down 11%

Bitcoin’s April plunge: On track for worst month since August down 11%

Data via Glassnode 2 days ago
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Dial H for Halving: Unpacking the technicalities of Bitcoin’s halving
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CryptoSlate's latest market report dives deep into the Bitcoin halvings, exploring its technical underpinnings, the historical context of previous halvings, and their long-term impacts on the network.

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.

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Bitcoin BTC (24h)
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