OKX-BTC/USDT is currently trading at $99000.00, with a 24-hour increase of 1.11%. Please be aware of market fluctuations.
On Wednesday, centralized exchanges registered a net outflow of over 17,000 BTC, worth more than $1.6 billion at the going market price of $98,600, according to Glassnode data shared by Andrew Dragosch, head of research Bitwise. That's the biggest single-day exodus of coins since April 2024. See all newsletters"Whales are buying this dip," Dragosch said on X, referring to the large outflow of coins. Investors typically take direct custody of coins when planning to hold them for the long term. Hence, a large outflow of exchanges is taken to represent bullish sentiment. Note that blockchain data, though widely used to assess market conditions, can be skewed by internal wallet transfers by exchanges.Coinbase alone processed net withdrawals of over 15,000 BTC, per Dragosch. Analysis by Timechainindex.com shows Coinbase on Wednesday split four addresses totaling over 20K BTC into 60 addresses, which hints at a possible major purchases by ETFs or MicroStrategy this week. On-chain data compiled by CryptoQuant shows that all crypto exchanges had a cumulative negative netflow of 47K BTC on Wednesday, with 15.8K of that being attributed to Coinbase.Bitcoin fell below $96,800 during Wednesday's late U.S. trading hours only to turn higher early today after Eric Trump, the Son of President Donald Trump, encouraged the family-linked crypto platform World Liberty Financial to make its first bitcoin investment.
Strategy (MSTR) expects its convertible preferred stock Strike (STRK) to be listed on Nasdaq on Thursday, according to a slide in its earnings presentation.See all newslettersStrategy, formerly known as MicroStrategy, also introduced new performance metrics when it reported fourth-quarter earnings after the market closed on Wednesday. The Tysons Corner, Virginia-based company reported a loss of $3.03 per share. It did not adopt Financial Stability Accounting Board (FASB) rules, which would have avoided a $1 billion impairment loss. Those will be adopted this quarter, the company said. Among the new key performance indicators, is an 2025 bitcoin (BTC) gain of $10 billion. So far this year, it's achieved $1.24 billion. A second KPI is a bitcoin yield of 15%; year-to-date it's 2.9%.Strategy has used about $17 billion out of the $21 billion at-the-market (ATM) equity program so far. In the earnings presentation, the company alluded to the share sales being just 2.9% of the total cumulative trading volume, with Nov. 11-15 being the highest percentage of total trade volume of any week at 7%.Shares of the company were recently 1.3% higher in pre-market trading.
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Odaily Planet Daily News: According to data from the Salvadoran Reserve Bank, since October 2024, less than 1% of the total amount has been remitted to the country using cryptocurrency. Its president Nayib Bukele has stated that traditional financial institutions charge up to 25% of transaction fees for remittances, while the official digital wallet Chivo can achieve zero transaction fees, but cryptocurrency remittances have not been widely adopted among the country's Americanized population. According to the agreement reached with the International Monetary Fund (IMF), the Salvadoran government will terminate or sell Chivo's operations and revoke Bitcoin's legal tender status to reduce its share in the economy.