Bitcoin Pricing in 'Most Bearish Global Growth Outlook' Since Covid and FTX Crash: Bitwise Research

China announces that Bitcoin and cryptocurrencies have no legal status and calls for strengthened regulatory enforcement of related speculative activities. （Bitcoin Archive）

Despite low sentiment and falling prices, Bitwise’s André Dragosch says bitcoin is trading as if a recession is imminent, while macro growth expectations are already improving.

[Prenetics Bitcoin Holdings Increase to 504 BTC, Executive Team Repurchases 60,000 Shares] Nasdaq-listed company Prenetics disclosed an additional purchase of 6 Bitcoins this week, bringing its total Bitcoin holdings to 504 BTC. Bitcoin's year-to-date return stands at 435%. The company's CEO Danny Yeung stated that the executive team has invested $1.45 million to repurchase approximately 60,000 company shares from the open market.

[Machi Big Brother Huang Licheng Adds 8,400 ETH Long Position and Places Multiple Sell Orders] According to Hyperbot data, 'Machi Big Brother' Huang Licheng increased his 25x leveraged Ethereum long position to 8,400 ETH an hour ago, with a liquidation price of approximately $2,882. At the same time, he reduced his 10x leveraged HYPE long position to 215,000 HYPE, with a liquidation price of approximately $30. Additionally, Huang Licheng has placed a limit sell order at the $3,030 price level and currently has a total of 11 ETH sell orders in the $3,010-$3,100 range, as well as 4 HYPE sell orders in the $36-$37 range.

The large transaction data in the past 12 hours shows that the main funds have shown a clear trend of short selling, with a total selling amount of $64.6 million and a net outflow of $1.45 million. Especially at 17:01, a large market price sell order of $4.07 million appeared, directly suppressing the price to $90617. Based on the current candlestick pattern, the price is below the EMA24/52 moving average, confirming the downward trend. Despite the double bottom pattern of KDJ golden cross and RSI at 17:00, trading volume continues to shrink, market activity decreases, and rebound momentum is insufficient. The large transaction indicator accurately captures the main trend and helps you lock in risks in advance. Take the lead in mastering the main capital flow and unlock large transaction indicators by opening up members! The data is sourced from the PRO member's [BTC/USDT Binance 1-hour] candlestick, for reference only, and does not constitute any investment advice.