Bitcoin News Update: Top Executives Accumulate ETH and BTC During $1.1B Sell-Off, Highlight 100x Growth Opportunity
- Bitcoin fell below $90,000 amid $1.1B liquidations, with BitMine/Bitwise executives predicting long-term "supercycles" for BTC/ETH despite short-term volatility. - BitMine added 54,156 ETH ($170M) to holdings, while Hyperscale Data bought 59.76 BTC via dollar-cost-averaging, signaling institutional confidence in crypto's value. - ETF outflows ($870M in one day) and LTH selling (815,000 BTC in 30 days) highlight bearish fundamentals, with $102,000 as critical support for Bitcoin. - Fed officials' cautious
On Friday, Bitcoin slipped under $90,000, continuing its downward trend in a turbulent market as speculation grows that a bottom could be reached in the coming weeks. Leaders from BitMine and Bitwise, two prominent names in the cryptocurrency industry, expressed measured optimism. Tom Lee of BitMine forecasted a prolonged "supercycle" for
BitMine Immersion Technologies, a publicly listed Ethereum treasury company, acquired an additional 54,156 ETH (valued at $170 million) last week, raising its total holdings to 3.559 million ETH—almost 3% of all ETH in circulation.
At the same time, companies focused on Bitcoin are increasing their investments. Hyperscale Data, an AI-driven data center firm,
Market indicators continue to show a bearish trend.
Statements from Federal Reserve officials have also influenced investor sentiment.
Despite short-term volatility, underlying growth drivers remain.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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