At present, dear reader, Bitcoin is exchanging hands at the princely sum of $120,130, a mere stone’s throw from the lofty peak of $122,335 reached last week. Though the short-term trend is as robust as a young gentleman’s constitution, the market is ever vigilant, watching over two significant support zones – at $102,200 and $92,876 – which have served as a gentle cradle during the recent turbulence.
According to the company’s own tellin’, BitMine is sittin’ pretty on a pile of 1.15 million ETH as of August 10th – a stash worth a cool $4.96 billion, if you please! Just a week ago, they had a mere 833,137 ETH, worth a paltry $3 billion. A feller could get lost in all those zeroes, I reckon. Markets, bein’ markets, have reacted faster’n a greased pig at a county fair.
Wall Street is basically doing a TikTok dance to the crypto beat 🕺💸, and everyone’s watching. Nate Geraci, who probably has more ETFs than a stockbroker’s resume, dropped some stats so spicy even a Bitcoin whale would blush. 🐟🔥
Listen closely and you will hear the clatter: for three consecutive dawns the spot-ETF coffers have slurped up a tidy $773 million, a sum grander than the yearly beet budget of seventeen districts. BlackRock’s IBIT now guards eighty billion in shining satoshis-only fourteen more and the golden calf itself begins to perspire with envy.
So, what’s happening? Well, some on-chain signals and charts suggest that sellers may be licking their chops, ready to take their profits. Yes, it looks like we might be in for a short-term breather or a dip. Everything hinges on one crucial support level. Who knew a meme coin could be so… dramatic?
Fear not, dear reader, for BeInCrypto has donned its pointy hat and peered into the crystal ball to bring you three Made in USA coins worth watching. Or ignoring. Your choice. 🧙♂️✨
Pudgy Penguins is soaring 5.20% to $0.0405, making it the cool kid in a sea of struggling meme coins. Dogecoin, Shiba Inu, and Pepe are all taking a nosedive, but PENGU is like the penguin who learned to fly-climbing higher while everyone else is flapping around in confusion. This performance suggests that the meme coin world might be shifting its attention to projects with more oomph and a dedicated fan base. 🚀🎉
Now, with ETH gallivanting over the $4,300 mark and eyeing its all-time high of $4,878 like a hungry dog eyeing a particularly juicy steak, one must ponder: could this flippening actually occur? 🤔
Now, let’s dive into the heart of the matter. According to a recent CryptoQuant Quicktake post by the ever-insightful ShayanMarkets, the average executed order size in the Bitcoin futures market has taken a nosedive over the past few months. This, dear reader, is a sign that the recent price surge is being fueled not by the mighty whales but by the humble retail investors. Think of it as a digital David versus Goliath, where the little guy is calling the shots.
The price action of Bitcoin and Ethereum, one might say, is less a market trend and more a moral lesson for those who dare to bet against them. Eric Trump, with the eloquence of a man who has never met a meme he didn’t monetize, declared on X: “It warms my heart to witness ETH shorts meet their demise today. To bet against BTC and ETH is to invite the wrath of the market gods.” A sentiment as profound as it is profitable.
