Crypto

A whale's recent deposit of 1,200 Bitcoin into the Kraken exchange has sent shockwaves through the cryptocurrency market, raising concerns about a potential price correction. This significant transaction, worth approximately $77.67 million, comes just 43 minutes before the report and follows a period of extensive accumulation by the same whale.

Pseudonymous trader Tim challenges the prevailing bearish sentiment surrounding Bitcoin, highlighting its impressive 14-month rally and healthy consolidation phase as indicators of a continued bull run. He emphasizes the importance of a long-term perspective and patience, encouraging investors to adopt a "zoom out, perspective, patience" approach.

Renowned crypto analyst Michaël van de Poppe expressed skepticism about the likelihood of an Exchange-Traded Fund (ETF) approval for Ethereum ETH/USD, noting low chances despite potential price increases. Van de Poppe highlighted the resilience and strength of the Ethereum ecosystem in his social media posts.

Edward Snowden criticized the U.S. Department of Justice's actions against app developers, particularly advocating for financial privacy in a social media post. This came after the recent arrest and charges against the founders and CEO of a cryptocurrency mixing service, highlighting the ongoing debate around financial privacy in the cryptocurrency realm.

Jack Dorsey, CEO of Block Inc and co-founder of Twitter, introduced a new feature where Square merchants can convert a percentage of their daily sales into Bitcoin. This feature allows transfers of 1-10% of daily sales to personal Cash App accounts, converting the amount into Bitcoin at the end of the day.