[Morning News Briefing] Whale Alert detects transfer of 145.19 million USDT from Kraken to Bitfinex and more

Whale Alert, Detection of 100M USDT transferred from Kraken to Bitfinex

According to Whale Alert, 100M USDT (approximately $5.19M) was transferred from Kraken to Bitfinex. A large-scale movement of stablecoins between exchanges was detected, but the exact purpose has not been confirmed.

This transfer occurred on the Ethereum network. Large-scale stablecoin movements between exchanges are often for liquidity rebalancing or trading preparations, leading to speculation about short-term supply and demand fluctuations.

Cryptocurrency futures market liquidated $143 million in the past 24 hours

PANews reported, citing CoinAnk data, that a total of $5.14M in liquidations occurred across the entire cryptocurrency futures market in the past 24 hours. Among these, short positions accounted for $100M, and long positions for $50.4978 million.

By asset, Bitcoin (BTC) liquidations totaled $30.6448 million, and Ethereum (ETH) liquidations totaled $100M. The larger proportion of short position liquidations suggests that during the short-term price rebound, short positions were more significantly closed out.

Michael Saylor did not make additional Bitcoin purchases last week

It was reported on the 3rd (local time) via X that Michael Saylor did not make additional Bitcoin purchases last week.

Bitcoin historian account cited a post from Calci Crypto, indicating that Saylor did not buy Bitcoin and has returned to his usual activities. The post implied that Saylor’s lack of buying activity was noted after he previously purchased Bitcoin.

As a prominent Bitcoin bull in the market, Saylor’s buying behavior has attracted investor attention. However, this report is based on an X post rather than an official announcement.

Bitwise, signals that Bitcoin target price has been raised to $2.3 million

Bitwise reportedly stated that its Bitcoin (BTC) target price has been raised to $2.3 million. The firm advocates viewing Bitcoin as both a store of value and a currency, and suggests that related forecasts should be generally revised upward.

On the 3rd (local time), Pete Rizzo announced via X that Bitwise has increased its Bitcoin price target to $2.3 million. He described Bitcoin as now being both a store of value and a currency, and that existing estimates should be adjusted higher.

However, this information is based on social media quotes, and no specific report name or calculation basis was provided.

Adam Back: National Bitcoin accumulation signals success, not conflict with Bitcoin philosophy

Adam Back, known as an early developer of Bitcoin, stated that national-level Bitcoin accumulation and support expansion are not in conflict with Bitcoin’s philosophy but are signals of success.

According to WuBlockchain, Back said in an interview with Cointelegraph that technologies that shift the balance of power, like the internet and cryptography, start with early adopters and eventually spread to higher authorities, including governments.

He explained that the rapid Bitcoin purchases and national support by sovereign states, which some see as conflicting with Bitcoin’s original ethos, are natural stages in the process of technological diffusion.