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The opening of the market shows continued weakness in the US, Japan, and South Korea indices, and the crypto market is also falling in sync! CPI has risen to 3.3%, closing half of the door to rate cuts, and many who are holding on see no glimmer of hope.
As the saying goes: some resign from official positions to return home, while others rush to exams overnight; under the same circumstances, there are often different voices.
Strategy: Continue to acquire 24,869 BTC, worth about $2.01 billion, at approximately $80,985 per Bitcoin. As of now, they hold 843,738 BTC, with an acquisition cost of about $63.87 billion, at roughly $75,700 per Bitcoin.
Last week, Bitmine increased its ETH holdings by 71,672 ETH, bringing its total ETH holdings to 5.28M ETH, with a total value of about $12.6 billion, accounting for 4.37% of the current total Ethereum supply of 120.7 million ETH. This is about 87% of the company's target to hold 5% of ETH supply.
There’s also an interesting data point: current Bitcoin futures and order data show that most bottom-fishing buyers are waiting for BTC below $70,000. But when everyone is waiting, can they really wait until then?
In trading, psychologically, everyone can see the peak but can’t sell at the highest point; conversely, they see the lowest point but few can buy at the bottom. Because at high prices, you always think, “Wait a bit longer, it might go even higher,” and at low prices, you think, “Wait a bit longer, maybe it will go even lower.” That’s human nature! Smart traders often sell when everyone is shouting and slowly buy when others are in fear!
ETH continues dollar-cost averaging!