Bitcoin points to much the same thing, having lost its upward momentum as it approached the 200-day moving average. Although this line is trending downwards, the market has failed to break through it for the past six days. On the other hand, as the decline is quite modest, it resembles nothing more than a breather following a rally, leaving a strong chance of growth resuming.
Crypto News
According to CoinShares, global investments in crypto funds rose by $858 million last week. Investments in Bitcoin increased by $706 million, in Ethereum by $77 million, in Solana by $48 million, and in XRP by $40 million. Outflows from Bitcoin short positions totalling $14 million marked the largest of the year.
Investments rose amid a compromise on stablecoin yields under the CLARITY Act. The Senate Banking Committee is expected to consider the bill next week, CoinShares notes.
Strategy acquired 535 BTC for $43 million last week — at an average price of $80,340 per coin. The week before, the company skipped its weekly BTC purchase ahead of its quarterly report. Strategy now holds 818,869 BTC, purchased for $61.86 billion at an average price of $75,540 per Bitcoin.
Strategy will continue to build up its reserves of the leading cryptocurrency. At the same time, the volume of purchases will significantly exceed any potential sales, stated the company’s founder, Michael Saylor. According to him, it is important to remain a ‘net buyer’ and end each year with more coins than at the start.