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Analysts from cryptocurrency analytics firm MarktQuant have revealed a little-known metric that affects the price of Bitcoin.
Share link:In this post: An investor has made $214.34 million from a $151.42 million Ether investment by following the hodl strategy. The investor initially acquired 96,639 ETH($151.43 million ) from the Coinbase crypto exchange between Sept. 3 and 4, 2022. While many investors profit from the crypto market, some, like the founder of Amaranth Foundation, are losing money.
Quick Take Digital asset investment products brought in $321 million worth of net inflows globally for the second consecutive week, according to CoinShares. The surge was likely driven by the U.S. Federal Reserve’s 50-basis-point interest rate cut, Head of Research James Butterfill said.
Quick Take Cryptocurrencies and U.S. stocks are now more closely aligned than at almost any time in recent years, according to a Bloomberg report on a new correlation study. This increasing positive correlation suggests that macroeconomic factors, particularly following last week’s Federal Reserve rate cut, are significantly influencing both markets, the report noted.
Quick Take Ethereum has outperformed bitcoin since the U.S. Federal Reserve cut its Federal Funds rate by 50 basis points last Wednesday. This upward momentum coincides with a significant increase in the ether open interest-weighted perpetual futures funding rate, indicating stronger demand for long positions and growing optimism among traders that the price of ether may rise.
