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Quick Take Bitwise CIO Matt Hougan said the U.S. election outcome, the economy and no major crypto industry surprises are the three conditions required to see a bitcoin rally above $80,000 in Q4. However, a “full-on melt-up” to $100,000 in just a few months would require a broader crypto rally to juice market sentiment, he said.
Quick Take Former Bitcoin Core developer Gregory Maxwell pointed out an overlooked detail in the HBO documentary’s case for naming creator Satoshi Nakamoto as Peter Todd. If filmmaker Cullen Hoback “had actually wanted to find Satoshi, he would have presented his theories to Adam Back and I to see if there wasn’t some trivial flaw in them like this,” Todd said.
- 15:37Analyst: Investors Shouldn't Be Overly Optimistic About Goldman Sachs' ETF Positions, Which Are Only for Arbitrage Trading and HedgingGoldman Sachs generated a lot of buzz on crypto Twitter when it revealed in its 13F filing that it holds a small stake in a spot Bitcoin ETF, but the truth is not what one would expect, according to CoinDesk Senior Analyst James Van Straten. For starters, these ETFs aren't exactly Goldman's trading floor bets on the price of bitcoin ( BTC ). They are almost certainly held by the bank's asset management arm, Goldman Sachs Asset Management, for its clients. Second, while the document (a snapshot of ownership as of 31 December 2024) shows a $288 million stake in the Fidelity Bitcoin ETF (FBTC) and a $1.3 billion stake in the BlackRock Bitcoin ETF (IBIT), it also shows put positions (and a small number of call positions) with a notional value of more than $600 million. This Goldman Sachs position, similar to many other banks and hedge funds, is not a net long position,’ James said. It is a strategy that mirrors the underlying trade, also known as a cash and carry trade, balancing the potential profit and risk of fluctuations in the price of Bitcoin. the ETF recently received options approval, so this is likely a directional hedge.’
- 15:36In the past one hour the whole network burst $71.21 million, the main explosion of multiple ordersOn 12 February, according to the data, in the past 1 hour, the whole network burst 71.21 million dollars, of which 60.5 million dollars of long positions, short positions of 10.7 million dollars.
- 15:32Traders reduce bets on Fed rate cuts as inflation beats expectations across the boardOn 12 February, after the release of inflation data, traders now expect the Federal Reserve to reduce policy easing.