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Disclaimer: The following content is intended solely for educational purposes and does not constitute investment advice.

Whales Lead the Charge in Bitcoin’s Price Rally

Contrary to the consolidation trend many experts predicted, Bitcoin (BTC) has experienced a significant 8% increase this week. This rally has been attributed to a notable rise in whale activity, with approximately 73 new whales now holding at least 1,000 BTC each.

Spot Bitcoin ETF Inflows Indicate Growing Confidence

Bloomberg Analyst James Seyffart highlighted a substantial $1.8 billion in net spot Bitcoin ETF inflows on February 8, which has elevated the total assets under management to an impressive $29 billion. This influx, along with Grayscale’s GBTC expecting net inflows, suggests a strong institutional backing contributing to Bitcoin’s upward momentum.

Broader Market Optimism Reflects on Bitcoin

The recent breakthrough of the S&P 500 index surpassing the 5,000 mark for the first time has positively impacted a range of risk-on assets, Bitcoin included. Moreover, the stability in Bitcoin’s open interest-weighted funding rate points to spot buying rather than leveraged speculation as the driving force behind the current rally.

Pre-Halving Rally on the Horizon?

Analyst Rekt Capital suggests that Bitcoin may be entering its “pre-halving rally” phase sooner than expected, deviating from the anticipated “pre-halving downside” phase. This sentiment is echoed by analyst Michael van de Poppe, who has expressed his optimistic stance regarding Bitcoin’s bullish behavior.

Bitcoin Minetrix: A New Dawn for Cloud Mining

The Bitcoin Minetrix project has garnered attention amidst the rally, successfully raising over $10.5 million in its presale. Positioned as a decentralized cloud mining solution, Bitcoin Minetrix aims to address the common challenges of traditional cloud mining through enhanced security and transparency on the Ethereum blockchain.

The Rising Star: BTCMTX Token

The native token of Bitcoin Minetrix, BTCMTX, is currently valued at $0.0133, offering a lucrative 64% APY for presale participants who stake their tokens. The obligatory use of BTCMTX for staking within the ecosystem creates a sustained demand, potentially stabilizing the token’s market value.

Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned herein. Readers are advised to conduct their own research before engaging with the company.


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