Metaplanet’s growing Bitcoin investment and what it means for the market

Market indicators, including rising open interest and MVRV ratio, signal potential for Bitcoin’s continued bullish momentum.price late last week, the cryptocurrency is showing signs of a rebound, with prices returning above $68,000 as the new week begins.

Metaplanet’s renewed commitment to BTC reflects a broader trend of corporations adopting cryptocurrency as a strategic treasury asset. from Coinglass reveals that Bitcoin’s open interest has grown by 4.26%, reaching $38.89 billion, with open interest volume seeing a substantial 61.13% increase, currently valued at $33.77 billion.Open interest refers to the total number of outstanding derivative contracts, such as futures and options, that have not yet been settled.investors anticipate further movement

Furthermore, Bitcoin’s Market Value to Realized Value ratio has recently climbed to 2.06, as per CryptoQuant

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Metaplanet’s gains 644% YTD amidst ¥10B Bitcoin acquisitionMetaplanet aims to bolster Bitcoin investments, navigating Japan’s tough economy with a fresh capital infusion.
منبع: CryptoAmb - 🏆 22. / 68 ادامه مطلب »

Bitcoin's Correlation With US Stocks Hits Two-Year High Amid Positive Market SentimentBitcoin recently surged past a key resistance level, extending its upward trend. Notably, the cryptocurrency's correlation with US stocks has reached a two-year peak, indicating Bitcoin is increasingly mirroring traditional financial markets. While both assets have shown parallel trends reflecting similar market sentiment, Bitcoin's inherent volatility results in more pronounced price swings.
منبع: CryptoAmb - 🏆 22. / 68 ادامه مطلب »