At the end of #LUNC , it started moving. $LUNC the recently anticipated crypto coin. $BTTC the coins that have been talked about lately. When will Bttc start moving?
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One of Ethereum's Oldest Whales Has Awakened! Staked Millions of Dollars
An Ethereum whale moved their funds after a decade of silence, but instead of selling, the whale staked all of their holdings. Some whales, however, are seen heading towards selling.
The previously dormant #Ethereum ICO wallet has been activated after ten years. Fortunately, the whale did not send their assets worth 120 million dollars to an exchange but invested directly into staking.
According to blockchain data platform Lookonchain, the mentioned wallet had purchased 40,000 Ethereum for just 12,000 dollars during Ethereum's genesis launch in July 2015. While the address, which had not performed a single transaction for over a decade, did not execute any transaction that could panic the market, all assets were directed to the stake contract.
Some have Turned to Selling: Ethereum's Decline Deepens
Especially in the last month, rumors of “OG whales selling” have intensified, while the price of Ethereum has declined by nearly 30% during this period. Movements confirming that some whales have sold have also been detected.
Another Ether OG has put a significant portion of the 254,908 Ether they accumulated during the ICO period up for sale as of November 26. The whale that sold 20,000 Ethereum in the first sale saw their amount decrease to 9.3 million dollars within a few days.
In contrast, the total position of large wallets is on the rise. According to Glassnode data, the largest 1% of Ethereum addresses held 96.1% of the supply last year, and this figure has now risen to 97.6% of the supply. In other words, top-tier investors are aggressively accumulating despite whale sales.
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Bitcoin has increased 100 times, is it Ethereum's turn? The major exchange announced "Target number..."
Did you miss Bitcoin's legendary rise of 100 times from $1,000 to today's levels? Tom Lee, the famous strategist of Wall Street, said, 'History repeats itself' and pointed to a new target. Lee, who announced that Ethereum has entered a massive 'Super Cycle' just like Bitcoin, gave investors a critical warning: 'The road is not straight; only those with strong stomachs will win!
Tom Lee, one of the most followed strategists in the cryptocurrency markets and co-founder of Fundstrat, has again made a splash with a new analysis. Known for his successful predictions regarding Bitcoin (permabull), the Wall Street wolf turned his attention to Ethereum ($ETH) this time and asked the exciting question: "Is the legendary run that Bitcoin started in 2017 now beginning for Ethereum?"
"HISTORY REPEATS ITSELF": FROM $1,000 TO $100,000
In his analysis, Tom Lee reminded his followers of the year 2017. He noted that when they first recommended Bitcoin to Fundstrat clients, the price was only at the level of 1.000$ . Lee pointed out that Bitcoin has appreciated 100 times (100x) over the past 8.5 years by navigating through "existential crises."
However, this journey was not a straight line: There were 6 times when the drop exceeded 50%. There were 3 times when the crash exceeded 75%.
Conclusion: Patience (HODL) won. BIG CLAIM: "ETHEREUM IS ENTERING THE SAME SUPER CYCLE"
The most crucial point of the analysis is related to the present. Lee argues that Ethereum's current situation closely resembles Bitcoin's state in 2017. He states that the doubts, fears, and fluctuations in the market are actually signs that "a massive future is being priced in."
The famous analyst drops the bomb with this sentence:
"Today we believe that Ethereum ($ETH) is entering that same 'Super Cycle.'"
SO WHAT IS THE TARGET NUMBER?
Although Tom Lee's "Super Cycle" theory indicates a long-term potential of 100x, the numbers he provided for the short and medium term are also quite striking.
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Bitcoin could not maintain the $91,000 level it reached last week with the resurgence of macroeconomic pressures.
According to CoinMarketCap data, the leading cryptocurrency lost more than 5% in value over the last 24 hours, dropping to around $86,500. On Sunday evening, Bitcoin fell from approximately $91,300 to $87,000 within about three hours. This movement pulled #BTC back to levels seen throughout November and erased the five-day recovery above $90,000. Over the last 24 hours, the total cryptocurrency market value declined by 4%, losing more than $144 billion and dropping to $2.94 trillion. Sharp decline in cryptocurrencies
The risk aversion trend sharply impacted digital assets.
Bitcoin (BTC) decreased to $86,500 with a 5% drop.
Ethereum (ETH) fell to $2,841 with a 5% drop.
#Solana and $XRP %6, $ADA and $DOGE %7 experienced losses.
Interest rate cut is insufficient Bitcoin's recent rise was fueled by increasing expectations that the Fed would cut interest rates in December. CME Group's FedWatch Tool currently shows a 87.4% probability of a 25 basis point cut. However, analysts say that the hope for an interest rate cut alone is not enough to revitalize the upward momentum in the market.
BTC Markets Crypto Analyst Rachael Lucas states, "This price movement is more about positioning than fundamentals. The probability of a rate cut in December has risen to around 85%, but the market priced this in months ago during the September-October rally." According to the analyst, risk appetite continues to remain limited due to "persistent inflation and customs duty discussions." This macro pressure, combined with a $3.5 billion monthly outflow from Bitcoin ETFs in November and the liquidation of billions in leveraged long positions since mid-November, has contributed to what Lucas describes as a "classic leverage reduction spiral."
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Institutional Demand for Ethereum Dropped by 80%: Analysts Point to Critical Levels
Institutional treasury demand for Ethereum has decreased by 81% in the last three months, while the DAT model's collapse signals and strong resistance levels make it difficult for Ethereum to rise. According to analysts, it is essential to break through the critical threshold of $3,100–$3,200 for a sustainable recovery.
The Increasing Probability of Fed Rate Cuts Reveals a New Situation for XRP
XRP led the way among crypto asset products last week. After nearly a month of intense outflows, crypto asset investment products attracted $1.07 billion in investments.
The inflows into crypto asset investment products came after comments from FOMC member John Williams. In his statement, Williams noted that the current policy conditions might now be excessively restrictive. He also mentioned that the U.S. could soon move to cut rates. XRP Provided the Largest Weekly Inflow
The inflows into crypto asset products sharply contrast with the $5.7 billion that exited the sector in the previous four weeks. Even during the calmer Thanksgiving period, when overall activity dropped from $56 billion to $24 billion, new inflows were seen in many regional markets.
XRP stood out with a record weekly inflow of $289 million. According to CoinShares, XRP has been gaining momentum for six consecutive weeks and represents 29% of the total assets held in structured products.
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Data continues to leave the Fed helpless: The expectation of a rate cut has risen to 89%
As the private sector employment data announced in the US came in much lower than expected, the likelihood of the Fed making a rate cut seems to have increased. The market is pricing in a 25 basis point cut at next week's Fed decision, with a probability of 89%.
In the US, the ADP private sector employment data came in significantly below expectations. While an increase of 10,000 jobs was expected in November, a decrease of 32,000 jobs indicates that the cooling in the job market is continuing.
Has the Fed run out of options?
Due to the US government being closed from the beginning of October until November 13, the Fed, which had not received the data, was particularly focused on today's ADP data. The fact that this important data, which will provide significant insight into the job market, came in much lower than expected has raised another expectation in the market.
Experts are now looking at the December 10 meeting with certainty that a rate cut decision will come along with the ADP data.
As is known, recently Fed members have been focusing more on the declining labor market than on rising inflation. The unemployment rate rising to 4.4% has strengthened this perspective.
A financial company, Kobeissi, which made a one-sentence comment on the matter, stated, “With the labor market deteriorating so quickly, the Fed has no choice but to cut rates.”
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Ethereum Whales Returned to the Market: Is the Market Recovering?
After the sharp liquidations experienced by the crypto market at the beginning of the week, Ethereum whales have started aggressive buying again. According to on-chain data, the millions of dollars in ETH transfers made by large investors coincided with the rapid recovery of the market. The price of Ethereum has risen by over 8% in the last 24 hours, and analysts have broken their silence.
After long liquidations exceeding 600 million dollars at the beginning of the week, large investors returned to the market and made significant purchases.
On Wednesday morning, another wallet accumulated 4,597 ETH (13 million dollars) through Binance.