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Whale Alert reports that Circle has minted 250 million
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Over $800 Million in Liquidations in the Last 24 Hours!
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A bill has been proposed in the Philippine House of Representatives to establish a strategic Bitcoin reserve. The bill, titled the "Strategic Bitcoin Reserve Act," was filed by Representative Migz Villafuerte. It calls for the Bangko Sentral ng Pilipinas (BSP), the country's central bank, to acquire 10,000 BTC over a five-year period, with an annual purchase of 2,000 BTC. The reserve would be held in a trust for at least 20 years. Key Provisions of the Proposed Bill The proposed legislation includes several notable provisions that define how this Bitcoin reserve would be managed: 20-Year Lockup Period: The Bitcoin holdings would be placed in cold storage and could not be sold or swapped for a minimum of 20 years. This long-term lockup is intended to prevent the reserve from being used for speculative trading and to solidify its status as a strategic, long-term asset. Debt Repayment: The only explicit exception to the 20-year rule is for the purpose of paying down the nation's sovereign debt. However, even for this purpose, the bill imposes a limitation: no more than 10% of the reserve may be liquidated in any two-year period after the minimum holding period expires. Diversification and Security: Proponents of the bill argue that creating a Bitcoin reserve would help the Philippines diversify its national assets beyond traditional holdings like gold and U.S. dollars. They believe this would enhance the country's financial security and improve the convertibility of the Philippine peso during times of economic crisis. Transparency: The bill mandates a "proof-of-reserves" system, requiring the BSP to conduct quarterly public audits of the Bitcoin holdings. These reports would be verified by independent third parties and published online to ensure transparency and prevent misuse. This legislative proposal positions the Philippines alongside countries like El Salvador, which have embraced Bitcoin as a cornerstone of their financial strategy. It also highlights a growing global trend among governments to consider Bitcoin as a "modern strategic asset."
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💰💵💰The Current Market Shift: From Bitcoin to Alts A significant shift in the crypto market is underway, marked by a sharp decline in Bitcoin's dominance. This metric, which measures Bitcoin's share of the total crypto market cap, has recently fallen to 58.16%. This downward trend is a key indicator of a capital rotation, where investors are moving funds out of Bitcoin and into other digital assets, signaling a potential bullish phase for altcoins. 🔥🔥Liquidity Flowing into Ethereum and Altcoins The primary beneficiaries of this capital rotation appear to be Ethereum (ETH) and various altcoins. Analysis of on-chain data and market movements suggests that liquidity is being pulled from Bitcoin and redistributed. As the largest and most established altcoin, Ethereum often acts as a gateway for this capital. The current shift could be bolstered by a significant development on the Ethereum network: the unstaking exit queue. A record 910,000 ETH ($3.9 billion) is currently queued for withdrawal. This backlog, while seemingly a sign of selling pressure, can also be interpreted as a precursor to a new wave of market activity. As this ETH becomes available, it is likely to be re-deployed into other assets within the Ethereum ecosystem or a broader range of altcoins, fueled by growing demand and positive sentiment around Ethereum's future. 🚀 The Rise of a Potential "Mini Altseason" This confluence of factors—declining Bitcoin dominance, capital flowing into ETH, and a large supply of ETH about to re-enter the market—creates fertile ground for a "mini altseason." This is a period where many altcoins experience rapid and significant price gains, often outperforming Bitcoin. If the downward trend in Bitcoin's dominance continues, expect this momentum to accelerate. In such a scenario, Ethereum and mid-cap altcoins are poised to see a fast and significant increase in value. #BTCWhalesMoveToETH #CryptoRally
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صناديق الاستثمار المتداولة في البورصة (ETFs) للبيتكوين الفوري في الولايات المتحدة تسجل تدفقات خارجية قياسية بلغت 1.17 مليار دولار الأسبوع الماضي، وهو ثاني أكبر تدفق خارجي منذ إطلاق هذه الصناديق في يناير 2024. أسباب رئيسية وراء هذه التدفقات الخارجية يرى المحللون أن هذا التراجع يعود إلى عدة عوامل رئيسية: * جني الأرباح: بعد الارتفاعات الكبيرة في سعر البيتكوين خلال الفترة الماضية، اتجه العديد من المستثمرين، وخاصة المؤسسات الكبرى، إلى بيع جزء من حيازاتهم لتحقيق الأرباح. * عوامل الاقتصاد الكلي: هناك قلق متزايد بشأن سياسات البنك الاحتياطي الفيدرالي ومؤشرات التضخم التي جاءت أقوى من المتوقع، مما دفع المستثمرين إلى إعادة توجيه أموالهم نحو أصول أكثر أماناً مثل السندات الحكومية أو الاحتفاظ بالنقد. * تقلبات السوق: تشير هذه التدفقات إلى أن صناديق البيتكوين المتداولة في البورصة لا تزال تحمل نفس خصائص التقلب التي يتميز بها سوق العملات الرقمية الأوسع، وأنها ليست بمنأى عن عمليات البيع الكبيرة التي تحدث في أوقات عدم اليقين. ملاحظة: على الرغم من هذه التدفقات الكبيرة، لا يزال البعض يرى أنها مجرد "رياح معاكسة" قصيرة الأجل وأن الطلب طويل الأجل على البيتكوين ما زال قوياً، خاصة مع استمرار تراكم الحيازات من قبل بعض الجهات الكبيرة. #BTCWhalesMoveToETH
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