WhaleStats has reported new data on the Shiba Inu (SHIB). According to these data, the total amount of SHIB purchased since Sunday rose to $657,836,948. The first 100 Ethereum whales added $150 million.
According to data reported by WhaleStats, the top 100 Ethereum whales made new additions on Sunday. In this way, the first 5000 Ethereum whales added 150 million dollars to the Shiba Inu worth $508,672,407. WhaleStats reported that so far this amount of crypto money has increased to $ 657,836,948. But the whales' biggest crypto asset is Silverway (SLV).
SLV is ranked 5401 on the CoinMarketCap platform. It is currently trading at $0.002483 after experiencing a staggering 107% increase in the last 24 hours.
Bloomberg analysts released their August report with interesting data
Bloomberg analysts said that Bitcoin (BTC) will act more like treasury bills and gold during the market recovery. According to the latest report from Bloomberg Intelligence, Bitcoin price can now follow US Treasury bonds and gold prices rather than stocks with which it has been highly correlated recently. The August report, penned by senior commodity strategist Mike McGlone and senior market structure analyst Jamie Coutts, compared Bitcoin to the gold, bond and oil markets. The authors suggested that macroeconomic factors such as the monetary policies of the Federal Reserve led to similarities in Treasury bond markets and Bitcoin. Analysts made the following statement:
“The Fed's new monetary policy, slump in global growth, recession risk and fears of high inflation played a big role in setting the Federal Reserve's interest rates in July. This could push Bitcoin into a high correlation with US Treasury bond prices rather than stocks. "
The report also pointed to the possibility of bonds, gold and Bitcoin rising as inflation falls. Treasury bills, often referred to as T-Bonds, are long-term government debt securities issued by the U.S. Department of the Treasury. They have a fixed rate of return and maturity periods ranging from 20 to 30 years. The report noted that the crypto intermediate markets hit their biggest discount ever compared to the 100-week moving average in July. Analysts stated that it is abnormal for Bitcoin to stay well below its 200-week moving average. BTC is currently trading at $23,1502, up 1.2% in the last 24 hours and has just crossed the 200-week moving average ($22,827).
Analysts said BTC “shows its potential” that it is 70% below its peak in early August, but still five times higher than its March 2020 low. Experts indicated that the $20,000 region is the key support and they expect a base similar to the $5,000 level in 2018-19 to be built. The researchers concluded that Bitcoin has been one of the best performing assets since its inception nearly a decade ago. According to the report, Bitcoin will move to be more in line with treasury bills or gold and therefore may follow a more stable price action.