Bitcoin’s price has rallied from $60K to around $66K

CryptoQuant

Bitcoin’s price has rallied from $60K to around $66K, driven by lower-than-expected US inflation and reduced selling pressure.

Key insights:

• Short-term holders are selling at low or negative profits, reducing selling pressure.

• Bitcoin balances at OTC desks have stabilized, indicating less supply entering the market.

• Bitcoin miners are facing extremely low profitability, often correlating with price bottoms.

• Demand from permanent holders and large investors is stabilizing but needs to accelerate to sustain the rally.

• ETF Bitcoin purchases remain near zero, and stablecoin liquidity growth is still slow, both critical for a sustainable rally.

Continued demand growth from large investors and increased ETF activity are needed to support higher price levels. Without these, the price rally may face challenges.

For more details, see our Weekly Report.

Crypto Weekly Report | @cryptoquant_official

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Create: 2024-05-17
Last Update: 2024-06-12 02:18:10

BY CryptoQuant

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Date: 2024-06-12| CryptoQuant

Export WhatsApp stickers to Telegram on iPhone

You can’t. What you can do, though, is use WhatsApp’s and Telegram’s web platforms to transfer stickers. It’s easy, but might take a while.Open WhatsApp in your browser, find a sticker you like in a chat, and right-click on it to save it as an image. The file won’t be a picture, though—it’s a webpage and will have a .webp extension. Don’t be scared, this is the way. Repeat this step to save as many stickers as you want.Then, open Telegram in your browser and go into your Saved messages chat. Just as you’d share a file with a friend, click the Share file button on the bottom left of the chat window (it looks like a dog-eared paper), and select the .webp files you downloaded. Click Open and you’ll see your stickers in your Saved messages chat. This is now your sticker depository. To use them, forward them as you would a message from one chat to the other: by clicking or long-pressing on the sticker, and then choosing Forward.

Should I buy bitcoin?

“To the extent it is used I fear it’s often for illicit finance. It’s an extremely inefficient way of conducting transactions, and the amount of energy that’s consumed in processing those transactions is staggering,” the former Fed chairwoman said. Yellen’s comments have been cited as a reason for bitcoin’s recent losses. However, Yellen’s assessment of bitcoin as a inefficient medium of exchange is an important point and one that has already been raised in the past by bitcoin bulls. Using a volatile asset in exchange for goods and services makes little sense if the asset can tumble 10% in a day, or surge 80% over the course of a two months as bitcoin has done in 2021, critics argue. To put a finer point on it, over the past 12 months bitcoin has registered 8 corrections, defined as a decline from a recent peak of at least 10% but not more than 20%, and two bear markets, which are defined as falls of 20% or more, according to Dow Jones Market Data.