Shares in publicly traded Ethereum treasury firm BitMine Immersion Technologies (BMNR) have fallen 11% on Thursday to trade at a seven-month low price as unrealized losses from its ETH holdings purchases hit approximately $8 billion.  BMNR recently changed hands around $18.05, its lowest mark since its July ascent amid news the company was shifting its focus to accumulating ETH. At that time, trading of BMNR shares was halted multiple times due to volatility, ultimately ending the day with more than a 400% ...

jpmorgan crypto Bitcoin could reach $266,000 "over the long term" as it increasingly looks more attractive than gold, even as crypto markets face near-term pressure from weak sentiment, according to JPMorgan analysts. Crypto markets have come under renewed pressure over the past week as broader risk assets, particularly technology stocks, weakened and traditional hedges such as gold and silver also saw a sharp correction, JPMorgan analysts led by managing director Nikolaos Panigirtzoglou said in a report ...

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Group 1 - The year 2024 is anticipated to be significant, with potential parallels to 2008, particularly for traders as market conditions evolve [1] - Bitcoin is expected to find support around $64,000 but is likely to continue its downward trend, with a historical perspective suggesting a preference for Treasuries over cryptocurrencies [2] - The current market dynamics indicate a persistent downward momentum for Bitcoin, exacerbated by forced deleveraging [3] Group 2 - The cryptocurrency market has expanded dramatically since 2009, with 28 million Bitcoins now in circulation, raising concerns about the value of lesser-known coins like Shiba Inu and Dogecoin [4] - Political considerations may influence market behavior, with the Trump administration potentially favoring a hot economy leading to inflation, which could result in a market correction [5] - Gold and silver have experienced unprecedented rallies in velocity despite low stock market volatility, suggesting a potential reversion in market conditions [6] Group 3 - Silver is noted for its speculative nature, typically trading at two times the volatility of gold, and is currently viewed as expensive compared to historical metrics [7][8] - The market is expected to see significant supply changes due to exponential price shifts, with "Thrifty" becoming a key term in the silver market next year [9]

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Company Overview - Strategy, previously known as MicroStrategy, is the world's largest Bitcoin treasury firm, based in Tysons Corner, Virginia. Founded in 1989, the company initially focused on enterprise analytics software before pivoting to Bitcoin as its main treasury reserve asset, accumulating significant holdings [6]. Bitcoin Market Dynamics - Bitcoin is experiencing significant volatility due to geopolitical tensions and macroeconomic uncertainty, leading to a decline in its stability and the fading of its "digital gold" status [1]. - Bitcoin prices are nearing the critical support level of $70,000, with analysts suggesting that a drop below this threshold could indicate further declines for the cryptocurrency [2]. - The post-election surge of Bitcoin to over $126,000 has prompted profit-taking among investors, contributing to the current downward trend [2]. Strategy's Position and Actions - Strategy remains committed to Bitcoin, having acquired 855 Bitcoins on February 2 at an average cost of $87,974, and holds a total of 713,502 Bitcoins as of February 5 [3]. - The company's treasury model relies on its shares trading at a premium to its Bitcoin holdings, but the current "crypto winter" has put this flexibility under pressure, although it is not in significant financial distress [4]. - The diluted share count will be a key metric to watch in Strategy's upcoming fourth-quarter earnings release, which is expected to provide insights into its financial health and strategy moving forward [4].

Is this people selling crypto to cover losses elsewhere. Is it more fundamental than that. >> Right now, >> it feels like there's a more fundamental issues within the crypto industry. Now, based on what I'm talking like everyone I'm talking to in the crypto industry, there's a crisis of face, right.like you know digital digital currency's like promise of like we build this like internet like internet money and that's kind of disappearing because like when prices are going down of asset class that's supposed ...

Crypto things you might have missed:-Crypto markets have lost ~$1 trillion since Jan. 14-JPMorgan says: "Bitcoin beats gold long term"-Huge crypto market structure legislation updates-@OG_com new prediction markets app by @cryptocom-BNB Chain & Ethereum launch new AI tech ...

Core Insights - Turbulence in the cryptocurrency market is negatively impacting shares of companies that hold bitcoin and other digital assets on their balance sheets, raising concerns about potential broader strains in the financial sector [1] Company Impact - Companies with significant holdings in cryptocurrencies are experiencing declines in their stock prices due to the volatility in the crypto market [1] - The market instability is leading to increased scrutiny of companies' financial health and their exposure to digital assets [1] Industry Concerns - The ongoing turbulence in the cryptocurrency market may indicate deeper issues within the financial ecosystem, potentially affecting investor confidence and market stability [1] - There are fears that the decline in cryptocurrency values could lead to a ripple effect across various sectors that are interconnected with digital assets [1]

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