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- JP Morgan increases BTC & ETH holdings.
Welcome back to the Daily Coinsauce Newsletter! Let’s dive into today’s updates—there’s a lot to unpack!
💧Top headlines from the last 24 hours:
• Google explores ways to onboard more people to Bitcoin.
• JP Morgan increases BTC & ETH holdings.
📕Educational :
• Visualizing whale biases on altcoins.
Lets dive in.
📅 Today
Google X Bitcoin!
Google, with a market cap of $2.3 trillion, has stated that it is exploring ways to onboard users to Bitcoin.
Google’s Web3 Specialist Kyle Song said : "We are exploring ways to lower entry barriers so Web2 users can easily use Bitcoin.
He also mentioned that their goal is to enable users to access their wallets and trade Bitcoin by logging in through Google.
With over 5.4 billion users, this could very well unlock mass adoption for Bitcoin, which is extremely bullish.
JP Morgan X Bitcoin!
JPMorgan has significantly increased its Bitcoin and Ethereum ETF holdings, with $984,000 in Bitcoin ETFs and $32,300 in Ethereum ETFs.
This comes in after it’s CEO Jamie Dimon has vocally disregarded crypto and Bitcoin in the past, calling it a scam.
Goldman Sachs also boosted its Bitcoin ETF investments, with $1.27 billion in BlackRock’s iShares Bitcoin Trust ETF.
Despite rising institutional interest, crypto funds saw $415 million in outflows last week, driven by concerns over interest rate cuts.
The short term outlook for Bitcoin remains uncertain, especially due to weak economic conditions. Bitcoin seems to be waiting for the release of the US unemployment data before deciding it’s next directional bias.
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🌎 Other News
📕 Educational
Whales Are More Interested in Longs or Shorts Than Retail in These Altcoins.
Whales favoring Longs: LTC, AAVE, VET, DEXE, LDO, MKR, IOTA, BNX
Whales favoring Shorts (or closing Longs): BTC, ETH, SOL, BNB, XRP, ADA, LINK, XLM, BCH, DOT, ONDO
How it works:
A value above 1 means whales are more interested in Longs than retail.
A value below 1 means whales are more interested in Shorts (or closing Longs) compared to retail.
Explore the data:
📊 Stat of the day
🤣 Meme of the day
That concludes our update for today!
We appreciate you joining us for the latest news. We aim to provide the best-in-class insights and highlights that keep you well-informed and ready.
Remember to join us on Telegram and Twitter for additional updates and giveaways. Until then, see you next time!
Disclaimer: None of the content shared in the newsletter is financial advice. Always do your own research and analysis before investing.
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