Bitcoin breaks $28k threshold on debt ceiling decision, whales continue to accumulate

quick take

bitcoin whales accumulate

• After accumulating slowed down, the Bitcoin Whale holding more than 10,000 coins continued to accumulate Bitcoin aggressively over the weekend.

Debt ceiling update

according to Cobesi’s letter, as Bitcoin broke above $28,000, “news that a debt ceiling deal was reached ‘in principle’ last night”. They further explain that “it is rumored that the debt ceiling will not be raised to a certain amount, and the debt ceiling will continue without a cap until January 1, 2025.”

Liquidation of virtual currency

• Over the last 24 hours, cryptocurrency liquidations surpassed $118 million

After Bitcoin broke the $28,000 threshold in the debt ceiling, the whale continues to accumulate first appeared on CryptoSlate.