Bitcoin has managed to break through $11,000
At about 10:04 this morning, BTC briefly pulled up, breaking through $11,000.
Spot market, BTC hits a new high since September 3, as of press, BTC is reported at $11389, up nearly 5% in 24 hours.
Exchange BTC net inflows continued to decline in two weeks
BTC has skyrocketed today, in fact, from the data side there are signs.According to Tokenview data, the net inflow of bitcoin into exchanges continued to decline for two consecutive weeks, with a month-on-month decline of 21.92% and 9.25%, respectively. In whales respect, they recently have the action to keep holding BTC.
As a unilateral BTC holding trust fund, Grayscale has substantially increased BTC holding. According to QKL123’s data, Grayscale BTC Trust bought 6,800 and 10,300 BTC successively on September 23 and 24, with a total value of $186 million, which was the largest increase in its holdings in the past month. Grayscale bought a total of 17,100 BTC over two days, which worth about $186 million. As of September 28, Grayscale held a total of 449,800 BTC, equivalent to 2.4% of the current circulation of BTC.
On the evening of October 8 (Beijing time), Square (NYSE: SQ), one of the US mobile payment giants, announced that it had purchased about 4,709 BTC(for a total investment of $50 million), which is regarded as BTC whales activity.
A market analysts expressed views yesterday: currently BTC will be mainly volatile upward, but investors need to be alert to the uncertainty brought by the U.S. presidential election.
Dollar index weak, BTC strong? Pat attention on US policy stimulus
It is worth noting that the dollar index fell sharply yesterday, hitting the 93 mark, a near three-week low. Spot gold rose more than $35 to $1,929.66 an ounce, bypassing its highest since Sept. 21. Sources say the White House is proposing to increase the size of the stimulus package from $1.6 trillion to $1.8 trillion. US President Donald Trump has said he wants a stimulus package bigger than what Democrats are proposing.Investors are buying assets such as gold as a hedge against future inflation and keeping a close eye on new U.S. stimulus measures.
Simulated by the news, all three major U.S. stock indexes ended higher, with the Dow, s&p 500 and Nasdaq up 0.57%, 0.88% and 1.39%, respectively.
In addition, the latest CFTC data showed speculators had more short positions than long positions in 30-year Treasury futures by 230,312, a record high, reflecting higher yields and inflation expectations for longer-term treasures.
The election of either Biden or Trump would bring massive stimulus measures that would depress the dollar.
About ZB Group
ZB Group was founded in 2012 with the goal of providing leadership to the blockchain development space and today manages a network that includes digital assets exchanges, wallets, capital ventures, research institutes, and media. The Group’s flagship platform is ZB.com, the industry leading digital asset exchange. The platform launched in early 2013 and boasts one of the world’s largest trading communities.
ZB Group also includes ZBG the innovative crypto trading platform, and BW.com, the world’s first mining-pool based exchange. Other holdings include wallet leader BitBank, as well as exchange brands ZBM, ZBX and Korea’s Bithi.
Industry intelligence and standards are headed by the recently launched ZB Nexus who embody the core values of ZB Group and open-source their reports and analysis for the public.
Learn more about ZB Exchange by visiting www.zb.com.
