Bitcoin breaks $28k threshold on debt ceiling resolution, whales proceed to build up

Fast Take

Bitcoin whales accumulate

• After slowing down accumulation, Bitcoin whales that maintain 10,000 or extra proceed accumulating Bitcoin aggressively over the weekend.

Debt ceiling replace

Based on The Kobeissi Letter, “information that the debt ceiling deal was reached “in precept” final evening,” as Bitcoin broke $28,000. They additional go on to elucidate: “The debt ceiling is rumored to not be raised by a certain amount, and the debt ceiling will run uncapped till January 1st, 2025”.

Crypto Liquidations

• Previously 24 hours, crypto has seen over $118 million in liquidations

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