Bitdeer mined 223.1 BTC this week and has sold all of them

Jupiter Litterbox Trust increased its holdings of 186546 JUPs worth approximately $45000 yesterday. Jupiter Litterbox Trust has purchased a total of 1226119 JUPs worth approximately $300000 this month. As of now, Jupiter Litterbox Trust has purchased a total of 145028229 JUPs worth approximately $34.8 million. Jupiter Litterbox Trust is the official on chain treasury fund of Jupiter, which automatically transfers 50% of Jupiter protocol revenue and continuously buys and holds JUP tokens in the public market through smart contracts.

According to Glassnode data, the total amount of Bitcoin holdings currently in a loss making state is 10.83 million, while the total amount of holdings in a profitable state is 9.22 million. This is the first time in this market cycle that the supply of floating losses has exceeded the supply of floating profits. Similar situations occurred in 2018 and 2022 in history, followed by the market entering a consolidation phase.

PRO chip distribution data shows that in the past 48 hours, 50% of ETH's traded chips have been concentrated in the range of $1687.33 to $1747.07. Currently, the ETH price is located above the chip concentration zone, about 0.49% from the upper edge of the range. This position was a key pressure level for the previous breakthrough and has now been converted into potential support. If the subsequent retracement can provide effective support at $1747.07, it means that the previous breakthrough is effective and the price trend is expected to continue. PRO users can confirm the trading volume changes at the support level and determine the support strength through the "chip distribution" indicator. The data is for reference only.

Crypto analyst Murphy pointed out that the average cost of short-term Bitcoin chips is concentrated in the range of $64000 to $68000, with $70000 being the price for short-term holders, which is the ceiling for bear market rebound. Murphy tends to see this round as a weak rebound, and if it breaks through $70000, it will be considered a strong rebound. Data from the options market shows that market makers have a positive Gamma in the range of $62000 and $66000 to $68000, which suppresses price fluctuations.

Bitdeer mined 223.1 BTC this week and sold them all, currently maintaining a zero position status.