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Summary:
MicroStrategy CEO Michael Saylor has described Bitcoin as a lifeboat tossed on a stormy sea, offering hope t anyone that needs to get off their sinking ship.
Mr. Saylor also pointed out that Bitcoin will outlast all of us.
Key takeaways:
Michael Saylor has pointed out that anyone who has held onto Bitcoin for four years has never lost money.
Mr. Saylor also explained that MicroStrategy had backtested its Bitcoin strategy against alternatives such as gold and the Nasdaq, and it performed 10x better.
Summary:
Bitcoin’s drop to a local low of $22,600 has rekindled discussions surrounding MicroStrategy’s possible margin call on its $205 million loan if Bitcoin drops below $21k.
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Deus Finance lost over $3 million from the hack.
The hacker manipulated prices in a lending contract.
The team is working on a reimbursement plan for the victims.
DeFi project Deus Finance has experienced a hack, resulting in over $3 million being stolen.
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Bitcoin seems to have recaptured the 50-day moving average as support
Bitcoin is now firmly above the $34k price area, trading at the $34,720 at the time of writing
Bitcoin’s weekly close tonight will provide more information as to whether its bullish trajectory can be sustained
Twitter sentiment s
Bitcoin supply on crypto exchanges has once again started to drop, almost equaling January lows
Bitcoin outflows from exchanges have exceeded inflows by 2,333 BTC in the last 7 days
Elon Musk and ‘The ₿ Word’ Bitcoin conference is one reason BTC is bullish once again
Jack Dorsey stating that Bitcoi
Elon Musk has stated that Tesla will most likely resume accepting Bitcoin for car payments
He pointed out that Bitcoin mining had shifted more towards renewables as China clamped down on coal-powered BTC mining within its borders
Mr.
The growth of Bitcoin addresses has hit a plateau phase
Bitcoin’s daily active addresses have also dropped from April’s peak of 1.
Bitcoin could bottom at around $14k to $15k
Bitcoin also has a probability of bottoming at the 50-week moving average
The 50-week MA is providing support at current levels around $31k
Whichever scenario plays out, beginning to accumulate Bitcoin is not a bad idea
$31k is the Bitcoin level to watch
Bitcoin miners based in China now control less than 50% of the total BTC hash rate
Hash rate originating within China is dropping as the government continues to crack down on Bitcoin mining
The United States is the biggest beneficiary of the migration of mining away from China
Bitcoin’s hash rate h