The cryptocurrency market is on a downward trend, while gold prices have hit an all-time high. Bitcoin (BTC) dominance increased due to significant inflows into U.S. BTC ETFs.
In the past month alone, long-term holders accumulated 167,000 BTC, mirroring patterns seen in previous market cycles, potentially pointing towards a bear market lasting 6 to 12 months.
Standard Chartered strongly predicts BTC could rise to 500,000 USD driven by macroeconomic trends, and further, Ethena plans to launch a new blockchain collaboration with Securitize.
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