Son Min

An analysis has suggested that up to $225 billion may flow into Bitcoin over the next 20 years as a result of a massive generational wealth transfer. According to CoinDesk on the 20th (local time), Zapo Bank stated in a report, "Trillions of dollars will be inherited from the baby boomer generation to younger generations over the next 10 years," and added, "As part of this wealth transfer, between $160 billion and $225 billion could flow into Bitcoin over the next 20 years." According to the data, it is estimated that around $10.6 trillion will be inherited in the United States alone by 2030. When Asia and Europe are included, it is explained that enormous inflows are possible. The report continued, "Bitcoin’s scarcity, decentralization, and inflation hedge capabilities are attractive," and "especially since younger generations are familiar with virtual assets, Bitcoin could gradually become a key element in inheritance." Accordingly, it was added that an additional daily demand of $2 million to $28 million could arise.

Bitcoin (BTC) has fallen below $113,000. As of 10:46, based on the Binance USDT market, Bitcoin is trading at $112,941, down 1.85% from 24 hours ago.

Arthur Hayes, co-founder of BitMEX, has reportedly purchased 7.66 million BioProtocol (BIO) tokens. On the 20th (local time), Lookonchain announced on X (formerly Twitter), "About two hours ago, Arthur Hayes bought 7.66 million BIO," adding, "This amounts to approximately $1 million." As of 10:37 PM, according to Binance USDT market data, BioProtocol is trading at $0.1668, up 20.67% from 24 hours ago.

It has been revealed that whales have accumulated over 400,000 Ethereum (ETH). On the 20th (local time), Ali Martinez, a cryptocurrency analyst, announced on X (formerly Twitter), "During the downward trend, whales purchased 400,000 ETH." This amount is equivalent to $1.7 billion based on the current XRP price. As of 10:06 PM, XRP is trading at $4,195 on the Binance USDT market, down 2.41% compared to 24 hours ago.

There is an assertion that the dollar-based stablecoin USDC may overtake Tether (USDT) in market share. According to Investopedia on the 20th (local time), Goldman Sachs stated in a report, "USDC, which complies with the GENIUS Act, will take over Tether's market share," adding, "USDC's market capitalization is expected to grow at an average annual rate of 40% and reach $77 billion by 2027." Currently, the market caps of Tether and USDC are approximately $165 billion and $66 billion, respectively. The main strengths of stablecoins are cited as financial infrastructure, especially interbank settlements and cross-border transactions. However, the possibility of stablecoins fully replacing existing payment services was considered low. The report stated, "It remains to be seen whether the global stablecoin market ($270 billion) will encroach on the traditional financial services industry," adding, "It is expected to pose only a limited threat to payment services." In particular, Visa and Mastercard were projected to play a role in promoting the adoption of stablecoins, rather than being rivals to stablecoins.

Over the past 24 hours, liquidation volume in the perpetual cryptocurrency futures market reached $446.12 million. According to CoinGlass data on the 20th (local time), a total of $446.12 million in futures positions were liquidated in the crypto market over the past 24 hours. With major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) on the decline, most of the liquidations involved long (buy) positions. Specifically, $362.71 million in long positions and $83.41 million in short (sell) positions were liquidated. Ethereum recorded the largest liquidation volume. Over the 24-hour period, Ethereum saw $178.06 million in positions liquidated, including $127.86 million in longs and $50.20 million in shorts. Bitcoin ranked second during the same period with $101.25 million liquidated. The size of long and short position liquidations were $95.71 million and $5.54 million, respectively. As of 5:28 PM, based on the Binance USDT market, Bitcoin and Ethereum were trading at $113,854 and $4,227, down 1.04% and 0.19% compared to 24 hours ago.

There has been a claim that $112,800 is the next major support level for Bitcoin (BTC). On the 20th (local time), cryptocurrency analyst Ali Martinez stated on X (formerly Twitter), "According to the MVRV (Market Value to Realized Value) Pricing Band indicator, Bitcoin's next major support level is $112,800," adding, "$91,400 and $70,000 could also become key support levels in the future." As of 5:23 PM, based on the Binance USDT market, Bitcoin is trading at $113,789, down 1.23% from 24 hours ago.

The Virtual Asset (Cryptocurrency) Fear & Greed Index dropped by 12 points compared to the previous day, indicating a cooling of speculative sentiment. The Fear & Greed Index is an indicator reflecting market sentiment, representing extreme fear closer to 0 and extreme greed closer to 100. On the 20th (local time), the Fear & Greed Index provided by the virtual asset analytics firm Alternative currently stands at 44 out of 100, entering the 'fear' stage. The index declined by 12 points from the previous day (56 points), showing decreased investor sentiment in the market. As of 5:15 p.m., on the Binance USDT market, Bitcoin (BTC) is trading at $113,632, down 1.25% from 24 hours ago. The Fear & Greed Index is calculated based on volatility (25%), trading volume (25%), social media (15%), surveys (15%), Bitcoin market cap dominance (10%), and Google search volume (10%).

Investor sentiment on social media services (SNS) has shifted to bearish. On the 20th (local time), Santiment stated via X (formerly Twitter), "As Bitcoin (BTC) failed to rebound, retail investor sentiment has completely reversed," adding, "Over the past 24 hours, the level of bearish sentiment observed on social media has been the highest since the fear caused by the war in June." Furthermore, Santiment explained, "The market moves contrary to public expectations. Bearish sentiment is an opportunity," and noted, "You may be able to buy when fear is at its peak."

It has been reported that whales have sold 470 million XRP. On the 20th (local time), cryptocurrency analyst Ali Martinez stated on X (formerly Twitter), "In the past 10 days, whales have sold 470 million XRP." This amounts to $1,355,860,000 at the current XRP price. As of 4:39 PM, XRP is trading at $2.8848 on the Binance USDT market, down 3.65% compared to 24 hours ago.

The amount of BTC held by Bitcoin (BTC) spot Exchange Traded Funds (ETFs) has reached an all-time high. On the 20th (local time), a CryptoQuant contributor from Crypto Onchain shared on X (formerly Twitter), "The US Bitcoin spot ETFs have reached a historic milestone" and added, "ETFs now hold 1.75 million BTC, which is the largest amount ever recorded." Meanwhile, the previous day, Bitcoin spot ETFs saw a net outflow totaling $523.3 million.

An analysis has suggested that the possibility of a sideways movement for the crypto asset (cryptocurrency) stock index is high. On the 20th (local time), Matrixport stated in a report, "Over the past 18 months, the crypto asset stock index has significantly outperformed Bitcoin returns," but also noted, "Recently, as crypto-related stocks underwent a correction, the index has shifted downward." In particular, it was pointed out that the buying momentum for crypto asset stocks weakened after the IPO of Circle. The report said, "Since Circle's IPO, the overall upward momentum of listed stocks has diminished," adding, "This reflects reduced institutional participation and seasonal factors." Furthermore, it stated, "With no upcoming major crypto asset company IPOs, the crypto asset stock index is likely to move sideways."

The Sweden-based health company 'H100 Group', which has adopted a Bitcoin (BTC) accumulation strategy, has reportedly acquired approximately 102BTC. On the 2nd (local time), 'H100 Group' announced on X (formerly Twitter), "Today, as part of our Bitcoin accumulation strategy, we acquired an additional 102BTC," adding, "The average purchase price per coin was about $120,527." H100 currently holds a total of 911.29 Bitcoins.

There is a claim that the main buyers of newly issued U.S. Treasury securities will be stablecoin issuers such as Tether (USDT) and Circle. According to the Financial Times on the 20th (local time), U.S. Treasury Secretary Scott Besant predicted that stablecoin issuers like Tether and Circle would become the key purchasers of U.S. Treasury securities. Accordingly, it has been reported that the Treasury Department has established short-term Treasury sales plans through discussions with stablecoin issuers. According to data from the Federal Reserve Bank of Kansas City, the current size of the stablecoin market is about $250 billion, which is very small compared to the U.S. Treasury market ($29 trillion). However, Secretary Besant has previously predicted that the stablecoin market could grow to $2 trillion in the next few years.

It has been analyzed that large hedge funds' short (sell) positions have triggered the decline of Ethereum (ETH). On the 20th (local time), Bitcoinist stated, "The decline in Ethereum is being driven by large hedge funds," and added, "Short positions (sell) have reached historic highs." As of the 5th, hedge funds' Ethereum short positions amounted to only $2.3 billion. However, recent data shows that short positions have surged to $4.19 billion. Buying activity by asset management firms was not enough to change the trend. The outlet explained, "Asset managers are still buying Ethereum. Long (buy) positions have increased by $1.22 billion," but also said, "Short positions still dominate the market." In addition, it was noted that individual investors have also increased their short positions. However, the possibility of a short squeeze has also been raised. The report stated, "Historically, when short positions reach record highs, a short squeeze often occurs," and, "There's a high probability that the price of Ethereum could spike."

It was revealed that a group posing as sellers of virtual assets (cryptocurrency), among other things, to a Korean businessman in Taiwan has been arrested. According to the industry on the 19th (local time), Taiwanese authorities announced the arrest of six individuals who deceived Mr. Lee, a Korean businessman, by claiming to sell Tether (USDT) and watches. Mr. Lee reportedly went to the appointed location for the transaction with a backpack containing 1.5 million Taiwan dollars (about ₩69,340,000) and 500,000 Taiwan dollars (about ₩23,110,000), but realizing it was a scam, jumped out of the car. In the process, the bag containing 500,000 Taiwan dollars was stolen. Meanwhile, Taiwanese police stated they confiscated about 90,000 Taiwan dollars (₩4,150,000), mobile phones, bankbooks, and cards from the arrested group.

The stablecoin market capitalization and Total Value Locked (TVL) of the Base network have both reached all-time highs. On the 19th (local time), Unfolded announced on X (formerly Twitter) that "the stablecoin market cap on Base has reached a new all-time high," and added, "the scale of TVL has also simultaneously hit a record level."

Bitcoin (BTC) has fallen below $114,000. As of 11:43 PM, Bitcoin is trading at $113,982, down 1.07% compared to 24 hours ago.

Modular decentralized exchange (DEX) Valantis has acquired the Hyperliquid (HYPE)-based liquidity staking platform 'StakedHYPE.' According to The Block on the 19th (local time), Valantis revealed the acquisition of StakedHYPE, stating, "We will grow StakedHYPE into the core liquidity network of the Hyperliquid ecosystem." The specific acquisition amount was not disclosed. Ed Carvalho, Valantis co-founder, expressed his anticipation, saying, "Through the acquisition of StakedHYPE, we will be able to build additional market infrastructure." Meanwhile, according to DeFiLlama data, StakedHYPE's current total value locked (TVL) is approximately $200 million.

The Nasdaq-listed cryptocurrency mining firm LM Funding America has reportedly raised $23 million for the acquisition of Bitcoin (BTC). On the 19th (local time), LM Funding America announced on its official website that it had raised $23 million through direct stock offerings and private placements, stating that "the funds raised will be used for additional Bitcoin purchases." It is known that LM Funding America started its Bitcoin accumulation strategy in 2021. The company currently holds 150BTC.

It has been reported that the U.S. state of Wyoming has issued its own stablecoin. According to Eleanor Terrett, host of Crypto in America, on the 19th (local time), the state of Wyoming in the United States has issued the Frontier Stable Token (FRNT). This marks the first stablecoin issuance by a U.S. state government. FRNT is backed by U.S. dollars and short-term government bonds, and is issued on Ethereum (ETH), Solana (SOL), Arbitrum (ARB), Polygon (POL), Avalanche (AVAX), Optimism (OP), and Base (BASE). However, due to regulatory issues, it has not yet been made available to the public.