CandleFocus Metaplanet Picks Up Record 620 Bitcoin as XRP Leads Market Slide
2024-12-23
Author: Content Editor
In the past 24 hours, XRP has dropped 3%, while Bitcoin started the week in the red. Japanese bitcoin accumulator Metaplanet (3350) announced its largest purchase, buying a record 619.70 BTC for $61 million, increasing its BTC holdings by 54%. Other major tokens such as Ether, Cardano's ADA, Solana's SOL, and Dogecoin are all down as much as 2%. However, Chainlink's LINK and Tron's TRX gained. Metaplanet has acquired a total of 1,762 BTC for $133.2 million this year and has been experimenting with novel ways to fund its bitcoin buys. Market watchers are cautious with a short-term bearish bias due to profit-locking and potential stock market declines. The current support level is around $95.5K for Bitcoin, and a potential dip into the $70K area is possible.
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