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- #Over 100 Companies Hold Over 830,000 BTC#
According to reports as of June 19, more than 100 companies collectively hold over 830,000 BTC, worth about $86.476 billion.
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The most important factors affecting future market trends are the results of the US election and expectations of a Fed interest rate cut.
Market analysis believes that if Trump wins the election, the Russo-Ukrainian war may come to a conclusion, and the end of the Russo-Ukrainian war will inevitably bring a pump to the global overall market. The encryption market may also see a pump. In addition, as an encryption-friendly person, Trump may further increase the mainstream acceptance of the encryption industry and enhance the expectation of favorable information for the encryption industry after taking office.
In addition, the market has been anticipating the significant Favourable Information of the Fed's interest rate cut this year. Fed Chairman Powell has expressed his views on the interest rate cut in 2024 on different occasions. In a speech in April, he mentioned that a cautious approach should be taken to the interest rate cut and that starting the interest rate cut in the same year "may be appropriate". In addition, he may give a more explicit indication of the interest rate cut timetable at the June FOMC meeting.
Overall, the current market trend is sluggish. Apart from the Fed's announcement of interest rate cuts, we can only hope for Favourable Information brought by the progress of the US election. At present, Trump's chances of winning are still relatively high, looking forward to a pump in November.
Analyst Axel Adler Jr posted on X platform that ordinary investors have realized 84% unrealized profits from their BTC investments. The price is close to the average of $52,200 (PR Bands), which would reduce unrealized profits by about 14%, and investors may choose to take profits due to concerns about further price declines. He also stated that the price level worth following at the moment is $46,400, which is the average purchase price of BTC over the past year.