Big news: Bitcoin whale wakes up after five years!

Big Bitcoin whale stirs after five-year nap!

Bitcoin wakes up! A major Bitcoin holder, known as a whale, has moved a massive 8,000 BTC (worth roughly $536.5 million) out of cold storage after a very long break of five and a half years.

The transaction, which took place on June 11th, involved transferring the entire stash from a Coinbase cold storage wallet to a Binance deposit address. Interestingly, there were no test transactions before this big move, which signals a potentially significant shift by this whale.

This event highlights the activity of major Bitcoin holders and could potentially influence market movements. Keep an eye on Bitcoin news to see how this shakes out!

Degens Assemble! BasedTrading Blazes Onto Base

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Bitcoin ETF Hype Meets Cash-and-Carry Chill

Hold on, cowboys! While US Bitcoin exchange-traded funds (ETFs) are seeing big inflows, the party atmosphere might be dampened by a strategy called "cash-and-carry." Analysts say investors are using these ETFs to buy Bitcoin (longing the spot market) while simultaneously betting against it (shorting futures) on the CME.

This "cash-and-carry" strategy involves buying an asset in the spot market and shorting a futures contract that settles at a higher price later. CME's futures market is booming with open interest exceeding $8 billion, suggesting traditional investors are jumping on this arbitrage play.

Hedge funds seem to be leading the shorting charge, with massive net short positions in both Bitcoin and Micro Bitcoin futures on the CME. This suggests the ETF inflows might not translate directly into soaring prices, as some investors are using them for short-term gains rather than long-term bets on Bitcoin.

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