Bitcoin
Why Bitcoin is up 1.6% today
Analysis
Bitcoin rose 1.6% over the past 24 hours as markets digested constructive institutional and financing headlines, including Ledn’s $188M sale of bitcoin-backed bonds that signals continued demand for BTC-collateralized products (Bitcoin Magazine). Separately, reporting that a UAE-linked mining operation is sitting on $344M in unrealized profit (excluding energy costs) reinforced the narrative of strong profitability in parts of the mining sector, supporting sentiment around the asset (The Block).
Contributing Factors (3)
Bitcoin activity down 42% – Why analysts expect deeper BTC pullback
ETF investors and self-custody holders are feeling the heat!
UAE-linked bitcoin mining amasses $344 million unrealized profit excluding energy costs: Arkham
Arkham attributes approximately $344 million in unrealized profit to wallets linked to UAE royal family–affiliated mining operations.
Ledn Sells $188M Bitcoin-Backed Bonds in First-of-Its-Kind Deal
Bitcoin Magazine Ledn Sells $188M Bitcoin-Backed Bonds in First-of-Its-Kind Deal Crypto lender Ledn Inc. has officially sold $188 million in securitized bonds backed by Bitcoin-linked loans. This post...
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