Hassan Maishera
TL;DR
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Bitcoin has steadied above $108k ahead of macro data releases later this week.
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Metaplanet has also purchased another 1,005 bitcoins, bringing its total to 13,350.
BTC Steadies Above $108k Ahead of Data Releases, Powell Speech
BTC, the leading cryptocurrency by market cap, is having a positive start to the week. It is up 1% in the last 24 hours and now trades at $108,209. The coin could rally higher in the near term ahead of crucial macro data releases this week.
Traders will keep an eye on several upcoming macroeconomic data releases and remarks from major central bank officials speaking at the European Central Bank forum this week.
Fed Chair Jerome Powell will speak on Tuesday at an ECB forum panel alongside central bank governors from the UK, South Korea, and Japan. Powell has maintained his stance that the Fed was in no rush to lower interest rates, with President Trump accusing him of keeping rates "artificially high."
The May job openings from the U.S. Job Openings and Labor Turnover Survey, as well as June nonfarm payrolls and the unemployment rate, will play a key role in how Bitcoin and other major cryptocurrencies perform this week.
Metaplanet Purchases 1,005 Bitcoins
Japanese firm Metaplanet continues its Bitcoin-buying spree after splashing another $108 million this week. The company purchased 1,005 bitcoins for $108 million, bringing its total holdings to 13,350 BTC, surpassing those of Galaxy Digital and CleanSpark.
Metaplanet’s CEO revealed that the company purchased the latest batch of bitcoin for $108.1 million at an average price of $107,601 per bitcoin. It currently holds 13,350 BTC, worth about $1.4 billion based on the current market price.
