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Bitfinex: Bitcoin consolidates in the $100,000 range, but the market shows signs of stabilization

ChainCatcher message, Bitfinex post analysis, last week, Bitcoin reached an all-time high, breaking the $100,000 mark for the first time, hitting a historic high of $104,000. This marks a 111% increase from Bitcoin's low of below $50,000 during the summer. However, after the rebound, there was a significant 14.84% pullback, including a rapid 10% drop within just eight minutes, which is the largest pullback from the current all-time high since the sell-off before the U.S. elections. This pullback triggered over $1.1 billion in liquidations, with $419 million in Bitcoin long positions, highlighting the level of leverage in the market.Despite the market's extreme volatility, signs of stabilization are emerging. The realized profit metric had peaked at $10.5 billion daily but has now dropped to $2.5 billion, easing selling pressure. The futures funding rate has also normalized, indicating a decrease in speculative leverage. Although ETF inflows slightly slowed over the weekend, they remain a key source of support against the backdrop of long-term holders continuing to take profits. As Bitcoin consolidates above $100,000, the medium-term outlook remains bullish, and with the normalization of funding rates and easing selling pressure, there is potential for further upside as long as ETF inflows continue to increase.Additionally, the Federal Reserve is assessing potential policy shifts that the new government may undertake, while the economy remains supported by a resilient labor market and stable consumer demand. However, the uneven recovery across various sectors suggests a need for cautious optimism.

The South Korean Ministry of Economy and Finance signs the OECD Virtual Asset Information Exchange Agreement

ChainCatcher news, the South Korean Ministry of Economy and Finance announced that at the 17th Global Forum of the Organisation for Economic Co-operation and Development (OECD), the Multilateral Competent Authority Agreement on the Crypto-Asset Reporting Framework (CARF MCAA) was officially signed.The CARF MCAA is an institution established by the OECD in 2009, aimed at implementing standards for international tax transparency and the exchange of tax information. A total of 48 countries, including South Korea, Germany, Japan, and France, participated in this agreement. The signatory countries will exchange information on crypto-asset transactions based on the automatic information exchange framework for crypto-assets jointly developed by the OECD and the G20.According to the agreement, the exchange of information between countries will be implemented through separate negotiations among the signatory countries. The Ministry of Economy and Finance plans to amend relevant domestic laws starting in 2027 to facilitate the exchange of information on crypto-asset transactions and promote individual agreements.A relevant official from the Ministry of Economy and Finance stated, "Through this agreement, detailed information on crypto-asset transactions can be obtained, which will help enhance the transparency of the tax base related to crypto-asset income."
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