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QCP Capital: Bitcoin remains firmly driven by market sentiment, with little impact from this week's Federal Reserve meeting

ChainCatcher news, Singaporean crypto investment firm QCP Capital stated today that earlier in the Asian session, Bitcoin surged past $106,500, reaching another milestone. In the past 12 hours, the total amount of short liquidations reached approximately $151 million, driving this rally, as the weekend market lacked liquidity and traders became overly complacent (the funding rate on Deribit briefly turned negative), leading to a squeeze on short positions in the market. The Bitcoin-to-gold ratio reached an all-time high during this wave, further highlighting Bitcoin's status as "digital gold" and solidifying its position as a more popular store of value than traditional gold.The inclusion of MicroStrategy in the Nasdaq 100 index further boosted market sentiment. Michael Saylor hinted that even if the spot price exceeds $100,000, the company may continue to purchase Bitcoin. This inclusion could attract passive capital into MicroStrategy's stock, thereby indirectly making it easier for the company to raise funds to buy Bitcoin. This week's Federal Reserve meeting seems to be merely background noise for Bitcoin, as its movements remain firmly driven by market sentiment. Although the likelihood is low, if the Federal Reserve and Powell take an extremely dovish stance, it could still provide support for further increases in Bitcoin.

PlatON has reached a strategic cooperation with UXUY to provide a seamless payment experience for 900 million Telegram users

ChainCatcher news, the fully digital public infrastructure PlatON has reached a strategic cooperation with UXUY, successfully integrating the UXUY Telegram wallet, which will provide comprehensive fiat and digital currency services for the Telegram ecosystem, aiming to bring a seamless payment experience to 900 million users.UXUY, incubated and invested by Binance Labs, is the next-generation decentralized multi-chain infrastructure. Based on the Telegram ecosystem, UXUY offers multi-chain DApp access services and an application center, and provides comprehensive support such as technology and traffic for qualified DApps through the Puzzle Plan. PlatON's Web3.0 payment clearing system TOPOS supports merchants and users in non-custodial holding of Web3 assets. This collaboration aims to provide global merchants and users with secure and efficient payment solutions, accelerating the global adoption and application of stablecoins. Both parties will jointly explore more possibilities for Telegram in the payment field, leveraging the TOPOS payment clearing system to offer better exchange rate support and lower transaction fees for a wide range of merchants and users.UXUY founder Kevin stated, "Telegram users can access the PlatON ecosystem with one click through UXUY, experiencing seamless instant digital currency exchange and fund access. We will actively promote subsequent cooperation to jointly improve the crypto multi-chain landscape of Telegram."
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