Michael Saylor: ETH Merge Will Strengthen Bitcoin's Position
Michael Saylor on ETH Merge and Bitcoin's Strength
Michael Saylor, a prominent Bitcoin advocate and MicroStrategy board chairman, believes the Ethereum merge will enhance Bitcoin's position rather than weaken it. He argues that Ethereum's shift to proof-of-stake (PoS) may reduce its appeal as a digital commodity, unlike Bitcoin, which relies on proof-of-work (PoW).
Bitcoin Addresses Hit New High
The number of addresses holding at least 1 BTC reached an all-time high, signaling strong adoption. Additionally, the total supply of BTC last active over 10 years has surged to a record 2.5 million, indicating long-term holder confidence.
BTC Derivatives Activity
Over $27 million in BTC futures were liquidated in the past 24 hours, with open futures contracts valued at $14.68 billion. This highlights active trading activity in both long and short positions.
Current Market Standings
Bitcoin is trading above $20,000 at $20,063.82, showing minor daily gains but still down 7% weekly. Ethereum, at $1,456.93, has seen a 1.65% daily increase but remains 7% lower over the week.
This analysis reflects Bitcoin's resilience and investor sentiment amid broader market fluctuations.
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