2 minutes reading time (486 words)

Daily Dose: A Buffet With Buffett

Bitcoin has made its move towards a retest of resistance levels at 10,000 - with BTC currently sitting at around 9,800. The daily chart shows us a 'golden cross' as the 20-day MA and 200-day MA crossed each other at the start of this week, which is a heavily bullish indicator. The last similar golden cross we saw was back in April 2019, when BTC moved up from 5,000 to 12,000 in just two months. Should BTC indeed be gearing up for a bull run, next potential accumulation should be at around 10,000 - 10,500. This move up is invalidated if BTC is rejected at 10,000 and subsequently falls down below 9,000.

Global market cap is at $277B, while BTC's market cap is at $178B.

Tron founder and CEO Justin Sun finally had his charity lunch with billionaire Warren Buffett after a series of delays last year. Sun initially won a charity auction on eBay to have lunch with Buffett last June, with his winning bid at over $4.5 million. Their lunch happened on Jan. 23 in a private country club in Nebraska, along with founder of Litecoin Foundation Charlie Lee, Huobi CFO Chris Lee, Binance Charity Foundation head Helen Hai, and eToro CEO Yoni Assia.

Sun gifted Buffett with his first Bitcoin, as well as 1,930,830 of Tron's token TRX, 100 BTT, 100 WIN, and 100 USDT - all stored in a brand new Samsung Galaxy Fold. Their discussion reportedly centered on Tron, bitcoin, the crypto space, and blockchain technology, among others.

Binance users can now use their crypto holdings as collateral to fund futures trading. According to the exchange, this feature is called "Cross Collateral" meaning users can trade futures contracts using assets stored in their Binance wallets, without using coins to directly fund the trade.

According to data analytics firm Skew, open interest or the number of open futures contracts has risen 13.6% from $5.5 million to $13 million on the Intercontinental Exchange's (ICE) Bakkt platform. Chicago Mercantile Exchange (CME), Bakkt's rival also records a five-month high of 34.5% from $185 million to $ 249 million open interest. The rise in open interest is a sign that there is strength behind the recent price moves.

On the other hand, Bakkt's trading volume has declined since Dec. 18 from $44 million (6,601 BTC) to $27 million as of Feb. 5, 2020; $16 million out of $27 million is from physically settled futures contracts.

This Daily Dose was brought to you by our partner SCI News Channel.

 

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