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Bitcoin News Update: Top Executives Accumulate ETH and BTC During $1.1B Sell-Off, Highlight 100x Growth Opportunity

Bitcoin News Update: Top Executives Accumulate ETH and BTC During $1.1B Sell-Off, Highlight 100x Growth Opportunity

Bitget-RWA2025/11/18 04:40
By:Bitget-RWA

- Bitcoin fell below $90,000 amid $1.1B liquidations, with BitMine/Bitwise executives predicting long-term "supercycles" for BTC/ETH despite short-term volatility. - BitMine added 54,156 ETH ($170M) to holdings, while Hyperscale Data bought 59.76 BTC via dollar-cost-averaging, signaling institutional confidence in crypto's value. - ETF outflows ($870M in one day) and LTH selling (815,000 BTC in 30 days) highlight bearish fundamentals, with $102,000 as critical support for Bitcoin. - Fed officials' cautious

On Friday, Bitcoin slipped under $90,000, continuing its downward trend in a turbulent market as speculation grows that a bottom could be reached in the coming weeks. Leaders from BitMine and Bitwise, two prominent names in the cryptocurrency industry, expressed measured optimism. Tom Lee of BitMine forecasted a prolonged "supercycle" for

and . The recent downturn, within a single day, has brought increased attention to institutional interest and broader economic influences, such as Federal Reserve actions and .

BitMine Immersion Technologies, a publicly listed Ethereum treasury company, acquired an additional 54,156 ETH (valued at $170 million) last week, raising its total holdings to 3.559 million ETH—almost 3% of all ETH in circulation.

and is down 35% from its August high, BitMine Chairman Tom Lee remains optimistic. He pointed to Ethereum’s potential to increase in value by 100 times over the long run, drawing parallels to Bitcoin’s growth since 2017. " ," Lee commented. His remarks come after a broader market pullback triggered by a $19 billion liquidation in October, which he attributed to a "wounded market maker" pulling back on liquidity.

Bitcoin News Update: Top Executives Accumulate ETH and BTC During $1.1B Sell-Off, Highlight 100x Growth Opportunity image 0

At the same time, companies focused on Bitcoin are increasing their investments. Hyperscale Data, an AI-driven data center firm,

between November 10 and 14, with an average purchase price of $100,405 per Bitcoin. Their approach of dollar-cost averaging demonstrates ongoing faith in Bitcoin’s future value, despite current prices staying below $100,000. Hunter Horsley, CEO of Bitwise Asset Management, shared a similar view, describing the present Bitcoin price as a " " for large investors. Bitwise reported its strongest quarterly inflows in seven years, even as in just one day.

Market indicators continue to show a bearish trend.

their second-highest outflows since inception, while Ethereum ETFs saw $260 million withdrawn. Blockchain data shows mounting selling activity, with over the past month—the most since early 2024. The 365-day moving average, now at $102,000, has become a crucial support level; a more significant market decline.

Statements from Federal Reserve officials have also influenced investor sentiment.

a rate cut in December, stressing that inflation is still too high. Neel Kashkari of the Minneapolis Fed, while undecided on future policy, . These comments have kept interest rates elevated, discouraging risk-taking and contributing to crypto’s weaker performance compared to traditional markets.

Despite short-term volatility, underlying growth drivers remain.

and supportive regulatory trends as key factors for future growth, while RockToken and FY Energy have launched infrastructure-backed investment products to draw in institutional funds. These developments are designed to establish crypto as a reliable, income-generating asset class as regulations become clearer and adoption expands.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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