Bitcoin whales appear to be realizing their profits from BTC’s latest rally, as on-chain analysts have identified a surge in inflows to centralized crypto exchanges.

According to a CryptoQuant Quicktake by anonymous crypto analyst Phi Deltalytics, BTC whale inflows to exchanges currently constitute a substantial portion of overall flows to trading platforms.

Whales May Be Taking Profits

A separate Quicktake from analyst Woominkyu on April 25 revealed that the unrealized profits of long-term bitcoin whales had gotten high, especially with BTC hovering above $60,000. Analyzing the chart in his post, Woominkyu explained that whales were seeing an increase in their profits, but they had not cashed out yet.

The analyst identified a spot on the chart that indicated a significant rise in their unrealized profits, suggesting that this cohort of BTC investors was holding onto their positions. However, he warned that a move to realize the profits would impact the market.

Around 24 hours after Woominkyu’s post, Phi Deltalytics announced the notable surge in bitcoin exchange inflow, the majority of which appears to be from whales.

“This uptick potentially signifies significant profit-taking by whales amidst the 2024 Bitcoin bull run. While acknowledging that such metrics occasionally generate false signals, prudent caution is warranted in interpreting market dynamics,” Phi Deltalytics said.

Long-term Holders Are Cashing Out

Besides bitcoin whales, long-term holders of the digital asset have also been cashing out. Three days ago, Woominkyu observed that the Spent Output Profit Ratio (SOPR) of long-term holders had surged past that of short-term holders over a seven-day moving average. This indicates that the former cohort is realizing more profits than short-term holders.

Additionally, Woominkyu explained that the SOPR of long-term holders has decreased over the years. However, there are occasions where the ratio experiences an uptick, which precedes spikes in bitcoin’s price. Those upticks have revealed that long-term investors are capitalizing on price surges to realize price. Investors are urged to exercise caution against potential price corrections and increased volatility as the SOPR is currently high.

Meanwhile, BTC is consolidating between $60,000 and $70,000, meaning the cryptocurrency could witness a major slump if it rallies to $70,000 and gets rejected there. At the time of writing, the asset was changing hands at $64,100, registering insignificant gains or losses in the past 24 hours.

[PRESS RELEASE – Łódź, Poland, April 26th, 2024]

RoboHero, the first turn-based multiplayer WEB3 mobile game, has announced the date of the TGE, which will take place on Monday, April 29, 2024, at 12:00 UTC on Mexc.com.

The $ROBO token supported by Polygon will premiere on the MEXC exchange, which currently serves more than 10 million users in more than 170 countries and regions around the world. Every day it strives to become a platform for both new traders, and experienced users who are moving forward in their crypto journey. The initial value of the $ROBO token will be $0.013.

RoboHero is a turn-based strategy mobile game within a post-apocalyptic world dominated by robots. Designed for both Web2 and Web3 players, the game ensures that all users can access its complete features without the need for cryptocurrencies. This approach positions RoboHero as a potential conduit between these two gaming spheres, enticing traditional gamers to explore the opportunities of the Web3 market.

RoboHero offers two main game modes that will allow players to fully immerse themselves in this fascinating world:

• Story Mode: in story mode, players experience an epic adventure, learning the history of the RoboHero world. Complete missions, gather resources and build up their robot army. Players discover the secrets of the different fractions, their robot classes and unique abilities. This mode allows players to hone their tactical skills and prepare for real battle.
• Multiplayer Mode: players will face off against other players from around the world in exciting multiplayer battles. Utilize character acquired skills, resources, and tactics to defeat opponents and climb to the top of the rankings. In this mode, only victory matters, and user strategy and skilled command of robots will be the key to success.

Tokenomics is designed so that the game constantly collects token supply from the market. All NFTs – skins, lands, billboards for upgrades can only be purchased with $ROBO. The project burned 50% of the tokens in the first NFT series.

The project’s successes to date, such as selling out all the tokens during IDO on SpartaDex in 30 seconds and Spores in 50 minutes, are fueling the optimism of its creators, who have been working vigorously on its development for more than 3 years. RoboHero is playable and available before TGE, and the open beta will begin shortly thereafter.

Learn more about RoboHero at https://robohero.io/.

Follow RoboHero on X: https://twitter.com/RoboHero_io

Join on Discord: https://discord.gg/hAmY36DXdd

Bitcoin could be headed to $1 million after a tsunami of newly printed cash drives up all asset prices, according to Strike CEO Jack Mallers.

The executive, whose payments app lets people remit fiat currency around the world on Bitcoin rails, said in a Friday interview that money printing will be required to bail out the U.S. bond market, which he claims is “in trouble for the first time in modern financial history.”

A Recipe For Money Printing

According to Mallers, the U.S. government and the Federal Reserve have two options: either let the banking system fail, or print their way out of the mess.

“I think historically, governments and empires have picked inflation running hot,” he said. “I expect inflation to run hot, and the currency to be debased.”

The CEO claimed that the entire banking system is “insolvent,” including JPMorgan and Bank of America.

In March 2023, institutions like Silicon Valley Bank collapsed after experiencing a run on withdrawals. The collapse was spurred by revelations that they’d realized a massive loss on their underwater long-term bonds, which plummeted in value after the Federal Reserve began hiking interest rates the year prior.

“The central banks and government is going to try and save that market,” Mallers argued. The liquidity required for the rescue may equal “two or three Covids,” he said, which would boost asset prices as a byproduct.

How Bitcoin Hits $1 Million Per Coin

“I think $250,000 to $1,000,000 is the imagination I have, in that range, of just how big (Bitcoin) can get,” he added.

Mallers’ predictions echo those of BitMEX co-founder Arthur Hayes, who regularly writes about the precarious tension between inflation and government debt. At Token2049 this month, the essayist claimed that Bitcoin will surge well past $100,000 this cycle, as real interest rates continue to trend negative relative U.S. GDP.

Other industry leaders with price predictions surpassing $1 million include Jan3 CEO Samson Mow, and Ark Invest CEO Cathie Wood.