Bitcoin, Ethereum, XRP, Dogecoin Up As Trump Media Group Announces Bitcoin Acquisition Plan

Cryptocurrency markets are up on Tuesday amid reports of Trump Media Group pursuing a Bitcoin acquisition strategy.

Notable Statistics:

• IntoTheBlock data shows large transaction volume increasing by 32% and daily active addresses growing by 21%.
• Coinglass data reports 161,179 traders were liquidated in the past 24 hours for $563.57 million.

Notable Developments:

• Michael Saylor Calls Proof Of Reserves A ‘Crypto Parlor Trick’, But Binance’s Ex-CEO CZ Isn’t Having It: ‘He Probably Sold Bitcoins’
• Dogecoin, Shiba Inu And Other Meme Coins Are Entry Points To Crypto Ecosystem: Report
• Fraudster Sam Bankman-Fried Set To Leave Prison Four Years Early As ‘Good Conduct’ Credits Trim His 25-Year Sentence
• Dogecoin’s Chart Screams Caution As Bulls Get Rejected Again

Trader Notes: Prominent trader Pentoshi remains bullish on both ETH and SOL, saying Ethereum “still looks good” and Solana is “knocking at resistance.”

Trader Altcoin Sherpa warns of trying to short Bitcoin, calling it “the greatest asset on the planet.”

The Flow Horse points out Bitcoin’s divergence from the S&P 500, which is up 2% on the day, musing whether the apex crypto is lagging or “congested.”

Former Fox Business reporter Eleanor Terrett flagged Wyoming’s GOP senator Cynthis Lummis‘s panel discussion at the Bitcoin conference, where the latter hinted at the U.S. government withholding information about the exact amount of Bitcoin it holds in its reserves.

Read Next:

• TRUMP Meme Coin Dinner Turned Into High-Net-Worth Crypto Networking: ‘Trump Was There For 20 Minutes’

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