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Just caught up with some interesting market moves this morning. Marathon Digital moved 298 BTC to a market maker right after announcing they'll start selling Bitcoin periodically to cover operational costs. Mining's getting expensive these days - they're paying around 70k per coin on average, though more efficient operations can do it cheaper. Curious to see how this impacts their holdings over time.
On the token side, Shiba Inu's making another push toward that 0.0000006 level. If it holds and climbs another 7% or so, we're looking at a 3.5 billion market cap, which keeps it in the top 30. Yesterday it was up over 11% before pulling back a bit - pretty healthy movement for a meme token honestly.
Meanwhile, Forbes dropped their crypto rich list and some names caught my attention. Jed McCaleb's net worth estimated at 3.9 billion, making him one of the wealthier Ripple cofounders in the space. Most of that wealth seems to come from his XRP sales over the years - he got a massive initial stake when Ripple launched. His cofounder Chris Larsen is sitting at 12.3 billion, ranking even higher. Pretty wild to see how much wealth concentrated in early crypto builders.
Markets are holding their breath for CPI data today though. If inflation comes in below 2.4%, Bitcoin could finally push toward 80k. Anything above 2.6% and we're looking at support levels in the 66-64k range. Bitcoin's currently around 72k, so there's definitely room to move either direction. Most likely we're in for some chop before the Fed decision next week.