TLDR
- Bitcoin hits an all-time high of $125,782, boosting Satoshi’s wealth to $136B.
- Ethereum whale moves $426M to Binance while Ethereum tests $4,563 price level.
- Zcash sees a 283% surge, hitting $176.20, fueled by privacy narrative growth.
- El Salvador’s Bitcoin holdings yield $475M in unrealized profits amid growth.
Bitcoin has once again set a new record, with its price hitting an all-time high of $125,782. This surge has also boosted the net worth of Bitcoin’s mysterious creator, Satoshi Nakamoto, to over $136 billion. Meanwhile, Ethereum is showing signs of growth, with whale activity increasing and key price levels being tested. Zcash, a privacy-focused altcoin, has also caught the market’s attention with an extraordinary price surge.
Bitcoin Reaches Record High, Satoshi’s Net Worth Hits $136 Billion
Bitcoin has surpassed $125,000, reaching a new all-time high of $125,782. Despite a slight dip to $123,440, the cryptocurrency has maintained its strong position. The surge has pushed the total market capitalization of Bitcoin’s holdings to an impressive level, with the creator’s wallet, containing 1.096 million BTC, now valued at $136.28 billion.
This makes Satoshi Nakamoto one of the wealthiest individuals in the world, placing them among figures like Warren Buffett and Bill Gates.
The recent price movement highlights Bitcoin’s continued appeal as a store of value, particularly during times of economic uncertainty. As global financial stress grows, Bitcoin is being viewed by many as “digital gold.” While some market analysts are keeping a close eye on the resistance levels near $126,000, others are optimistic that Bitcoin could break through these levels and possibly reach the $130,000-$135,000 range in the coming weeks.
Ethereum Whale Movements Stir Market Attention
Ethereum has seen significant whale activity recently. One notable transfer involved a dormant wallet moving 4,500 ETH, worth approximately $20.4 million, to Kraken. In total, this wallet has moved over 5,500 ETH in the past few months. Another substantial movement occurred with Trend Research, which transferred 96,100 ETH, or about $426.89 million, to Binance since October 1.
The on-chain movement has raised concerns among analysts, who see this as a sign of potential profit-taking. However, some suggest that these transfers may be part of larger strategies, not necessarily a sign of exit from Ethereum. Ethereum’s price is currently testing the $4,563 level, with resistance observed between $4,600 and $4,800. A breakout above this zone could push Ethereum towards new all-time highs, potentially reaching $5,000.
Zcash Surges 283%, Privacy Focus Gains Traction
Zcash (ZEC) has emerged as one of the most surprising performers in the cryptocurrency market, with its price surging by 283% over the past month. ZEC recently hit a high of $176.20, marking a dramatic reversal from its previous dormancy. The surge comes as privacy narratives within the crypto space gain attention, especially after Ethereum and Ripple discussed enhancing confidentiality features.
The renewed interest in Zcash is attributed to its strong privacy features, which make it appealing to traders looking for anonymity. The current price of ZEC stands at around $155.75, with Fibonacci levels predicting potential targets between $221 and $318. Some analysts suggest that if the momentum continues, ZEC could even reach $476-$614.
Bitcoin’s Key Levels and Ethereum’s Outlook
As Bitcoin continues to climb, its key level remains at around $126,000. If Bitcoin can hold above this level, there is a possibility that it could trigger a cascade of liquidations, pushing the price even higher. On the other hand, Ethereum’s price is testing the $4,563 level. If it can break above $4,800, Ethereum may be poised for its next leg of growth, with a potential to reach $5,000.
For altcoins, Zcash remains the standout, showing impressive growth and potential for further gains. Other altcoins like SPX and PENGU are also gaining traction, though they still trail behind ZEC in terms of market activity. Investors are advised to keep a close eye on these developments as the market continues to evolve.
