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Bitcoin at $63,600 as Japan's Metaplanet moves 3,881 BTC between wallets
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- DeepHorus
Bitcoin traded near $63,600 on Wednesday as Japan's Metaplanet moved 3,881 BTC between wallets, a signal of active treasury management. The digital asset has stabilized after recent swings, while broader markets await key inflation data. Traders are watching the transfer for clues about the company's intentions.
Metaplanet, a Tokyo-listed firm, has been accumulating Bitcoin as part of its corporate strategy. The transfer could precede a sale or collateral arrangement, though no official statement has been issued. Analysts say the move aligns with Metaplanet's recent pattern of building digital-asset reserves.
In equity markets, US stock futures rose as AI-driven earnings lifted sentiment. CoreWeave surged 16% after hours on booming AI-compute demand, and Super Micro rallied 7.6% on a revenue forecast that beat the highest estimates. Nasdaq 100 futures advanced 0.3%, while Korea's Kospi jumped 4%, fueled by gains in Samsung and SK Hynix.
The focus now shifts to the July Consumer Price Index, due at 8:30 a.m. ET. Economists expect headline inflation to ease to 3.4% from 3.5% in June. This is the first inflation release since a weak jobs report cut September rate-hike odds to about 36%.
A softer CPI reading would strengthen the case for the Federal Reserve to hold rates unchanged. That could support both equities and cryptocurrencies, as lower uncertainty encourages risk-taking. Conversely, a hot inflation number might reignite rate-hike bets and pressure asset prices.
Investors are divided on the Fed's path, but the resilient AI sector provides a buffer. However, inflation remains the dominant risk for the ongoing rally in technology and digital assets. The outcome of the CPI report will likely dictate near-term market direction.
Looking ahead, volatility is likely to spike after the CPI release. Traders will also monitor Metaplanet's next move, as any large Bitcoin sale could impact prices. For now, Bitcoin holds above $63,000, but its trajectory hinges on macroeconomic signals.
