Here's Catalyst for BTC's Potential 6,000% Rise, 9.25 Trillion SHIB May Be Burned This Month, $1.19 Million Sent to Satoshi BTC Wallet in Mysterious Transfer: Crypto News Digest by U.Today

U.Today - U.Today has prepared a summary of the top three news stories over the weekend.

Bitcoin: Here's real catalyst for BTC's potential 6,000% rise

While crypto market participants around the world held their breath awaiting the SEC's decision on a spot Bitcoin ETF approval, looking at the positive outcome as fuel for BTC's price surge, that everyone is looking in the wrong direction. Ali, a top market expert known as @ali_charts on the X platform, wrote in his latest post that regardless of what happens with the Bitcoin ETF, we have another bullish catalyst to watch for, which is the Bitcoin halving. According to Ali, the halving event has historically triggered major price surges of BTC. To back up his words, Ali attached a chart showing Bitcoin's price performance 365 days after past halvings. Per this chart, the BTC price increased by more than 6,000% following the first halving event, which saw BTC mining rewards slashed to 25 BTC.

Whopping 9.25 trillion SHIB may be burned this month, Shiba Inu rep states

According to made by @RagnarShiba, the admin of Telegram group Shibarium Tech, the Shiba Inu team may be getting ready to burn 9.25 trillion Shiba Inu tokens. This amount of meme coins is likely to come from the $1 million worth of BONE that the team reported in late November. As a reminder, Shiba Inu lead Shytoshi Kusama earlier rejected the concept of burning not only Shiba Inu but also BONE tokens, which is why $1 million worth of fees will eventually be changed into Shiba Inu and removed from circulation. Meanwhile, in a blog post issued at the beginning of December, the Shiba Inu team that starting in January, the new upgrade will allow them to start burning SHIB in an automated mode.

Satoshi Bitcoin (BTC) wallet mystery: $1.19 million transaction landed

On Friday, Jan. 5, worth $1,191,134 was made, which sent the entire crypto community abuzz. The peculiarity of this transaction is its final destination — the ancient address known as the "Satoshi Nakamoto wallet." The identity of the sender remains as yet unknown. Interestingly, 50 minutes before sending Bitcoin to the Satoshi Nakamoto wallet, this person withdrew that entire amount of orange coins (almost 27 BTC) from the Binance exchange. Crypto enthusiasts proposed three theories explaining potential reasons behind the transaction. First, it may serve as a tribute to the Bitcoin creator, as it took place two days after the 15th anniversary of the BTC mainnet. Second, someone could have sent this huge sum of money by mistake. Third, this might be another attempt to provoke euphoria in anticipation of the SEC's approval of the Bitcoin ETF.

This article was originally published on U.Today