Bitcoin Holds Steady at $61K, Whales Accumulate While XRP Dips 10% Amidst SEC Appeal

Bitcoin Consolidates Near $61K as Whales Accumulate

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Bitcoin (BTC) has been trading sideways near $61,000, exhibiting a period of consolidation after a recent surge. Analysts believe this price stability could be attributed to continued accumulation by large investors, known as whales, who are strategically building their BTC holdings. This suggests a potential bullish outlook for Bitcoin, with some expecting further upward momentum in the coming weeks.

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XRP Takes a 10% Hit as SEC Appeals Case

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XRP (XRP) has experienced a 10% drop in price after the Securities and Exchange Commission (SEC) filed an appeal against a recent court decision that favored Ripple Labs. The appeal aims to overturn the ruling that deemed XRP not to be a security under US law, creating uncertainty and volatility in the XRP market. This development has raised concerns among XRP holders, prompting a sell-off and further market instability.

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AI Tokens Remain Unmoved Despite OpenAI’s $6.6 Billion Fundraise

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Despite OpenAI, the renowned artificial intelligence research company, securing a massive $6.6 billion funding round, AI-related crypto tokens have failed to capitalize on the news. While the event signifies a significant investment in the AI sector, it has not translated into immediate gains for AI-focused cryptocurrencies. This suggests that the market is still evaluating the impact of OpenAI’s funding and its potential to influence the future of AI tokens.

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