BTC stabilizes above $60,000, a new positioning moment may have arrived
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BTC stabilizes above $60,000, a new positioning moment may have arrived
BTC stabilizes at $60,000, entering a golden buying zone.
Navigating Web3 tides with focused insightsSince Bitcoin completed its fourth halving on April 20, the market has experienced several weeks of volatile trading.
BTC Stabilizes at $60,000, Entering the Golden Buying Zone
Historically, Bitcoin's price has surged significantly after each halving event. Following the 2012 halving, its value skyrocketed by 9,500%, a remarkable rise. After the 2016 halving, Bitcoin's price increased by 3,000% over the following year. The post-2020 halving period saw a more moderate increase of 650%.
This time, Bitcoin has seen an 110% price surge amid significant volatility. One week before the halving, it dropped from $73,000 to $60,000—a 17% decline. The shutdown price for mainstream Bitcoin mining machines is around $60,000, suggesting strong support is likely at this level.
Blockchain analytics platform Santiment reported that in response to recent market declines, Bitcoin whales have taken advantage of the "golden buying zone," accumulating more BTC during the dip. On May 9, the firm noted on social media that addresses holding over 1,000 BTC showed signs of accumulation over the past 24 hours as prices fluctuated between $61,000 and $64,000. Wallets holding 1,000–10,000 BTC collectively accumulated tokens worth approximately $941 million, rebounding to their highest holdings in two weeks. This indicates that "despite the price drop to $62,000, large Bitcoin investors continue to show confidence."
Arthur Hayes, co-founder of BitMEX, analyzed that U.S. tax season, concerns over future Federal Reserve policy, the completion of the Bitcoin halving, and slowing growth in assets under management (AUM) for U.S. Bitcoin ETFs collectively triggered a necessary market correction over the past two weeks. He views the recent sharp sell-off as an excellent opportunity to unlock USDe and allocate synthetic dollars into high-beta altcoins. He plans to spend the rest of May increasing his personal positions and then hold, awaiting market recognition of the inflationary nature of recent U.S. monetary policy announcements.
Negative Fees, High Rewards: HTX Trading Mining Enhances User BTC Trading Experience
Growing evidence suggests that Bitcoin’s current price range presents an ideal opportunity for strategic buying. In response, HTX (formerly Huobi) has launched a trading mining campaign offering negative-fee BTC trading alongside massive rewards, better meeting user demand and enhancing overall trading experience.
HTX's trading mining campaign includes both spot and derivatives trading. Users can participate by trading the BTC/USDT spot pair or the BTC/USDT perpetual contract, sharing daily prize pools of up to 100,000 USDT equivalent in $HTX tokens. Participants must have a Rocket Score ≥300 and successfully register on the event page.
In addition to supporting both spot and futures trading simultaneously, HTX's trading mining introduces an innovative 7×24 hour reward mechanism. Each day’s prize pool is evenly divided into 24 time slots, with rewards refreshed hourly on the hour, ensuring equal participation opportunities across different time zones. It should be noted that hourly rewards are distributed on a first-come, first-served basis, determined by the actual timestamp of users’ trade execution. Publicly available information shows Maker orders receive a 110% reward ratio, while Taker orders receive 105%. The maximum daily reward per user is capped at 3,000 USDT for spot trading mining and 5,000 USDT for derivatives trading mining.
Since launching spot trading mining, HTX has stood out among numerous platforms and financial tools, achieving high market engagement and positive reviews. Notably, during its recent special edition derivatives trading mining event celebrating the Bitcoin halving, the 100,000 USDT trading reward was fully claimed within just 10 minutes. Given this track record, HTX’s trading mining program proves to be a reliable investment and wealth-building tool.
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