"Hey, it looks like the movement of BTC this week will continue to move horizontally, right?"
The price of cryptocurrency king Bitcoin (BTC) is still trading below $44,452 even though the release of United States (US) jobs data (NFP) for December 2023 last Friday was 216,000 higher than the expected 170,000.
Despite this, the unemployment rate remained unchanged at 3.7% and a strong jobs report led to a decline in the price of risky assets such as crypto, but BTC may be safe from a prolonged selloff due to the potential expected approval of the spot BTC ETF.
This is because the Securities and Exchange Commission (SEC) is likely to approve more than a dozen BTC ETF spot applications in the next few days, so the crypto market is not expected to be affected by the NFP report.
Meanwhile, also stealing the spotlight is the issue of an unknown BTC user who transferred 26.9 digital assets worth $1.17 million to the genesis wallet which is the first wallet on the BTC network established by Satoshi Nakamoto.
The amount is sent from the empty wallet to the genesis wallet accompanied by a $100 transaction fee and it should be known that the initial funding of the wallet involves transferring funds from three wallets to 12 others.
According to Conor Grogan, a director at Coinbase theorized that the transaction was either Nakamoto 'woke up' and deposited BTC from Binance or someone burned over $1 million.
Please note a recent transaction has increased his current balance to 99.67 BTC worth approximately $4.3 million.
As of this writing, BTC price has plunged by 0.63% to $43,816 in the last 24 hours with a market cap of $858 billion but is still up 3.15% over the last week.
