Bitcoin Holds Above $43,000 as Crypto Market Sees Bullish Breakout

Bitcoin maintained its position above $43,000 during the European morning on Friday, with gains of around 2% in the last 24 hours. The 20 Index, which tracks the performance of the top digital assets, rose over 3.2%, led by Chainlink’s LINK. LINK reached a 22-month high above $18, gaining nearly 30% in the last week, outperforming major cryptocurrencies like BTC and ETH. This rally signifies a bullish breakout from the three-month range that has kept it between $13 and $17, indicating a continuation of its recovery from the lows of June 2023, when it was trading near $5.

AI crypto tokens experienced a rally in the last 24 hours following Meta’s quarterly earnings report, which exceeded analyst expectations. The technology giant, formerly known as Facebook, announced a significant increase in revenue and an additional $50 billion stock buyback on Thursday. This news propelled artificial intelligence tokens, such as Render (RNDR) and Fetch.ai (FET), resulting in a nearly 10% increase in the Indices’ Computing Select Index (CPUS) over the last 24 hours. In comparison, major crypto assets gained nearly 3%, according to the 20 Index. Since CEO Mark Zuckerberg announced Meta’s pivot to AI approximately a year ago, the company’s stock has more than doubled.

Binance, one of the largest cryptocurrency exchanges, froze $4.2 million worth of XRP following a $120 million exploit earlier this week. CEO Richard Teng stated in a post that XRP Ledger developers had alerted exchanges about the exploit and requested them to monitor deposits related to the exploiter’s wallets. The stolen tokens were reportedly taken from a wallet belonging to Ripple Labs Executive Chairman Chris Larsen. Larsen confirmed that there had been a breach in his “personal XRP accounts,” but not in Ripple itself. Blockchain investigator ZachXBT claimed that 213 million XRP tokens were siphoned from a large wallet on the XRP Ledger blockchain and subsequently laundered through multiple exchanges, including Binance, Kraken, and OKX.

In other news, Glassnode’s chart of the day reveals a decline in the number of bitcoins held in wallets associated with miners. The tally has dropped to 1,814,691 BTC, the lowest since July 2021. This suggests that miners are reducing their inventory ahead of Bitcoin’s fourth reward halving, scheduled for April.

In conclusion, Bitcoin continues to hold its ground above $43,000, while Chainlink’s LINK leads the charge with a 22-month high. AI crypto tokens rally following Meta’s positive earnings report, and Binance freezes XRP tied to a recent exploit. Additionally, miners are reducing their bitcoin inventory ahead of an upcoming reward halving event.