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The German government shifted another $56 million in Bitcoin to different platforms, continuing to offload portions of its massive Bitcoin trove and fueling volatility amid creditor payouts from Mt. Gox.
The German government transferred another $75 million in Bitcoin to exchanges, adding to its recent sales of seized reserves that have totaled over $390 million amid concerns over potential market impacts.
Germany transferred more Bitcoin to exchanges, leaving it with just $765 million of its massive seized reserves as its months-long liquidation spree nears its end.
The German government transferred another $95 million in seized Bitcoin to exchanges, sparking renewed concerns it may sell part of its massive Bitcoin reserves.
The German and U.S. governments make strategic moves with significant Bitcoin and Ethereum transfers, drawing market attention.
In a recent development, data from crypto analytics firm Glassnode shows that the amount of Bitcoin held on Coinbase has reached a 9-year low. This has raised the possibility of the flagship crypto rising to a new all-time high (ATH) of $75,000 soon enough. BTC Held On Coinbase Drops Significantly According to Glassnode, the Bitcoin balance on Coinbase dropped to a nine-year low of 344,856 on March 18. This suggests that Bitcoin investors are choosing to move their holdings off exchanges and hold for the long term rather than sell anytime soon. A move like this reduces the short-term pressure on Bitcoin and could spark an upward trend in BTC’s price. Related Reading: Why Is The Price Of LUNC And USTC Up Today? Meanwhile, the drop in BTC held on Coinbase looks to be a trend, with data from market intelligence platform Santiment showing a drop in the total amount of Bitcoin held on centralized exchanges (CEXs). This data is also supported by the fact that these exchanges have recorded more outflows than inflows lately. Further data from Santiment also shows that the supply on exchanges as of March 22 stood at just over 836,000 BTC compared to the 18.82 million BTC that resides out of these CEXs. The decline in the number of BTC held on exchanges is undoubtedly a welcome development, considering how the flagship crypto token has recently been plagued with a wave of profit-taking. Before now, the bearish sentiment surrounding BTC was further strengthened by JPMorgans theory that Bitcoin was overbought and that the crypto token could experience further price declines soon enough. However, with BTC back over $70,000, there is the belief that this is just the beginning of an upward trend that could see it reach new highs. Spot Bitcoin ETFs Record Net Inflows BitMEX Research revealed in an X (formerly Twitter) post that the Spot Bitcoin ETFs recorded a combined net inflow of $15.7 million on March 25. This represents a positive turn of events after these funds recorded negative flows throughout last week. The wave of profit-taking by these Bitcoin ETF investors contributed to the BTC dip that occurred during that period. Related Reading: 7 Days Of Crypto: Key Events That You Should Keep An Eye On This Week The crypto community will no doubt keep their eyes on the flows recorded by these Spot Bitcoin ETFs this week as they could give an idea of whether or not the outlook towards BTC has become bullish again. These Bitcoin ETFs now play a prominent role in the Bitcoin ecosystem, considering how much BTC these fund issuers accumulate whenever there is a high demand for them. At the time of writing, Bitcoin is trading at around $70,700, up over 5% in the last 24 hours according to data from CoinMarketCap. BTC price trending north of $70,000 | Source: BTCUSD on Tradingview.com Featured image from BBC, chart from Tradingview.com
Bitcoin whales have been very active in the past few days as the crypto continues to trade below $68,000. Notably, on-chain data has shown a trend of accumulation among Bitcoin whales, with large bouts of the cryptocurrency leaving crypto exchanges into private wallets. These massive transfers appear to have piqued the interest of a few investors who are keeping a watchful eye, as this accumulation pattern points to a price increase up ahead. According to various posts by whale transaction tracker Whale Alerts, Bitcoin whales have recently transferred $2.3 billion worth of BTC in a span of 24 hours, indicating their bullish sentiment. Similarly, crypto analyst Ali Martinez recently revealed that over 25,000 BTC worth approximately $1.60 billion had been transferred into accumulation addresses. Bitcoin Whale Accumulation Signal Price Surge Ahead Bitcoin has largely traded below $69,000 since March 15, struggling to regain the momentum that saw it shooting past $70,000 earlier in the month. Interestingly, Bitcoin fell to as low as $61,766 last week, representing a 16% decline from its all-time high. Related Reading: Dogecoin Whales Go On Massive Buying Spree, Heres How Much Theyve Bought Meanwhile, Spot Bitcoin ETFs saw consistent outflows throughout the week which was spearheaded by Grayscale’s GBTC and weak inflows into BlackRock’s IBIT and Fidelity’s FBTC. This decline became much of a concern for investors as it signaled the bullish sentiment surrounding BTC might finally be coming to an end. However, on-chain data is now telling a different tale of a strong bullish sentiment from Bitcoin whales. Data from Whale Alerts show large amounts of BTC leaving crypto exchanges, one of which was a transfer of 8,136 BTC worth $517 million from Coinbase into a new private wallet. Shortly after, 8,172 BTC worth $519 million were transferred from Coinbase into another new private wallet. Interestingly, the different alerts from the whale tracker added up to $2.3 billion worth of BTC to and from crypto exchanges on March 22. Analyst Ali Martinez noted that these transfers added up to $1.6 billion being added into accumulation addresses, the largest inflow so far this year. Yesterday, over 25,000 #Bitcoin, valued at approximately $1.60 billion, were transferred to accumulation addresses, marking the highest inflow to these $BTC wallets so far this year! pic.twitter.com/mAIHkG9ROC Ali (@ali_charts) March 23, 2024 According to CryptoQuant data, this accumulation trend has seen the Bitcoin reserves on exchanges on a downtrend since March 21. At the time of writing, the Bitcoin exchange reserve is at 1.98 million BTC. Related Reading: Ethereum Sees Notable Rise In Daily Activity, But Why Is Price Down? Basically, whale accumulation tends to swing the balance into bullish among other traders. Fundamentals surrounding Bitcoin like the upcoming halving point to price growth in the near future, making it an ideal time for investors to position themselves in the market. At the time of writing, Bitcoin is trading at $67,478. A key price level to watch is $69,000. If Bitcoin breaks above this resistance level, it could continue surging higher with the accumulation trend. BTC price at $67,000 | Source: BTCUSD on Tradingview.com Featured image from GoBankingRates, chart from Tradingview.com
During Bitcoin 2022, a panel of cryptocurrency investment platform insiders and legal advisors discussed complications in U.S. regulation.
January was the largest month for bitcoin exchange outflows since September 2021.
There are three primary ways to take your Bitcoin participation to the next level: secure your keys, run a node and start mining from home.
Since March 2020, the total balances of bitcoin being kept on exchanges have fallen by nearly 630,000 BTC, roughly a 20% decline.
The total bitcoin on exchanges has hit another three-year low, with 2,408,237 BTC reported.
Bancolombia will soon offer its customers the ability to buy and sell bitcoin through a partnership with Gemini.
2TM, the owner of Mercado Bitcoin, had captured $200 million in July and is now valued at about $2.15 billion.
The cofounder of the U.K.'s longest-running Bitcoin exchange discusses his journey in Bitcoin and the importance of self custody.
KuCoin is a Seychelles-based cryptocurrency exchange that labels itself ‘The People’s Exchange.’ Their goal is to provide an easy and secure way to purchase and trade various cryptocurrencies. They have grown their user base to almost 8 million in only four years, servicing one in every four crypto holders globally. KuCoin is now one of […]
The post Kucoin — The Best Cryptocurrency Exchange Out in the Crypto Market appeared first on NullTX.
Bitcoin exchange FTX bought an ad for the upcoming NFL Super Bowl for an undisclosed amount, said to take advantage of the game’s high viewership.
The U.K.-based exchanges agreed to move Coinfloor customers over to CoinCorner "to further bitcoin adoption."
Australian-based bitcoin exchange Amber is set for its U.S. launch in 44 states via a public beta release.
The investment app has become a regulated Virtual Asset Service Provider, allowing it to provide BTC brokerage services in Europe.
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