Bitcoin reserves on exchanges plummet to record lows, signaling potential supply shock. Investors withdrawing BTC from exchanges for holding, not selling. Prices near $70,000. Supply shock, fueled by decreasing exchange reserves and halving, could spur significant price surge.
Xu LinSpot bitcoin ETFs attract $4 billion inflows, causing substantial outflows from higher-cost crypto funds. Grayscale's GBTC leads the outflows, while fee differentials contribute to the migration towards new ETFs. Despite minor outflows in the market, trading volume surges, emphasizing the current dominance of exchange-traded product activity. The regional shift towards the U.S. is notable, with blockchain equities outperforming altcoin products.
BerniceBlackRock's swift Bitcoin accumulation raises concerns of a supply squeeze, potentially propelling Bitcoin's value to new heights. The intricate dance between institutional power and decentralized assets unfolds as the crypto market faces unprecedented dynamics.
Cheng YuanBlackRock's substantial Bitcoin acquisitions, totaling 11,500 BTC in two days, have raised concerns of a supply crunch. Despite worries, a bullish outlook prevails, with InvestAnswers suggesting a potential boost to Bitcoin's market to new heights. Institutional OTC trading is cited as a strategy to mitigate market volatility.
BerniceApproximately 57% of Bitcoin remains dormant for over two years, held by Long-Term Holders (LTHs) setting consecutive highs. This resilient group showcases strong conviction, potentially influencing Bitcoin's supply dynamics. The recent approval of Bitcoin spot ETFs by the US SEC and a decline in BTC stored on exchanges further suggest a supply squeeze. Bitcoin is trading around $45,900, reflecting a 4% increase in the past week. Traders monitor these trends for potential impacts on Bitcoin's price movements.
EdmundIrys plans to fork Arweave, resetting token supply, a move criticized by Arweave's founder as short-sighted and greedy.
BerniceNet exchange outflows have slowed to $641 million in BTC.
BeincryptoThe Mango Markets exploiter is back—but this time, things might not be going as planned.
Crypto BriefingOn-chain data shows Bitcoin funding rates have sunk into deep negative values, something that could pave way for a short ...
BitcoinistThe opening of the trading week had seen bitcoin surge again and had touched as high as $32,000, albeit briefly. ...
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