In the third week of January, Bitcoin (BTC) demonstrated a modest 3% price recovery, following increased selling pressure exerted by asset manager Grayscale since January 12. Interestingly, there are indications that this selling pressure is now diminishing, pointing towards a potential restart of the bullish trend that Bitcoin has been experiencing since October 2023. Grayscale’s…
Bitcoin, the largest cryptocurrency in the market, experienced a price recovery on Friday; however, industry experts anticipate a further test of sub-$30,000 levels in the near term. The prolonged downtrend observed over the past fourteen days, coupled with mounting selling pressure, has raised concerns about the sustainability of the recent rebound. BTC’s Local Bottom Predicted…
Since mid-January Bitcoin (BTC) has been facing mounting selling pressure from various market players. This includes asset manager Grayscale, bankrupt crypto exchange FTX, and now, the US government, which is set to auction off a substantial amount of Bitcoin seized from the infamous dark web marketplace Silk Road. Sale Of Confiscated Silk Road Bitcoin The…
Since the approval of Bitcoin ETF applications by the US Securities and Exchange Commission (SEC) on January 11, followed by the commencement of trading a day later, the ETF race has witnessed impressive trading volumes on each trading day. As the market recovers from a sharp correction, recent developments indicate a notable slowdown in Grayscale…
The Bitcoin price has experienced a notable shift as selling pressure mounts, with BTC bears gaining the upper hand. Asset manager Grayscale, the owner and manager of the Grayscale Bitcoin Trust (GBTC), is a significant contributor to this trend. Since the trading of spot Bitcoin exchange-traded funds (ETFs) began on January 12, Grayscale has been…
In the past month, the Bitcoin price has experienced a significant decline after reaching a 22-month high of $49,000. Currently, the largest cryptocurrency has fallen below the crucial $40,000 mark, raising concerns about the prospects of the ongoing bull run and the overall bullish market structure. However, there are indications that the bottom of the…
In a surprising turn of events, the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs) has not yielded the anticipated immediate upside impact on the Bitcoin price. Contrary to expectations within the crypto community, BTC has experienced a sharp drop of over 16% since the ETF approval on Wednesday, January 11, dipping below the key…
Bitcoin (BTC), the largest cryptocurrency in the market, has encountered a significant downturn following the waning hype around exchange-traded funds (ETFs), resulting in a 9% decline over the past fourteen days. However, Glassnode co-founders remain optimistic, asserting that the recent price corrections align with historical patterns and could propel Bitcoin to new heights, nearly doubling…
Bitcoin (BTC), the largest cryptocurrency in the market, has experienced a sharp drop below the $41,000 mark as exchange-traded funds (ETFs) for Bitcoin went live on January 12. The subsequent profit-taking, selling pressure, and outflows from Grayscale’s Bitcoin Trust ETF (GBTC) played a significant role in the downward trend. Grayscale’s Bitcoin Transfers To Coinbase Intensify…
In a significant development that could potentially impact the Bitcoin price, Arkham Intelligence data reveals that Grayscale, the manager and owner of the Grayscale Bitcoin Trust (GBTC), has been sending a significant amount of Bitcoin to Coinbase since the launch of Bitcoin spot exchange-traded funds (ETFs) on January 12. Grayscale Bitcoin Trust Initiates Substantial BTC…