Bitcoin briefly dropped below $59K on Wednesday following news that the US government had moved 10,000 BTC to Coinbase Prime.
Bitcoin drops below $59K following US government's $591 million Silk Road BTC transfer On-chain data also shows a trend change in Bitcoin's price correlation to the BTCE fund reserves. Ethereum ETF inflows and low CPI could help ETH stage rally amid Jump Crypto headwind Ethereum is down 1.7% on Wednesday as low Consumer Price Index inflation data and rising ETH ETF inflows hint that a rally may be imminent.
could decline further as long-term holders continue to shed holdings is down nearly 2% on Wednesday following key insights that long-term holders have been consistently booking profits since March. The move appears to be creating a head-and-shoulder pattern on the daily chart for , which can trigger a heavy correction.
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