780,000 BTC at risk if this happens to Bitcoin price $BTC
It notes that U.S. entities are now holding 11% less BTC than they were in June 2022, while investors active during Asian trading hours have picked up 9.9%. It adds that this remains a distinct reversal from the 2020-2021 bull cycle.
There are also major shifts underway in stablecoins, as noted, with the USDT supply at new ATHs, while USDC and BUSD fall to multi-year lows. Glassnode says this might suggest that U.S. capital is now less active in digital assets. The on-chain analytics firm observed considerably weaker demand since April, considering exchange on-chain flows. This is because stablecoin inflows massively offset BTC and ETH inflows in Q1.
However, a trend of larger BTC and ETH inflows relative to stablecoins is now seen as the market corrects lower. Glassnode concludes by saying that several undercurrents are in play, suggesting a net capital rotation and the migration of liquidity toward lower-risk digital assets.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin (BTC) Prints Super-Rare Golden Cross, Analysts Hint at Upcoming RallyBitcoin $BTC price prints this pattern for the first time in history, CryptoJelleNL foresees rally incoming Bitcoin
Read more »
‘$31K was not the end’ — 5 things to know in Bitcoin this weekBitcoin begins the new week calm, but traders are eyeing a return to BTC price volatility.
Read more »
Bitcoin Price Tumbles Below $27K, The Sandbox (SAND) Soars 6% Daily (Market Watch)SAND is among the few exceptions in the green today.
Read more »
Bitcoin price will get 'another test' of 200-week trend line — analystBitcoin risks setting a new macro bottom if the BTC price 200-week trend line fails, warns analyst.
Read more »
Coinbase Expands Futures Offering, Unveils 'Institutional-Sized' Bitcoin and Ether Contracts – Bitcoin NewsCoinbase has opted to introduce 'institutional-sized' bitcoin and ether futures contracts through its regulated Coinbase Derivatives Exchange.
Read more »
'Talk2Satoshi' — Developer Launches Unique AI Chatbot Infused With Bitcoin Knowledge – Bitcoin NewsThe chatbot sets itself apart by being trained on resources specifically focused on Bitcoin and its enigmatic founder, Satoshi Nakamoto.
Read more »