Massive Mt. Gox Bitcoin Shift Unlikely To Disrupt Prices, Says CryptoQuant CEO
Recent developments surrounding the repayment of creditors and investors of the defunct Bitcoin (BTC) exchange, Mt. Gox, have sparked concerns about potential effects on Bitcoin’s price. As the market retraced over 20% from its three-month high above $70,000, the movement of 47,000 BTC to repay creditors has raised questions about the market’s stability. However, industry experts, including CryptoQuant CEO Ki Young Ju and Alex Thorn, head of research at Galaxy Digital, have offered insights into this development, suggesting that the impact on BTC’s price may be less....
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A recent analysis from CryptoQuant has revealed that institutional investors have shown a notable level of activity in the Bitcoin market, snapping up a substantial 100,000 BTC over just one week. Particularly, in the past month, these entities with wallets holding 1,000 to 10,000 BTC have shown massive inflow levels that effectively match what was seen during March when US-based exchange-traded fund (ETF) introductions were at their peak. This purchase surge is particularly noteworthy when Bitcoin prices saw a significant dip last week, trading as low as below $54,000 for the first time....
Popular technology and start-up blog TechCrunch announced on Wednesday that they would be accepting bitcoin for admission to their Disrupt event taking place at the Manhattan Center in New York City. Disrupt is a technology conference that focuses on bringing together tech startups - bringing together entrepreneurs, investors, hackers, and technology enthusiasts. The event features panels with well-known entities and even a hackathon. TechCrunch is working with Coinbase to process the transactions, which comes as no surprise, as the San Francisco-based company in the midst of the start-up....
Crypto research firm CryptoQuant has flagged a potentially troubling development for Bitcoin (BTC) and the wider digital asset market, pointing to an early warning signal that has historically appeared ahead of prolonged downturns. In a report released Wednesday, the firm noted that Bitcoin’s supply in loss metric has begun to rise again, a shift that has often marked the early stages of past bear markets. Possible Shift Toward Bear Market Structure According to analysis by CryptoQuant contributor Woominkyu, increases in supply held at a loss tend to signal that market weakness is....
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