Despite Deep Plunge, Bitcoin Exchange Reserves Keep Dwindling
After a record weekend liquidation, Bitcoin price bounced back above $57,000 – gaining back approximately $3,000. At 14:21 GMT on Monday, the price of the coin was trading at $56,367, at a gain of 2.32% in the last 24 hours. The Sunday fall saw about $9.79 billion bleed out of long positions getting “rekt,” making […]
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Interesting things are going on over in China, as the country’s cash reserves are dwindling at an alarming pace. A recent report by the Chinese central bank indicated how there is only US$3.4 bn left in foreign exchange reserves, which is the lowest levels since the beginning of 2013. Getting funds out of the country is proving to be a difficult task, and Bitcoin seems to be the solution investors could be looking for. Even Chinese investors are looking for opportunities on an international scale, such as buying pricey art, real estate in the Western world, or even bonds in other....
Amid anticipating the major post-Havling rally, Bitcoin (BTC) exchange reserves have hit an unprecedented low, falling below $2 million. This trend is particularly noteworthy as it signals an impending price for BTC. Thomas Fahrer, co-founder of Apollo, echoed this in his recent post on the social media platform X, noting that the dwindling BTC exchange […]
Bitcoin exchange reserves are continuously plummeting as analysts pinpoint the trend to a potential shortage of sellers. Bitcoin (BTC) exchange reserves are continuously plummeting as analysts pinpoint the trend to a shortage of sellers. Since the March crash, the reserves on exchanges rapidly fell from 2,950,000 BTC to 2,700,000 BTC.Within merely seven months, a 250,000 BTC fall in exchange reserves signifies a $2.85 billion decline. Behind the steep trend could be two major factors: a decline in sellers and lower trust toward exchanges.Bitcoin reserves on exchanges. Source: GlassnodeIs....
Data shows Bitcoin and Ethereum exchange reserves continue their downtrend as the supply shock tightens its grip. Bitcoin And Ethereum Exchange Reserves Trend Downwards As pointed out by a crypto trader in a tweet, both Bitcoin and Ethereum continue to experience a decline in their exchange reserves. The exchange reserve of an asset is an […]
Amid Bitcoin (BTC) continuous struggle for a major rally to new heights, miners powering the Bitcoin network are experiencing significant economic shifts. Particularly, recent data shows a stark reduction in Bitcoin reserves held by miners, signaling potential shifts in market stance or miner strategies. Related Reading: $0 Flows: BlackRock Unshaken Despite Recent Bitcoin Market Crash, Data Shows Bitcoin Miner Reserves: A Plunge To 3-Year Low Following the latest Bitcoin Halving—an event that reduced the block rewards miners earn for their computational efforts—which occurred back in....