Bitcoin price dips below $34K as day of Grayscale's giant BTC unlocking draws...
Downward volatility hits the market on Sunday, as market participants argue that most of the drop is already complete. Bitcoin (BTC) dropped to local lows of $33,750 on June 20 as fears over weak support levels proved to be well founded. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed BTC/USD swiftly dropping below $34,000 on Sunday after choppy behavior at the start of the weekend.A comedown from resistance at near $40,000 continued to unfold, with low volumes highlighting little interest in protecting price action much....
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New research questions the gravity of the upcoming unlocking events at the Grayscale Bitcoin Trust, pointing to bigger potential price threats later in 2021. Bitcoin (BTC) will not move much after Grayscale's giant 16,000 BTC unlocking date after all, says crypto trading firm QCP Capital. In its latest market update released on July 8, analysts downplayed the popular theory that GBTC will cause BTC price volatility in the coming weeks.No "significant impact" expected from GBTCAs Cointelegraph reported, the Grayscale Bitcoin Trust (GBTC) is due to release, or "unlock," a large amount of BTC....
Bitcoin is just a “couple of points of maturation” away from getting an approved ETF in the U.S., says Grayscale CEO. The head of crypto investment giant Grayscale believes that only a “couple of maturation points” separate the United States from its first Bitcoin (BTC) exchange-traded fund (ETF).Speaking to CNBC on July 19, Michael Sonnenshein reiterated that a U.S. ETF is a matter of “not ‘if,’ but ‘when.’”Sonnenshein: “If, not when” for U.S. Bitcoin ETF Regulators currently have 13 ETF applications under consideration, and the U.S. lags behind neighboring Canada when it comes to giving....
The biggest single unlocking day will flush sellers from the market in July, opening up both volatility and bullish potential. Institutional Bitcoin (BTC) investors are in the spotlight as an upcoming major cashout date sparks talk of fresh price volatility.As noted by popular Twitter commentator Loomdart and others this week, attention is focusing on buyers and sellers of the Grayscale Bitcoin Trust (GBTC) as Bitcoin hovers near $40,000.July means BTC price volatilityA giant in the institutional Bitcoin space, GBTC has over $24 billion in assets under management. It is not available....
A release of funds from lock-up traditionally heralds the start of price upside and ends consolidatory phases, data shows. Bitcoin (BTC) may have traded sideways for much of last month thanks to Grayscale, but the status quo will soon change.According to data from on-chain analytics resource CryptoQuant, the price premium of the Grayscale Bitcoin Trust (GBTC) just hit its lowest since April 2019.Grayscale lock-up ends WednesdayGrayscale has made the headlines frequently this year thanks to record BTC purchases and record demand, but despite the inflows, BTC/USD has not continued to gain.As....
If Bitcoin price remains in the current range, ADA, THETA, XMR and AMP could bounce higher over the coming days. The U.S. Federal Reserve’s plans to advance its timeline for rate hikes to 2023 has led to profit-booking in the U.S. stock market, gold, and Bitcoin (BTC). The markets received a second jolt on June 18 after James Bullard, the president of the United States Federal Reserve Bank of St. Louis, warned th the first rate hike could come as soon as 2022.Now crypto analysts are divided on the next move from Bitcoin. Josh Rager believes Bitcoin may have hit its cycle top at $64,500 and....