Long-term Bitcoin holders sold 245,000 BTC as the price fell under $60,000 last week, but a fresh set of US macroeconomic cues and an uptick in BTC dip-buyers may signal that the market has bottomed.
Long-term Bitcoin holders sold 245,000 BTC as the price fell under $60,000 last week, but a fresh set of US macroeconomic cues and an uptick in BTC dip-buyers may signal that the market has bottomed.
Bitcoin saw the first brief period of positive Coinbase Premium since mid-January as BTC price action stabilized near $70,000.
The research analysts pointed to tight liquidity and macro pressure as drivers of the decline, while noting that spot Bitcoin ETFs have seen relatively modest outflows.
Binance bought $300 million in Bitcoin for its SAFU reserve, pushing the fund past $720 million as the exchange shifts its emergency buffer to BTC.
Whale and institutional demand for Bitcoin show signs of a comeback, but downside risks remain as analysts expect BTC price to retest $66,000 support.
Bitcoin’s Sharpe ratio has fallen to -10, nearing bear market lows seen in 2018 and 2022, suggesting the risk/reward profile is approaching extreme levels.
Most quantum-vulnerable Bitcoin sits in wallets holding under 100 Bitcoin, with CoinShares claiming it could take a millennium to compromise each one.
Bitcoin price analysis stayed bearish on the outlook for BTC, predicting new macro lows in a repeat of the 2022 bear market.
Bithumb says it has reclaimed most of the excess BTC credited during a promotional error and used company funds to cover 1,788 Bitcoin that had already been sold.
Santiment said the increased use of “capitulation” among crypto users on social media could suggest the market bottom has already happened.