Whales behavior could help BTC regain bullishness provided the UTXO value bands maintain status quo.might have come to an abrupt end after the king coin failed to register significant gains for the first time in the new year.
At press time, BTC was back at the $20,000 region despite calls to breakout farther. However, the price trend is not the only part that has changed in the Bitcoin system.When the market was in its boom era, there was a massive flow of stablecoins in exchanges. This action depicted investors’ resolve to grab a share of the accumulation and profit taking.of $250 million into the Binance USD [BUSD]. As this generated a lot of buzzes, it also impacted the BTC price uptick.
Besides that, Joaowedson confirmed that the BUSD stablecoin flow tides have changed for the past few days as
Source: Digital Coin News (digitalcoinnews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin [BTC]: What you should expect following 2023’s 23% rallyThe recent rally in BTC’s price led to many BTC holders netting unrealized gains. The aSOPR’s attempt to retest the value of 1.0 signaled a bullish trend in the current market. Bitcoin [BTC] started the year with a strong rally of 23.3%, which has resulted in a wide range of investors and miners seeing their […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin exchange supply maintains the drop, but will BTC’s resurgence change its fortuneSupply on centralized exchanges remains depleted despite an increase in Bitcoin network activity. Bulls might need to keep a cool head as 30-day SMA addresses had not finalized surpassing the 365-day SMA. The dishonesty of FTX, accompanied by the havoc experienced in 2022, led many Bitcoin [BTC] holders to switch to self-custody. However, other unaffected […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin Exchange Balance hits 4-year low: How will this impact BTC?Glassnode chart revealed that Bitcoin was experiencing a low exchange balance. The current downtrend might be indicative of a bull trend rather than a bear trend. After the FTX meltdown, Bitcoin [BTC] began a rally that saw its value increase by over 25% and make up for the losses. The rest of the cryptocurrency market […] 'Not your keys, not your coins.' ---- This campaign has been ongoing for years. It is only now just registering with most, in light of recent events. Low balances mean that a lot of people are self-custodying their corns, keeping from being part of another future FTX snafu. 🤔
Source: CryptoAmb - 🏆 22. / 68 Read more »
Bitcoin [BTC] investors embrace risk-on approach, but beware of hidden risksBitcoin investor appetite has resumed, according to multiple indicators. However, there is still a risk for BTC’s downside. As per a CryptoQuant analysis on 19 January, multiple signals were determining the start of Bitcoin’s [BTC] next bull run at press time. One of the biggest observations was that BTC’s holders shifted their coins from the […]
Source: CryptoAmb - 🏆 22. / 68 Read more »
National Australia Bank to launch AUDN, an Australian dollar-pegged stablecoinNational Australia Bank (NAB), one of Australia’s “Big 4” banks, is preparing to launch an Australian dollar-pegged stablecoin on the Ethereum network in mid-2023.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Bitcoin’s Open Interest and demand level is key to short-term posture: Here’s whyLong and short Bitcoin positions have not been exceptionally significant, although funding rate remained positive. While the Bitcoin fear and greed index hit highs in months, the king coin will need increased demand to sustain the rally. The performance of Bitcoin [BTC] since the start of 2023 has brought confidence back into the crypto market. […]
Source: CryptoAmb - 🏆 22. / 68 Read more »