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The amount of bitcoin as a percentage of circulating supply that hasn't moved in one year is near an all-time high.

Despite the four-month bearish price action, institutions continue to pile drive bitcoin, which might have scared away retail leverage traders. This is because institutions are focusing on longer-term horizons and see the potential for big profits in BTC’s growth over time. The recent large outflow of coins from the U.S.-based crypto exchange Coinbase is evident, according to blockchain analytics firm Glassnode. Related Reading | 82% Of Bitcoin Short-Term Holder Supply Now In Loss, Capitulation Ahead? The recent highly volatile markets have sent bitcoin prices tumbling, with a total of 31,130 bitcoin leaving Coinbase last week. This is the highest single-week outflow since 2017, data tracked by Glassnode. In a weekly newsletter published Monday, Glassnode said;  Large outflows like this one are actually part of a consistent trend in the Coinbase balance, which has been stair-stepping downwards over the last two years. As the largest exchange by BTC balance, and a preferred venue for U.S.-based institutions, this further supports the adoption of bitcoin as a macro asset by larger institutions. The crypto markets have experienced drought over the past week. The Nasdaq-listed exchange’s holding in bitcoin has dropped a four-year low of 649,500 BTC for just the second time since 2018. In addition, the amount of bitcoins held by all centralized exchanges has decreased to 2,519,403 BTC, the lowest number since November 2018. Withdrawal Bitcoins Moved To Inactive Wallets The Coinbase withdrawal may be driving up the price of Bitcoin. The declining exchange balance means fewer coins are available for liquidations on exchanges, which could lead to an increase in demand and push prices higher still – especially since those withdrawals have moved into largely inactive wallets. Additionally, Glassnode said; If we look at the Illiquid Supply Shock Ratio (ISSR), we can see a significant uptick this week. Suggesting that these withdrawn coins have been moved into a wallet with little-to-no history of spending. The ISSR is on an upwards trend, suggesting that these withdrawn coins transferred into a wallet with little-to-no history of spending. Related Reading | Bitcoin Detractor Peter Schiff Lays On What Will Trigger Bitcoin Recovery The current amount of supply held in Illiquid wallets is 3.2x larger than Liquid and Highly-Liquid combined. Meaning that many coins are still trapped there despite the recent bear market conditions. A similar metric to what we saw during the 2018 – 2020’s bear market. Major cryptocurrencies registered mostly small losses on Monday. As the European Parliament’s Committee on Economic and Monetary Affairs voted down a bill. That bill could have outlawed proof-of-work in EU territory. The markets were volatile yesterday as investors waited to hear what the Federal Reserve would do with today’s policy meeting. The NASDAQ100 fell 2%, while SPX500 Index dropped 0.75%. DJ30 closed flat following these declines in stock prices.  The crypto market experienced a mild correction, with Ethereum, BNB, Solana, and XRP losing 2%. Bitcoin also fell slightly 1.6% in value and trading under $40,000 at the time of writing. Featured image from Flickr, chart from Tradingview.com  

Bitcoin accumulation trends have softened in the short term, despite extremely constructive long-term demand trends. The potential energy for a capitulation event is in place, but is yet to manifest as it has in previous market cycles.

Despite an uncertain global economy, geopolitical issues and extreme market volatility, large Bitcoin holders are still not ready to spend their digital assets.

The post Bitcoin (BTC) Price On A Bullish Run To $50,000 By The End Of The Month? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

 The crypto globe is up and rising as the space brings in greener numbers to digital assets. Several digital assets from the industry have portrayed a notable bounce from the bottoms. The star crypto Bitcoin has scripted praise-worthy gains that have instilled faith amongst Bitcoiners and the crypto market in general. Bitcoin taking a heroic …

Over the last weekend, Bitcoin (BTC) has been showing healthy signs of a trend reversal, and well, as of press time, it has moved past its 50-day moving average (DMA). As of press time, Bitcoin is trading 3.05% up at $42,799 with a market cap of $811 billion. This could be the end of the

The post Bitcoin (BTC) Breaches 50 DMA In A Major Trend Reversal, Lightning Network Capacity At ATH appeared first on CoinGape.

Bitcoin, the world’s largest cryptocurrency, continues to trade below $40k, with many suggesting that the crypto-winter is finally here. In fact, some analysts expect crypto-volatility to remain elevated this month. Especially as investors reduce their exposure to assets deemed to be risky. However, some indicators seem to be providing much needed bullish respite to offset […]

Bitcoin enters its 82nd day of the prevailing drawdown, as derivatives traders bet on further downside. Meanwhile, on-chain demand models suggest a more bullish undertone is in play.

برخلاف روند سازنده‌ی که بواسطه تقاضا از طرف دارندگان بلند مدت در بازار به وجود آمده بود‌، در حال حاضر شدت انباشت بیتکوین برای کوتاه‌مدت فروکش کرده است. در‌نتیجه خطر تسلیم بازار در مقابل یک خبر احتمالی منفی، بیشتر حس می‌شود. البته در ابتدا باید مانند سیکل‌های قبلی، علائم چنین اتفاقی دیده شود.