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Search results for Dec. 22

Crypto

CryptoQuant founder says bitcoin avoided fall into $20,000 range thanks to Strategy and ETFs

Ju Ki-young (주기영), head of CryptoQuant, said bitcoin could still be trading around $22,000 without buying by Strategy and spot bitcoin exchange-traded funds. He said they absorbed 1.24 million BTC sold by long-term holders over the past two years, though another user said the figure was 2.74 million BTC. U.S. spot bitcoin ETFs posted 13 straight sessions of net outflows through June 3, while institutional holdings fell 17 percent from the prior quarter.

Crypto

Bitcoin spot demand and ETF flows weaken, raising prospect of prolonged sideways move

Bitcoin demand is weakening quickly, increasing the likelihood of a prolonged sideways move or additional declines below $80,000. Cointelegraph reported that spot demand and exchange-traded fund flows slowed after the price met resistance above $80,000. Indicators from Caprioli Investment and on-chain data firms pointed to reduced buying strength and softer spot market conditions. ETF holdings also weakened, with flows turning to net selling. Analysts said a sustained recovery requires demand and accumulation above key support around $78,300.

Crypto

BitMine buys an additional 71,524 ether, now holds 4.04 percent of total supply

NYSE-listed BitMine Immersion Technologies bought an additional 71,524 ether last week, CoinPost reported on April 14. The purchase was worth 25.7 billion yen, or about 239.5 billion won, the report said. The company’s ether holdings rose to 4,874,858 tokens, valued at $10.9 billion at $2,252 per token, or 4.04 percent of total supply. Total holdings including crypto, cash and other investments rose to $11.8 billion.