Bitcoin

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In a recent development, FomoChain, a cryptocurrency analysis company, reported a significant event that caused volatility in the Bitcoin market. 
According to the analysis company's statement, a mysterious whale sent 11,739 BTC worth $490.45 million to the cryptocurrency exchange Coinbase. Following the transfer, the BTC price immediately dropped by 1.22%. Although transfers to cryptocurrency exchanges often mean sales, it is not known what transactions this whale made. 
BTC, which was around $42,200 before the decline, dropped to $41,375 with the decline. 
<img decoding="async" class="alignnone size-full wp-image-132439" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/01/BTCUSD_2024-01-18_21-33-40.png" alt="" width="1342" height="792"> 
Related News: <a href="https://en.bitcoinsistemi.com/blackrock-senior-executive-speaks-about-bitcoin-and-spot-etf/" target="_blank" rel="dofollow">BlackRock Senior Executive Speaks About Bitcoin and Spot ETF</a> 
The whale wallet in question was a fresh account created recently. Before the transfer, he had been buying BTC continuously for the last two days. 
Recently, BTC price has been in a downward trend despite the spot ETF approvals last week. The main reason for this decline is thought to be Grayscale's GBTC product, which again turned into a spot ETF. Investors who previously purchased this product, which operated as a trust, sell their shares after the approval of the spot ETF. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/sudden-decline-in-bitcoin-price-heres-the-reason-for-the-drop/">Sudden Decline in Bitcoin Price – Here’s the Reason for the Drop</a>

Sudden Decline in Bitcoin Price – Here’s the Reason for the Drop

Bitcoin Sistemi EN

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