Strong

Bitcoin

Arkham

BlackRock

Coin

<ul class="wp-block-list news-points>

<li>Bitcoin’s price drops, but institutional investors hold firm.</li>


<li>Major institutions like BlackRock and Fidelity maintain their Bitcoin holdings.</li>


<li>Oversold conditions may suggest potential for a Bitcoin price rebound.</li>

</ul>



Despite a recent Bitcoin price drop, major investment firms like <a href=" https: coinedition.com solana-dips-7-5-after-blackrock-rules-out-immediate-etf-launch ">
 BlackRock and Fidelity have opted to retain their Bitcoin assets. According to data from Arkham, these firms, along with MicroStrategy and Grayscale, have not liquidated their holdings despite the market volatility.
 
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 You guys sold all your coins … But BlackRock MicroStrategy Grayscale Fidelity didn’t. <a href="https://t.co/R2NY3rDPcQ" target="_blank" rel="nofollow">pic.twitter.com/R2NY3rDPcQ</a>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1820467463341080624?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 5, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
 </figure> 
 Currently, Bitcoin is priced at <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="nofollow">$54,262.48</a>, with a 24-hour trading volume of $103 billion. Over the past day, Bitcoin has declined by 8.49%, with a market capitalization of $1.07 trillion. The circulating supply stands at 19,735,965 BTC out of a total maximum supply of 21,000,000 BTC. 
 Following the recent dip to $50,000, InnovatekMobile reports a substantial plunge in the percentage of Bitcoin holders in profit. The last time such a percentage level was observed was in January when Bitcoin’s value bottomed out around $39…
 The post <a href="https://coinedition.com/bitcoin-price-drops-but-institutions-hold-strong/">Bitcoin Price Drops, But Institutions Hold Strong</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>. 
</ul>

Bitcoin Price Drops, But Institutions Hold Strong

Coin Edition

Other articles published on Aug 6, 2024

Binance Labs Announces Second Cohort of Season 7 Incubation Program: Aarc, FluxLayer, and Ton Ton...

JITO Foundation Releases Code for Jito Restaking on Solana

XRP in Crisis: Between Selling Pressure and Cryptocurrency Market Volatility

Hedge Fund Besar di Eropa Taruh US$500 Juta di ETF Bitcoin

Trump Loves Bitcoin (TRUMPBTC) Solana Memecoin Will Explode Over 15,000% Before Exchange Listings...

Ripple Wins Legal Battle and Boosts XRP Demand

Join our free newsletter for daily crypto updates!