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

Singaporean Blockchain Wallet Security Company Discovers New Type of Scam Targeting Centralized E...

Australia’s Big Banks Block Crypto Payments Amid Rising Crypto Popularity

Dogecoin Whale Admits To Not Making Enough Gains With DOGE Hence The Switch To Mpeppe (MPEPE)

How the Bank of Japan wrecked the yen carry trade — and crypto markets

Solana slumps: Expert claims whale tricks behind the drop

Is the Crypto Crash Over? Market Recovers with Impressive $2 Trillion Cap

Join our free newsletter for daily crypto updates!