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<p class="has-drop-cap">Bitcoin’s (BTC) market movements are making headlines as the cryptocurrency continues to display significant volatility. <br><br>Recent data shows that Bitcoin’s price has hovered around $101,048.46, marking a slight decline of 0.14% from its previous close. Despite the minor drop, Bitcoin’s current market cap stands at an impressive $2 trillion, underscoring its robust market presence. <br><br>Meanwhile, the crypto space is abuzz with news of Bitcoin leaving exchanges in substantial quantities and the Vancouver City Council’s recent pro-Bitcoin motion.</p> 
<h3 id="bitcoin-holds-above-100-000">Bitcoin Holds Above $100,000</h3> 
<p>Bitcoin’s price action has been a focal point, with its value recently peaking at $101,953.03 and dipping to a low of $100,194.33. The cryptocurrency’s year-to-date performance has been remarkable, with a year-high of $103,900.47 set against a year-low of $38,521.90. This upward trajectory has sparked discussions among analysts and investors about Bitcoin’s liquidity and the potential for further price surges. <br><br>The average trading volume for Bitcoin remains robust, with a daily volume of over $106 billion, indicating sustained investor interest.</p> 
<p>A notable trend in the market is the withdrawal of Bitcoin from exchanges in large batches, a phenomenon highlighted by analyst Van Straten. These movements are typically interpreted as bullish signals, suggesting that investors opt for long-term holding rather than trading. Given the reduced selling pressure on exchanges, such trends are often seen as precursors to price spikes.</p> 
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<h3 id="meanwhile-in-the-cryptoverse">Meanwhile, in the Cryptoverse…</h3> 
<p>In regulatory and policy news, Vancouver has taken a significant step by passing a motion to position itself as a “Bitcoin-friendly city,” citing challenges with fiat currencies. This move aligns with a growing global trend of cities and countries exploring digital currencies as a strategic financial tool. <br><br>The council’s decision was met with mixed reactions, reflecting ongoing debates about the environmental impact of Bitcoin mining and the potential for illicit activities.</p> 
<p>On the institutional front, there is a buzz around Hut 8 Mining (NASDAQ: HUT), which saw a 12% pre-market rise amid rumors of a partnership with Meta (NADSAQ: META). Meanwhile, Bitcoin ETF advertisements have been spotted on <a aria-label=" (opens in a new tab)" href="https://cryptorank.io/news/feed/1f334-tech-company-with-indirect-exposure-to-bitcoin-launches-bitcoin-etf-ads-in-china" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">China’s Alipay app</a>, signaling a growing acceptance of crypto investments in traditional financial circles.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
<h3 id="br"><br></h3> 
<p>The post <a rel="nofollow" href="https://tokenist.com/btc-report-vancouver-embraces-bitcoin-with-new-motion-amid-2t-market-cap/">BTC Report: Vancouver Embraces Bitcoin with New Motion Amid $2T Market Cap</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

BTC Report: Vancouver Embraces Bitcoin with New Motion Amid $2T Market Cap

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