Bitcoin ETF

Bitcoin

In the last two weeks, the crypto industry has been consolidating amid the potential approval of a spot Bitcoin ETF. However, the current state of the cryptocurrency industry appears bearish as the price of Bitcoin has dropped by 2.3%, equivalent to $1,000. F2 Pool’s Bitcoin deposits and market impact 
Recently, Lookonchain, an on-chain analytics firm, posted on X (previously Twitter) that it observed F2 pool depositing over 1,000 BTC, worth around $44 million, to the largest cryptocurrency exchange, Binance, during the period of the massive Bitcoin price drop. Additionally, it was noted that on January 6, 2024, F2 pool deposited the same quantity of Bitcoin to Binance, possibly contributing to the significant fall in the price of Bitcoin.
Why did the price of
According to Lookonchain, during this consolidation period, Bitcoin whales are consistently accumulating Bitcoin. As the crypto community eagerly awaits the spot Bitcoin ETF, whales view this consolidation as an opportunity and are accumulating Bitcoin. Notably, one such whale accumulated 1,750 Bitcoin, worth around $76.9 million, in the last two days with an average price of $43,953 from the largest cryptocurrency exchange, Binance, as per data shared on X by Lookonchain. Strategic accumulation by Bitcoin whale 
The same whale also took advantage and heavily accumulated 6,000 Bitcoin, worth around $158.66 million, with an average price of $26,444 during the period when asset management firms were queuing for the application of the Bitcoin ETF from August 25, 2023, to September 2, 2023.
A smart whale has accumulated 1,750
This heavy accumulation of Bitcoin is not limited to a single crypto whale; <a href="https://news.todayq.com/microstrategy-sets-new-bet-on-bitcoin-as-michael-saylor-plans-to-sell-216m-on-mstr-shares/" rel="noopener noreferrer nofollow">several whales have taken advantage of the spot price of Bitcoin</a> and accumulated. Bitcoin on Binance with an average price of $35,241, making a profit of around $26.4 million.
Additionally, this whale consistently seizes opportunities and accumulates 1,000 BTC, worth around $41.46 million, on December 4, 2023. As of writing, thesame whale holds a significant over 4,750 Bitcoin, worth around $207 million. 
Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com

Bitcoin Price is down, this might be the reason

Todayq News

Other articles published on Jan 8, 2024

Bitcoin Price In The Limelight, Gearing Up For $50k Ahead of Spot BTC ETF Approval?

Solana meme tokens collapse after December pump

Meme Coin Revolution: Bonk, Coq Inu, and Rebel Satoshi ($RBLZ) Take the Lead

Bitcoin Investors Face Losses Amid Market Turbulence

In 10 days, Globacom users may not be able to make calls to MTN over unpaid debts

Find Satoshi Lab’s Web3 Social Strategy Game Gas Hero Tops NFT Sales

Join our free newsletter for daily crypto updates!