Bitcoin ETF

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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/genesis-pursues-1-6-billion-asset-sale-as-crypto-trade-volumes-soar" rel="noopener noreferrer nofollow">Genesis Pursues $1.6 Billion Asset Sale as Crypto Trade Volumes Soar</a><br></p>
<p style="text-align: justify">Genesis is actively seeking judicial consent to offload crypto assets and derivatives valued at approximately $1.6 billion. This move comes at a time when <a href="https://en.bitcoinhaber.net/bitcoin-and-the-dollar-index-dxy-a-fierce-struggle-what-will-happen-to-btc-price" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) is battling to retain its value of $42,800, with the risk of breaking below a critical support level. Concurrently, trading volumes have surged past a one-year record, despite the total daily trading sum dipping under $30 billion.</p>
<h2 id="crypto-exchanges-witness-surge-in-activity">Crypto Exchanges Witness Surge in Activity</h2>
<p style="text-align: justify">Over the past month, centralized digital currency exchanges, particularly Binance and Coinbase, have experienced significant trading activity. This rush has propelled BTC to its two-year peak of $49,000, driven by the buzz around the possible introduction of a Spot Bitcoin ETF.</p>
<p style="text-align: justify">Analytics firm CryptoRank highlights a 10% uptick in January trade volumes since December 2023, marking a year-long zenith. Binance alone contributed half of the aggregate monthly volume hitting $800 billion.</p>
<h2 id="robust-volume-growth-across-multiple-platforms">Robust Volume Growth Across Multiple Platforms</h2>
<p style="text-align: justify">Besides Binance, other platforms like Upbit, Cryptocom, and Huobi observed volume expansions of 44.6%, 28.4%, and 23.8%, respectively, in January. Bybit, Kraken, and OKX also saw increases, while KuCoin posted the smallest growth at 3.3%.</p>
<p style="text-align: justify">However, Gate.io experienced a 34% drop in spot trading volume, contrasting with the overall positive trends since October 2023. The anticipation of a spot Bitcoin ETF approval has been fueled by successes such as the GBTC case and BlackRock’s crypto engagement.</p>
<p style="text-align: justify">Expert Al Bert anticipates an improving macroeconomic environment, with potential interest rate reductions by the Fed and other central banks, which could positively impact the crypto markets.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/genesis-pursues-1-6-billion-asset-sale-as-crypto-trade-volumes-soar" rel="noopener noreferrer nofollow">Genesis Pursues $1.6 Billion Asset Sale as Crypto Trade Volumes Soar</a></h5>

Genesis Pursues $1.6 Billion Asset Sale as Crypto Trade Volumes Soar

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