2024

Bitcoin

when

Arkham

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/key-movements-in-bitcoin-landscape-as-halving-approaches/" data-wpel-link="internal">Key Movements in Bitcoin Landscape as Halving Approaches</a> 
<a href="https://en.coin-turk.com/renowned-security-researcher-and-developer-antoine-riard-announces-departure-from-lightning-network/" data-wpel-link="internal">Bitcoin</a> (BTC) is undergoing notable movements characterized by both accumulation and sales as the anticipated 2024 halving event, expected to occur around April, approaches. 
<h2 id="btc-transfers">BTC Transfers</h2> 
Recent data from Arkham Intelligence reveals significant activity by Grayscale in the last 19 hours. Grayscale is actively depositing multiple Bitcoin batches into Coinbase, which could indicate a continued sales strategy. The total deposit transactions during the specified period amounted to 3.625.097 Bitcoin, which was around $156.1 million at a price range of $43,000 when the article was written. 
While Grayscale is engaged in selling, MicroStrategy focuses on accumulation. Lookonchain reports that MicroStrategy purchased a total of 850 BTC between December 27 and February 5. The latest accumulation brings MicroStrategy’s total Bitcoin holdings to 190,000, with a market value of approximately $815 million. Additionally, MicroStrategy has made a profit of about $2 billion from its strategic accumulation at current prices. The analysis of Bitcoin’s whale trend shows a significant response to the accumulation model rather than selling. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-312404 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/02/btc-1.webp" alt="" width="2048" height="1290"> 
<h2 id="report-from-glassnode">Report from Glassnode</h2> 
Glassnode’s analyses indicate a significant increase in the number of whales. At the time of writing, there are approximately 1,578 whales with balances over 1,000 BTC. This figure marks the first time in about ten months that such a significant number of whales have been observed. Moreover, the relative strength index (RSI) remained above the neutral line. Experts also note an increasing trend of trust and accumulation among whales, which could reflect a sentiment of confidence in the Bitcoin market rather than panic. 
CryptoQuant‘s data suggests that more than 7,000 Bitcoins were deposited into exchanges between February 5 and 6. This positive net flow could indicate that more BTC was added to exchanges for potential sales compared to the amount withdrawn during that period. Expectations of a bull run continue, and the upcoming halving is anticipated to contribute to the potential rise in the market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/key-movements-in-bitcoin-landscape-as-halving-approaches/" data-wpel-link="internal">Key Movements in Bitcoin Landscape as Halving Approaches</a></h5>

Key Movements in Bitcoin Landscape as Halving Approaches

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