Bitcoin ETF

Bitcoin

Spot

<p class="is-style-lead">Long-term investors increased their Bitcoin sales as the price of the first cryptocurrency approached an all-time high.</p>
<p>Glassnode analysts note that long-term investors’ monthly sales rate has increased to 257,000 Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>). Of this amount, 57% comes from <a href="https://crypto.news/tag/Grayscale/" target="_blank" rel="noopener noreferrer nofollow">Grayscale</a>‘s GBTC. In total, sales rates for the week increased by 20%, for the month and quarter by 44% and 55%, respectively. The rally was the most powerful since the 2021 bull market.</p>
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   <p lang="en" dir="ltr">As <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> reached its ATH, a careful assessment reveals a nuanced interplay between exchange and ETF flows indicating market balance, alongside the start of the classic distribution pattern by long-term holders.<br><br>Watch the latest Week On-Chain👇 <a href="https://t.co/yDRjUiPd99" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/yDRjUiPd99</a></p>— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1765344170263064845?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 6, 2024</a>
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<p>Experts also examined the structure of capital flows to centralized platforms (<a href="https://crypto.news/tag/CEX/" rel="noopener noreferrer nofollow">CEX</a>) and noticed that the average BTC transaction size on Coinbase had jumped to 4.3 BTC at the time of spot Bitcoin <a href="https://crypto.news/tag/etf/" target="_blank" rel="noopener noreferrer nofollow">ETF</a> approvals. For comparison, the historical range since 2019 has been 0.2 BTC to 1 BTC.</p>
<p>As Bitcoin <a href="https://crypto.news/bitcoin-69000-all-time-high-2024/" target="_blank" rel="noopener noreferrer nofollow">rose</a> to an all-time high (ATH), holders’ unrealized gains reached 228%. The cost of purchasing BTC for long-term investors is $20,700, while for short-term investors, it is $45,800. Analysts explained that this group historically increases spending as new ATHs are reached, with distribution accelerating until they help form a cycle top.</p>
<p>You might also like: <a href="https://crypto.news/bitcoin-liquidate-69000-2024/" rel="noopener noreferrer nofollow"> Bitcoin traders liquidate $142m an hour after hitting $69k </a></p>
<p>IntoTheBlock experts also note that during the ATH update, all Bitcoin holders were in the profit zone, and no wallets made a loss or were in the break-even zone. Bitcoin’s rise was accompanied by high <a href="https://crypto.news/tag/whales/" target="_blank" rel="noopener noreferrer nofollow">whale</a> activity. Over the past seven days, the volume of transactions on the blockchain in amounts of $100,000 or more has reached $174.2 billion.</p>
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   <p lang="en" dir="ltr">100% of all Bitcoin addresses are currently in profit! <a href="https://t.co/xrWHXHFnIZ" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/xrWHXHFnIZ</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1765013797456970075?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 5, 2024</a>
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<p>Demand for Bitcoin and its sharp price rise are mainly due to&nbsp;significant capital inflows into U.S. spot Bitcoin ETFs launched in January. Another growth factor is the halving, which is expected in April.</p>
<p>You might also like: <a href="https://crypto.news/spot-bitcoin-etfs-start-the-week-strong-attracting-562-million-in-inflows/" rel="noopener noreferrer nofollow"> Spot Bitcoin ETFs start the week strong, attracting $562 million in inflows </a></p>

Bitcoin selling intensifies as BTC reaches new all-time high

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