Bitcoin ETF

Bitcoin

April

On April 4, 2024, the overall market is quite unpredictable as it shows both bearish and bullish sentiments simultaneously. Despite the confusing market sentiment recently, asset management giant Grayscale offloaded a massive 1,252 Bitcoin worth around $84.5 million, while at the same time, another asset management firm, Fidelity, added a massive 1,771 Bitcoin worth around $119.5 million to its holdings according to the data fromLookonchain an on-chain analytic firm. Grayscale offloads massive Bitcoin&nbsp; 
However, despite Fidelity’s massive <a href="https://news.todayq.com/bitcoin-whales-gear-up-for-halving-event-adds-1-4-billion-of-btc/" rel="noopener noreferrer nofollow">Bitcoin purchase</a>, the 9 other spot Bitcoin ETF providers, including Grayscale, added 1,991 Bitcoin worth around $134.3 million.
Besides this massive offload of Bitcoin, Grayscale remains at the top position in terms of Bitcoin holdings, currently holding over 328K Bitcoin worth over $22.1 billion. Asset management giant BlackRock ranks 2nd as it holds over 257K Bitcoin, and Fidelity maintains the 3rd position with over 147K Bitcoin.
However, this is not the first time that Grayscale has offloaded a huge amount of Bitcoin. Earlier, on April 3, 2024, Grayscale offloaded a massive 4,354 Bitcoin worth over $287 million. Bitcoin price-performance analysis&nbsp; 
With all these actions toward Bitcoin, it is currently trading near the $68,000 level, and in the last 24 hours, it experienced over a 2.5% upside momentum. Additionally, during the same period, Bitcoin reached a low of $66,270 and a high of $68,000. Looking at Bitcoin’s performance over a longer period, in the last 7 days, Bitcoin experienced over a 4% downside momentum, whereas, in the last 30 days, it experienced a decent 2% upside momentum.
According to expert technical analysis, Bitcoin on a weekly timeframe is still bullish. This is because, on the weekly timeframe, Bitcoin closed with a weekly candle above $71,000 for the first time in history. Meanwhile, the price fall in Bitcoin might be attributed to profit booking or price correction ahead of Bitcoin halving.

BTC soars 3%, despite Grayscale’s $85mln Bitcoin sell-off

Todayq News

Other articles published on Apr 4, 2024

Arbitrum (ARB) Dwindling Network Activity Halts Price Surge

This Mem Token Surpassed Bitcoin (BTC): Became the Most Traded Altcoin in March!

New Green Bitcoin Token to Launch on Uniswap After Raising $9.6M, CEX Listing to Follow

Koala Coin (KLC) The Adorable Alternative to Binance Coin (BNB) and Cosmos (ATOM)

Crypto VC firm Multicoin Capital reveales it co-led $225m funding in Wormhole

Coinbase Celebrates Canadian Registration Eight Months After Launch

Join our free newsletter for daily crypto updates!