Donald Trump

Long-term <a href="https://insidebitcoins.com/news/number-of-bitcoin-millionaires-surges-111-in-past-year-as-analyst-predicts-btc-will-soar-to-150k-by-year-end" rel="noopener noreferrer nofollow">Bitcoin</a> holders have collectively spent more than $10 billion to purchase the leading crypto as BTC loses the $60K support and brings an end to the 8-day inflow streak recorded by spot Bitcoin ETFs (exchange-traded funds).
“For the first time ever, the realized capitalization of long-term holders has exceeded $10 billion,” said CryptoQuant contributor Amr Taha in an Aug. 27 <a href="https://cryptoquant.com/insights/quicktake/66ce0568a409da60dc779f4b-For-the-first-time-ever-the-realized-capitalization-of-long-term-holders-has-exc" rel="noopener noreferrer nofollow">post</a>.
<img decoding="async" src="https://conecta.tec.mx/sites/default/files/styles/header_full/public/2024-01/bitcoin-en-fondos-indexados-explicado-peras-manzanas.jpg.webp?itok=GTQn109H" alt="Bitcoin in the financial markets: what you need to know | Tecnológico de Monterrey">
<h2 id="span-style-font-weight-400-bitcoin-drops-below-60k-as-spot-etfs-end-recent-inflow-streak-span">Bitcoin Drops Below $60K As Spot ETFs End Recent Inflow Streak</h2>
Over the past 24 hours, the largest crypto by market cap <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">dropped</a> more than 5% to trade below the psychological $60K mark at $59,190.79 as of 2:37 a.m. EST. This drop in the BTC price comes after US spot Bitcoin ETFs ended their 8-day inflow streak yesterday.
Data from <a href="https://sosovalue.xyz/assets/etf/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue</a> shows that the funds recorded a net outflow of $127 million. The majority of the capital that was withdrawn came from the spot Bitcoin <a href="https://insidebitcoins.com/news/blackrock-and-fidelity-lead-bitcoin-etfs-to-5-week-high-inflows-of-250-million" rel="noopener noreferrer nofollow">ETF</a> belonging to Ark &amp; 21Shares, which suffered $101.97 million outflows.&nbsp;
Investors also pulled funds out of Grayscale’s GBTC and Bitwise’s BITB, with $18.32 million and $6.76 million leaving GBTC and BITB yesterday, respectively. BlackRock’s IBIT was among 8 of the funds that saw zero flows on Aug. 27.
<h2 id="span-style-font-weight-400-traders-take-a-hit-span">Traders Take A Hit</h2>
On-chain monitoring platform Lookonchain said in an Aug. 28 X post that 87,405 traders were liquidated following the recent drop in both Ethereum and BTC’s prices. Liquidations over the past 24 hours totaled $318.46 million, according to Lookonchain. A whale who had a long position on BTC also took a $12.6 million hit following the recent correction.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> dropped by ~7% and <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> dropped by ~10%!
 87,405 traders were liquidated for $318.46M in the past 24 hours.
 A whale was liquidated for $12.67M on an ETH/BTC long position.
 Another whale was liquidated for $12.6M on a <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> long position.… <a href="https://t.co/9aObwOYjKv" rel="noopener noreferrer nofollow">pic.twitter.com/9aObwOYjKv</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1828611076671578138?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 28, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Amid the recent downturn, pseudonymous crypto trader and analyst Rekt Capital told his 496.4K followers in an Aug 28 X <a href="https://x.com/rektcapital/status/1828561607934275840" rel="noopener noreferrer nofollow">post</a> that “Bitcoin will retrace deep enough” to convince investors that the bull market is over, only to “resume its uptrend” soon after the pullback.
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Long-Term Bitcoin Holder Capitalization Tops $10B As BTC Loses $60K Support And Ends 8-Day ETF Inflow Streak

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