2024

Bitcoin

Coin

<ul class="news-points"> 
 <li><strong>Coinbase analysts indicate potential relief from Bitcoin selling pressure.</strong></li> 
 <li><strong>Over $1.46 billion flowed into U.S. Bitcoin ETFs, signaling renewed interest.</strong></li> 
 <li><strong>Bitcoin has displayed resilience, posting a 3.5% gain in the past week.</strong></li> 
</ul> 
<p>In a recent assessment, analysts at Coinbase have noted a promising trend in the cryptocurrency market. In particular, they suggested that the downward pressures on <a href="https://coinedition.com/bitcoins-realized-cap-reflects-strong-capital-inflows-into-btc-market/" target="_blank" rel="noreferrer noopener">Bitcoin</a> and other digital assets may be nearing exhaustion.&nbsp;</p> 
<p>This insight came in Coinbase’s Weekly Market <a href="https://www.coinbase.com/en-gb/institutional/research-insights/research/weekly-market-commentary/weekly-2024-02-02" target="_blank" rel="noreferrer noopener nofollow">report</a> released on Friday, providing hope for investors amid recent market turbulence. Chinese reporter Colin Wu called attention to this report on X.</p> 
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   <p lang="en" dir="ltr">Coinbase analysts noted that downward pressure on Bitcoin has diminished significantly as the FTX bankruptcy estate sold off its large GBTC holdings. The Fed's monetary easing cycle, which is likely to begin on May 1, and the end of the balance sheet reduction program that began…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1753602356527394868?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">February 3, 2024</a>
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<p>The report highlighted several key developments contributing to this shift in sentiment. Foremost among them was the conclusion of FTX’s sale of its considerable Grayscale GBTC holdings. …</p>
<p>The post <a href="https://coinedition.com/coinbase-analysts-say-bitcoin-selling-pressure-over-as-ftx-gbtc-sale-ends/">Coinbase Analysts Say Bitcoin Selling Pressure Over as FTX GBTC Sale Ends</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.</p>

Coinbase Analysts Say Bitcoin Selling Pressure Over as FTX GBTC Sale Ends

Coin Edition

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