Bitcoin may be approaching a major turning point as large holders ease selling pressure.
According to on-chain metrics provider Wealthmanager, Bitcoin whales have been accumulating.
Why is this the case? Data from CryptoQuant shows whale holdings shifted from a net change of -282,000 BTC in July to -39,000 BTC, an improvement of about 243,000 BTC in less than three months.
Adding another layer to the story, Vanguard, an asset management giant overseeing about $13.3 trillion, recently bought $7.5 million in shares of Metaplanet, a company known for its Bitcoin treasury strategy.
This investment is noteworthy because it provides indirect exposure to Bitcoin through a publicly traded company whose strategy centers on accumulating the cryptocurrency.
Wealthmanager also noted that Bitcoin is consolidating in a structure resembling a pattern witnessed in 2023, before the apex cryptocurrency embarked on a significant rally.
Therefore, it remains to be seen whether BTC follows in its 2023 footsteps, with the price trading at $81,239 per CoinGecko data.
Meanwhile, bearish sentiment won’t wash away, as searches for the phrase “Bitcoin is dead” have reached their highest level since 2022.
Binance founder Changpeng Zhao (CZ), however, has framed this pessimism as a potential buying opportunity, noting that extreme negative sentiment has historically coincided with attractive entry points.
The Coinbase data breach and Ledger incidents show why crypto security extends beyond self-custody, with banks facing similar risks. The post Coinbase Data Breach Shows
Non-GAAP earnings per share was 28 cents. Fortrea forecast 2026 revenue of $2.665 billion to $2.690 billion and adjusted EBITDA of $210 million to $218
The position used 10x isolated leverage and showed an unrealized gain of about $69,300, with a liquidation price near $93.19.
The French-law fund is marketed as Smart Cash; a Sept. 18 snapshot showed its basket was 99.9% large-cap U.S. equities.
Blockchain Bodega is here and you know the vibes. We’re at the intersection of hip-hop culture and web3, exploring this new digital frontier. Who better to guide you through these uncharted lanes than Ock Chain – The Bitcoin Boss and the Consensus Corner Boys?
Ock Chain doesn’t just cook up random details about cryptocurrency; he lives it. Ock’s been deep in the game since Bitcoin was just a baby.
And let’s not forget about the Consensus Corner Boys. They’re our skilled crew of blockchain enthusiasts. They’re here to educate, entertain, and enlighten.
Welcome to Blockchain Bodega!
Copyright © 2023 Blockchain Bodega. All rights reserved.
