BTC BTC EVERYWHEREBitcoin (BTC) prices have exhibited significant volatility. Prices are influenced by factors such as market demand, regulatory developments, macroeconomic trends, and investor sentiment. It's essential to check the latest market information for the most accurate and up to date BTC price. Visit reliable financial news websites or cryptocurrency exchanges for the current BTC price, trends, and analysis. Keep in mind that the cryptocurrency market is highly dynamic, and prices can change rapidly.
Grayscale sold above 60,000 BTC while other Bitcoin ETF issuers have purchased over 72,000 BTC.
Grayscale’s Bitcoin sale is unlikely to have driven the BTC price lower.
Profit-taking by large wallet investors and traders is likely the catalyst for the increasing selling pressure and BTC price drop.
The profit-taking spikes coincided with the large volume transactions valued at $100,000 and higher.
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Bitcoin network realized profit/ loss and whale transactions.
Between January 7 and 21, BTC on exchanges climbed from 5.34% to 5.40%. The rising supply on exchanges is typically considered as a factor that drives asset prices lower.
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Bitcoin supply on exchanges and price.
The expert dismissed the narrative that Grayscale’s Bitcoin sale is driving down prices, explaining that while Grayscale sold 60,000 BTC, other issuers acquired nearly 72,000 BTC. This is likely to have tackled the selling pressure from the former’s sale. Demand for the asset has likely increased with institutions lining up to acquire BTC, post SEC’s ETF approval.
