Bitcoin Whales Holding 100k+ BTC Increase to an 11 Month High

Summary: The number of Bitcoin whales holding 100k BTC or more has hit an 11 month high The whales now control 2.20% of Bitcoin supply up from 0.76% 11 weeks ago At the same time, smaller addresses of 1k – 100k Bitcoin have dropped The drop could be attributed to selling before BTC broke $60k Bitcoin could lose the $58k support zone during the weekly close Bitcoin whales holding 100k or more BTC are continuously stacking sats. This is according to data shared by the team at Santiment that points…

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Bitcoin Miners are Now Holding BTC, Uptrend Likely in April

In brief: Bitcoin Miners’ Position Index (MPI) has been low since March 6th Bitcoin miners are now holding BTC rather than selling 90k Bitcoin options expired earlier today on Deribit, removing the anxiety of additional selling April could be a green month based on historical data Bitcoin miners are now holding their BTC rather than selling it in the crypto markets as witnessed when Bitcoin exceeded $42k. This is according to data from CryptoQuant.com that illustrates that the Bitcoin Miners’ Position Index (MPI) has been significantly low since March 6th.…

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BTC Addresses Hodling 1 BTC or Less Have Been Stacking Since Mar. 2018

In brief: Bitcoin investors holding 1 BTC or less have continued to accumulate sats since March 2018 This group of Bitcoin investors has weathered the volatility for 3 years and now own 5.2% of Bitcoin’s supply Holders with 0.1 to 1 BTC increased significantly after the Coronavirus dip of March 2020 Bitcoin holders owning 1 BTC or less, have been continually stacking sats since March 2018. This is according to a recent report by the team at Glassnode that also highlighted that this category of investors now owns 5.2% of…

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Bitcoin Paid to Tesla for Vehicles Will Be Retained as BTC – Elon Musk

Summary: Bitcoin is now a payment option when buying a Tesla Elon Musk has also clarified that the Bitcoin paid to Tesla will be retained as BTC and not converted to fiat Tesla accepting Bitcoin is a giant leap forward for BTC and digital asset adoption Bitcoin is once again above $55k and the Tesla news could provide some stability this week The CEO of Tesla, Elon Musk, has announced that the company now accepts Bitcoin as a payment option. According to Mr. Musk, the Bitcoin paid to Tesla will…

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117k Bitcoin Quarterly Options Expire this Friday, March 26th

Summary: 117k Bitcoin Options expire this Friday, March 26th The maximum pain point for the expiry is $44k according to the team at Deribit Insights Bitcoin has lost the $55k support zone with $53k the level to watch moving forward A drop to $49k seems likely Bitcoin will undergo a big quarterly expiry of options this Friday, March 26th. According to data from the team at Skew, a total of 117,000 BTC in Bitcoin options expire on this date. The team shared their observation through the following Tweet with an…

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Coinbase Ordered to Pay $6.5M by the CFTC for Wash Trading

Summary: The CFTC has ordered Coinbase to pay $6.5 million for ‘false, misleading or inaccurate reporting and wash trading’ Coinbase is also ordered to cease and desist from any further violations of the Commodity Exchange act The accusations center on trading activities on Coinbase between January 2015 and September 2018 The Commodity Futures Trading Commission has ordered Coinbase to pay a penalty of $6.5 million for what the CFTC describes as ‘reckless false, misleading, or inaccurate reporting as well as wash trading by a former employee on Coinbase’s GDAX platform’.…

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BTC Analyst: Fair Chance We Never See Bitcoin’s Market Cap Below $1T

In brief: Willy Woo has pointed out that only 7.3% of Bitcoin’s supply has moved since BTC hit a $1 Trillion market cap Chances are, that the $1 Trillion market cap is supported by investors henceforth Bitcoin maintains a $1T market cap at $53,590 $55k is the level to watching during the weekly close Deribit Bitcoin options worth $5.7B expire next Friday and could provide additional selling pressure Veteran Bitcoin analyst Willy Woo has forecasted that BTC’s market cap might never drop below $1 Trillion again. Mr. Woo cites that…

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Bitcoin is Now More Valuable Than a Kilogram of Gold

In brief: Bitcoin at a value above $58,400 is worth more than a kilogram of gold Bitcoin’s market cap at over $1 Trillion has made it hard to ignore and could usher in a new phase of growth $55k is the level to watch during the weekly close News of Coinbase being fined by the CFTC might have a negative effect on Bitcoin during the weekly close Bitcoin is now worth more than a kilogram of Gold. This is according to data by the team at Documenting Bitcoin who compared…

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$93M is All it Takes for Bitcoin (BTC) to Gain by 1%

In brief: Bitcoin is more sensitive than gold to inflows of fiat According to B0fA, a $93 million injection into Bitcoin would result in a price appreciation of 1% Gold would need $2 Billion to achieve a similar feat Bitcoin’s price action is yet to be overheated on a fundamental level 1% of Stimmy Checks could send Bitcoin to $73k Large fiat investments in Bitcoin have been observed to have a positive impact on the price of BTC. According to a Bank of America strategist, a net inflow of $93…

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Cash App Users Can Send and Receive Bitcoin Within the App for Free

In brief: Users of Cash App can now send and receive Bitcoin to other users within the app without incurring transaction fees This means that they can send Bitcoin in a manner similar to sending fiat Such a move by Cash App is bound to increase the use and adoption of Bitcoin Retail investors bought more Bitcoin than institutions this quarter through Paypal and Cash App The popular mobile payment company of Cash App has just announced that sending and receiving Bitcoin on the app will no longer incur transaction…

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