💰 Yesterday ETFs bought 5,700 BTC, but only 450 were mined | TopCryptoNews on Binance Square

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💰 Yesterday ETFs bought 5,700 BTC, but only 450 were mined

If this continues, Bitcoin will become the most scarce asset in the world.
#ETF #BTC $BTC 

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👀 How many Bitcoins do countries have? Retail and institutional investors aren’t the only ones holding bitcoin in their portfolios. Governments around the world are too. According to CoinGecko, as of July 29, 2024, governments around the world hold 2.2% of the total supply of Bitcoin, or 471,380.6 #BTC , which is worth $32.7 billion. Some of the largest holders $BTC are the United States and China - between them they have almost 400 thousand $BTC ($21.6 billion). #Bitcoin

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👀 VanEck's Ethereum Futures #ETF is closing. VanEck Announces Ethereum Strategy Futures ETF (EFUT) Will Be Shut Down ❌ Based on the analysis of performance, liquidity and investor interest, it was decided that this solution was the best one. The closure of this fund was also influenced by the opening of a spot ETF on #Ethereum .

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🤔 Bitcoin Is Ready to Reverse Or Are We Awaiting a Breakout of $50K? After a significant price decline of 10% over the last two days, Bitcoin is now ready for a reversal, according to some analysts. For example, crypto analyst Trader Tardigrade said that the CMO indicator is signaling a potential reversal for BTC. 🕯 Having reached an all-time high of $73,777 in March 2024, BTC has been moving in a descending channel ever since. The trader noted that whenever BTC reaches the bottom of the channel, the CMA technical indicator touches the rebound trigger zone and the #BTC price starts to recover.

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🔥 Elon Musk’s Tweet Boosts Dogecoin (#DOGE ) Price: What’s Next Elon Musk’s cryptic “D.O.G.E” post has once again breathed life into Dogecoin (DOGE), offering a potential recovery from its recent downturn. The billionaire CEO of Tesla has made similar posts on several occasions, and nearly every time, these mentions spark a rise in the meme coin’s value. However, DOGE’s uptrend after similar events tend to be short-lived. This analysis explores whether the current situation might follow the pattern. 🔸 Elon Musk Continues to Give Dogecoin a Hand On September 7, Musk posted again about the Department of Government Efficiency on X and followed it up with an AI-generated image featuring him and the acronym ” D.O.G.E.” Saturday was not the first time Musk, who also doubles as the owner of the X social media platform made such a post. In August, BeInCrypto reported a similar development that affected Dogecoin’s price, causing it to jump by 6%. Furthermore, the post appears to be in line with the speculation that Musk might play a role in Donald Trump’s administration if he wins the November US election. From an on-chain perspective, Musk’s recent action triggered a notable surge in the cryptocurrency’s social dominance. This spike implies an increase in the active discussion around DOGE. Historically, depending on the broader market condition, this sudden surge positively impacts the price. Consequently, DOGE has been able to notch a price increase while trading at $0.095. However, according to data obtained from the top 20 exchanges, the meme coin might be able to sustain the price increase this time. According to IntoTheBlock, the broader market seems prepared to bid (buy) over 500 million coins, which are valued at over $50 million. This value is much more than the 399 million coins allocated to be sold (ask). If the buy orders continue to outpace the sell side, DOGE’s price could begin a move higher than $0.095.

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⭐️ Analysts believe that US companies will buy $10 billion worth of #Bitcoin over the next 18 months - traditional corporate investment strategies rely on fiat and other short-term cash equivalents, which are poor stores of value because they often fail to outpace inflation.

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