📈 In 2024, there is a significant increase in the ETH/BTC ratio, that is, the rate of Ethereum in relation to Bitcoin. This means that the value of ETH is increasing at a faster rate compared to BTC.
Although throughout 2023 the indicator mainly decreased.
Miners began to sell bitcoins more actively as the rate increased. The number of coins in their wallets fell to the lowest level since July 2021.
Since the beginning of 2024, their reserves have decreased by 8,426 BTC (approximately $530 million), the balance of wallets associated with miners that are monitored by analytical services is 1,812,482 BTC.
On the graph, the yellow line is the balance of miners’ wallets, the black line is the Bitcoin rate.
The price of this asset is highly unpredictable. She is highly influenced by news, for example. But, if we proceed from technical analysis, then the situation is very interesting.
Lawyers are seeking a prison sentence of up to 6.5 years for the founder of the bankrupt crypto exchange FTX, Sam Bankman-Fried.On the totality of charges, he faces up to 100 years in prison.According to court documents, the defense is asking to consider his background, education, experience on Wall Street and founding trading companies, and that "he was motivated by more than just greed."The infamous FTX was one of the leading crypto exchanges 2 years ago before going bankrupt in November 2022 and thereby triggering a crypto market crash. Bankman-Fried is charged with fraud for embezzlement of user funds and is awaiting sentencing, scheduled for March 28.According to The New York Times, he is now in a detention center in New York, where he often shares investment tips on cryptocurrencies with fellow inmates and guards. In particular, he recommended that they buy the Solana token.#NewsofCrypto #ftx