Bitcoin ETFs Trigger Massive Miner Outflows, Over $1 Billion Moved to Exchanges
Bitcoin miners reportedly sell their asset reserves or leverage them to upgrade their capacity as inflows to cryptocurrency exchanges continue.
A new report from Bitfinex Alpha Market shows Bitcoin ETF approvals by the United States Securities and Exchange Commission (SEC) impacted miners' reserves.
According to the report, miners' asset reserves have plunged to 1.826 million, marking the lowest point since June 2021 as miners hoarded parts of profits during the bear season 2022.
On Jan 12, a day after the approval of ETFs, $1 billion worth of miner BTC was moved to exchanges, setting a six-year high in miner outflows according to data from on-chain analytics firm Glassnode. #sanor016CommUNITY #Write2Earn
BlackRock's Bitcoin ETF reaches top 0.2% of all ETFs so far this year
BlackRock's iShares Bitcoin exchange-traded fund (ETF) has made it into the top 0.16% of all United States-issued ETF products.
The spot Bitcoin ETF has topped $3.19 billion in flows, according to Feb. 5 data from Senior Bloomberg ETF analyst Eric Balchunas, being surpassed only by broad index funds tracking the S&P 500 and Vanguard's Total Stock Market ETF. #sanor016CommUNITY #Write2Earn
bitcoin.info.9 Bitcoin OG who called 2021 all-time high sees $600K BTC price by 2026
Bitcoin will see a minimum $200,000 in the coming years and could pass half a million dollars, a popular analyst predicts.
In his latest update on long-term BTC price action, advisor and early Bitcoin evangelist Tuur Demeester put BTC/USD at up to $600,000 by 2026. #sanor016CommUNITY #Write2Earn