Bitcoin is back above $21,000 after dipping below $20,000 for the first time since December 2020. The largest cryptocurrency by market cap witnessed an immense plunge in June as investors looked to sell off to avoid further losses. The increase in selling pressure was attributed to Bitcoin whales who rushed to buy the dip, hoping that a bullish momentum would follow.
Over the weekend, there was a record increase in Bitcoin outflows amounting to 30,000 BTC translating to over $600M. This formed part of over 64,000 BTC moved out of crypto exchanges since June. Most of these coins are reported to have come from Coinbase Pro and is reportedly the most significant transfer of Bitcoins in the last 35 days. Other exchanges have also witnessed large Bitcoin buyouts from whales who looked to “make hay while the sun shone.”
Over the reported period, large amounts of BTC were transferred from crypto exchanges. This consistency in large Bitcoin outflows indicated that large corporations and...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...