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🔥$7.55 Billion BTC Pulled From Exchanges in a Month: Mystery Surrounds the Disappearance of 111,000 BTC!🤔🚀 A staggering move of nearly 111,000 Bitcoin – valued at about $7.55 billion – exited exchange wallets in just the past month. This mass departure underscores a steady decline in Bitcoin availability on exchanges, hinting at a shift away from these platforms. One possible reason for this exodus could be a growing preference among investors to stash their Bitcoin in private wallets instead of leaving them on exchanges. Moreover, institutional adoption of Bitcoin has ramped up recently. Institutional players may opt to safeguard their holdings in private or cold wallets for long-term security. The withdrawal of such a substantial amount of Bitcoin from exchanges could potentially trigger a supply shortage, where demand for Bitcoin outstrips available stock – a situation ripe for a bullish surge. A whopping 21,400 BTC, valued at roughly $1.40 billion, moved into accumulation addresses that have never spent any funds in a single day. On-chain analytics firm IntoTheBlock reports that Bitcoin ETFs have accumulated over 4% of the BTC supply in less than three months. The balance of whales – addresses holding 1,000 BTC or more – has seen a dramatic surge since the inception of ETFs, reaching its highest point since June 2022. This year alone, whales have amassed an additional 220,000 BTC, totaling $14.2 billion, with 210,000 BTC flowing in through ETFs, driving the majority of whale accumulations. This surge has propelled Bitcoin to new all-time highs, further fueling demand for crypto assets. At the time of writing, BTC surged by 2.27% in the last 24 hours, reaching $70,656. #BTC #HalvingHorizons #BinanceLaunchpool #cpi #BullorBear $BTC $ETH $BNB

🔥$7.55 Billion BTC Pulled From Exchanges in a Month: Mystery Surrounds the Disappearance of 111,000 BTC!🤔🚀

A staggering move of nearly 111,000 Bitcoin – valued at about $7.55 billion – exited exchange wallets in just the past month. This mass departure underscores a steady decline in Bitcoin availability on exchanges, hinting at a shift away from these platforms.

One possible reason for this exodus could be a growing preference among investors to stash their Bitcoin in private wallets instead of leaving them on exchanges.

Moreover, institutional adoption of Bitcoin has ramped up recently. Institutional players may opt to safeguard their holdings in private or cold wallets for long-term security.

The withdrawal of such a substantial amount of Bitcoin from exchanges could potentially trigger a supply shortage, where demand for Bitcoin outstrips available stock – a situation ripe for a bullish surge.

A whopping 21,400 BTC, valued at roughly $1.40 billion, moved into accumulation addresses that have never spent any funds in a single day.

On-chain analytics firm IntoTheBlock reports that Bitcoin ETFs have accumulated over 4% of the BTC supply in less than three months.

The balance of whales – addresses holding 1,000 BTC or more – has seen a dramatic surge since the inception of ETFs, reaching its highest point since June 2022. This year alone, whales have amassed an additional 220,000 BTC, totaling $14.2 billion, with 210,000 BTC flowing in through ETFs, driving the majority of whale accumulations.

This surge has propelled Bitcoin to new all-time highs, further fueling demand for crypto assets.

At the time of writing, BTC surged by 2.27% in the last 24 hours, reaching $70,656.

#BTC #HalvingHorizons #BinanceLaunchpool #cpi #BullorBear $BTC $ETH $BNB

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🔥Hold Your Crypto! Bank of America Says Don't Sell Just Yet🖖 Bank of America (BoA) is urging investors not to sell their crypto despite the upcoming Consumer Price Index (CPI) report. With inflation numbers for April 2024 set to be released soon, the bank's message is clear: HODL and keep an eye on the market. What to Expect from the Upcoming CPI Report The US Bureau of Labor Statistics is releasing the latest inflation data on May 15, and it's likely to shake things up. Analysts predict that headline inflation will increase by 0.4% and core inflation by 0.3%, keeping prices high above the Federal Reserve's 2% target. What This Means for Crypto Historically, summer has been a strong season for stocks, especially during presidential election years. BoA notes that the S&P 500 tends to rally between June and August, with average gains of 3.2%. In election years, this jumps to 7.3%, with the S&P 500 gaining 75% of the time. Bitcoin also shines in these years, boasting an average return of 23.68%. Don't Sell! BoA advises against selling right now, pointing out that the market has a tendency to heat up during summer, particularly in election years. This historical trend might mean a boost not just for stocks but for Bitcoin and other cryptocurrencies as well. Crypto is not just for retail investors anymore. Major institutions like Susquehanna International (holding $1.2 billion in Bitcoin across ten ETFs) and Hightower (with $68 million in Bitcoin through six ETFs) are showing their faith in Bitcoin. This kind of institutional backing could mean that BTC & other cryptos are seen as a hedge against inflation. Bottom Line: Keep Calm and HODL While the upcoming CPI report could bring market volatility, BoA advises caution and patience. Don't rush to sell your crypto; historical data suggests that the market could be set for a summer rally, especially with election year trends in the mix. Stay tuned for the latest inflation data, but remember, the long-term prospects for crypto could be very promising. #BinanceLaunchpool #BTC #altcoins #ETHETFS #buythedip $BTC
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Vitalik Buterin's New Plan for Ethereum Transaction Fees Is a Mixed Bag🤷 Ethereum co-founder Vitalik Buterin has unveiled a groundbreaking plan that could change how transaction fees work on the Ethereum network. Known as multidimensional gas pricing, this new approach aims to address the inefficiencies in Ethereum's current fee structure. Gas fees are like a toll system for the Ethereum network; they measure the computational effort needed for transactions and block processing. Traditionally, Ethereum used a single metric to represent various resource demands, like calculations and storage operations. However, Buterin points out that this one-size-fits-all model has its problems, treating different resource needs as if they were the same. The new multidimensional gas pricing concept could lead to a more efficient fee structure. Essentially, it breaks down the transaction cost into different components, aligning them with the actual resource demands. This change is part of Ethereum Improvement Proposal (EIP) 4844, which focuses on more accurate resource allocation. The recent Dencun upgrade incorporated “blobs” to reduce the cost of rollups—layer-2 solutions that boost Ethereum's scalability. This upgrade has already made rollups 100x cheaper, resulting in a tripling of transaction volume on these platforms. The potential downside is that with the new upgrade, Ethereum's median transaction fee dropped by over 90%, leading to a significant reduction in the total fees burned. Since Ethereum burns a portion of its fees, this reduction could mean a shift from deflationary to inflationary currency. Ethereum's fee structure changes come at a crucial time as other blockchain networks like Solana offer lower-cost transactions. Vitalik Buterin's multidimensional gas pricing plan is set to reshape Ethereum's fee structure, making it more efficient and scalable. However, these changes could also impact Ethereum's deflationary nature, leading to broader implications for the network's economic model. #ETHETFS #altcoins #BTC #buythedip #BinanceLaunchpool $BTC $ETH $SOL
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💥Fortune Favours the Hodler! $121 Billion Worth of BTC Stays Dormant for Over a Decade💵🤑 Bitcoin's long-term holders, who literally invested close to nothing about 15 years ago, have a shocking secret—1.75 million Bitcoin wallets have been inactive for over 10 years, holding nearly 1.8 million BTC. At today's prices, that's a whopping $121 billion just sitting there, untouched. Most of these wallets likely bought Bitcoin when it was dirt cheap, back when you could snag a coin for double-digit prices. Now, those coins are worth millions, but their owners haven't made a move in ages. So, what's happening with all this dormant Bitcoin? Recently, some of these ancient wallets have been waking up, hinting at big shifts in the Bitcoin landscape. Just this year, a wallet that hadn't seen action for 11 years suddenly transferred $30 million in Bitcoin. Another trio of wallets, silent for six years, moved a mind-boggling $230 million in November 2023. What's interesting is where these coins are heading. Many of these recently activated wallets have transferred their Bitcoin to new addresses or even to cryptocurrency exchanges, which suggests that some owners might be ready to cash out after years of holding on. The three wallets that moved $230 million in BTC in November seem to be linked to the same person or group—they all made their last transactions on the same day, back in 2017. Is this a coordinated plan, or just a coincidence? Either way, it's clear that Bitcoin's early adopters are stirring. With so much Bitcoin on the move, the crypto world is buzzing with speculation. Will these newly active wallets trigger a sell-off, or are they just reshuffling their holdings? As Bitcoin's history continues to unfold, all eyes are on these mysterious wallet owners. #ETHETFS #BTC #bitcoin #CryptoWatchMay2024 #buythedip $BTC
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