BlackRock, the world’s biggest asset manager, acquired an additional $1 billion worth of Bitcoin (BTC) in the past week, raising its holdings to 2.7% of Bitcoin's total supply. The firm’s 53,000 BTC purchase brings its total stash to $58.43 billion, according to Arkham data . This now surpasses the amount held by governments globally, which hold approximately 471,380 BTC, or 2.2% of Bitcoin's total supply, valued at $32.7 billion, according to CoinGecko . Despite some outflows earlier this month, BlackRock’s iShares Bitcoin exchange-traded fund (ETF) continues to dominate the sector, with more than $3.4 billion in inflows since the beginning of January, according to SoSoValue Data. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Bitcoin ordinals, which are akin to non-fungible tokens (NFTs) on the Bitcoin network, are suffering as the leading collections trend down to their lowest prices in nearly a year. Some of the leading collections, such as Bitcoin Puppets and NodeMonkes, are both down to .068 BTC, or around $7,000 at current prices, after topping out as high as .47 and .9 BTC in April 2024. These are the lowest floor prices for both collections since February 2024, right before Ordinals exploded. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Bitcoin (BTC) has recently experienced a swift recovery from a temporary dip, highlighting the resilience of retail investors in the crypto market. With a significant increase in bullish derivative accounts,
During Tuesday’s U.S. market session, the crypto market experienced a notable downtick, with Bitcoin struggling to hold a…
The UK could potentially sell its multi-billion dollar trove of Bitcoin ( BTC ) to plug holes in its finances, according to accounting giant RSM. According to blockchain “de-anonymizing” platform Arkham , the UK government holds about $6,270,000,000 worth of Bitcoin, most of it from when it seized coins belonging to convicted money launderer Jian Wen. Prosecutors say Wen converted Bitcoin into cash and property, though her lawyers allege that someone else was the brains behind the operation. Now, with holes in the UK’s fiscal situation, the Daily Mail reports that Rachel Reeves, the UK’s Chancellor of the Exchequer, has been instructed by insiders to consult with experts on when to sell the BTC to achieve the best deal for the British taxpayer. Says Chris Etherington, a partner at accounting firm RSM, “There is a strong case for selling the Bitcoin right away. The currency is too volatile, too speculative. Rachel Reeves will be looking at it given the political pressure she is under as she waits for the Office For Budget Responsibility forecasts. Germany cashed in last year. Let’s face it – it is a get out of jail free card for her.” Says lawyer Quentin Hunt, “It [forfeited crypto-currency] gets paid back into the public purse to the Consolidated Fund, which is where all the monies go to which are effectively seized. That money is managed by the Treasury – so it effectively goes back into the public purse.” Last year, the German government sold off 50,000 of its BTC under similar circumstances. Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post $6,270,000,000 Worth of Seized Bitcoin Could Be Sold By UK To Pay Off Debts: Accounting Giant appeared first on The Daily Hodl .
Kentucky State Representative TJ Roberts has announced plans to file a 'Bitcoin Strategic Reserve Bill' in the state's General Assembly. The proposal aims to establish a strategic reserve of Bitcoin, reflecting a growing interest in cryptocurrency within state governance. The announcement was made through various channels, emphasizing the legislative intent to integrate cryptocurrency into Kentucky's financial framework. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
BTC's brief decline was met with fast accumulation by buyers.
Bitcoin is showing signs of a gradual recovery following its earlier pullback. After dipping below the $100,000 mark, the cryptocurrency has regained ground, currently trading above $102,000. This represents a 6.3% increase over the past two weeks. Amid this upward trajectory, a CryptoQuant analyst has assessed the patterns of Bitcoin’s realized capitalization and UTXO age bands for clues about what might come next. Related Reading: Bitcoin Hovers Above $104K—Analyst Reveals What’s Next Based on Funding Rates What the Data Suggests About Bitcoin’s Future IT Tech, a contributor to the CryptoQuant QuickTake Platform, recently shared insights on Bitcoin’s current cycle behavior. According to the analysis, the proportion of younger UTXOs—coins that have moved recently—has begun to rise. Historically, high levels of younger UTXOs have coincided with cycle tops, as seen during the peaks of 2013, 2017, and 2021. Although the current cycle has not yet reached these extreme levels, the increase in younger UTXOs suggests that newer market entrants are becoming more active. According to IT Tech, based on historical trends, a high proportion of young UTXOs typically signals increased speculation, which can lead to heightened volatility and a potential market top. If this trend continues, Bitcoin could see another leg up before significant distribution takes place. Conversely, if long-term holders maintain their positions, the current rally may still have room to grow. IT Tech emphasized that while current indicators point to increased market activity, the younger UTXO levels remain below historical peaks. Bitcoin’s Next Move: Are We Approaching a Cycle Top or Just Gaining Momentum? “Suggests that we are entering a phase of increased market activity, but the proportion of young UTXOs is not yet at the historical peak levels.” – By @IT_Tech_PL Link 👇https://t.co/fVO3Kuavlw pic.twitter.com/pxegbBrpBX — CryptoQuant.com (@cryptoquant_com) January 28, 2025 This provides room for Bitcoin to continue its upward trajectory, but market participants should remain vigilant. IT Tech concluded by noting: The chart suggests that we are entering a phase of increased market activity, but the proportion of young UTXOs is not yet at the historical peak levels. This could mean that Bitcoin still has room for further upside, but traders should closely monitor the ratio of young coins to long-term holdings for potential warning signs of a top. Bitcoin Market Performance At the time of writing, Bitcoin trades at a price of $102,768 marking a 1.3% increase in the past day. This slight surge in price has boosted BTC’s market cap back above $2 trillion—a notable surge from $1.96 trillion seen on Monday. Interestingly, despite this increase, Bitcoin’s daily trading volume has seen an opposite trend currently sitting at a valuation of $50.2 billion, a notable decrease from over $100 billion seen last week. Featured image created with DALL-E, Chart from TradingView
Software firm MicroStrategy and its co-founder Michael Saylor have become synonymous with Bitcoin. Here’s everything you need to know.
Bitcoin clings to $100K amid market anticipation before the FOMC meeting as traders await potential Fed impact on risk assets. The post Bitcoin clings to 100K ahead of tomorrow’s FOMC meeting appeared first on Crypto Briefing .