Over 48,000 Bitcoin, valued at more than $4.5 billion, have been withdrawn from exchanges in the past week, signaling a potential shift in market dynamics.
As Bitcoin hovers near a critical level, many investors are closely monitoring the 50-day moving average (MA). A sustained close above this benchmark could confirm bullish momentum and signal the end of the current correction.
On Binance, profit-taking appears to be increasing, as traders holding long Bitcoin positions dropped significantly from 66.33% to 56.85% within the last 24 hours. This trend reflects growing caution among investors amid market uncertainty.
In 2024, MicroStrategy solidified its position as a Bitcoin giant, acquiring 178,704 BTC for over $15 billion. Remarkably, 84% of these purchases occurred in Q4 as Bitcoin approached the $100,000 mark. Michael Saylor’s strategic moves not only helped stabilize Bitcoin’s price but also inspired institutions and even central banks to adopt the cryptocurrency.
ETFs are transforming Bitcoin’s supply dynamics, acting as custodians while influencing exchange balances and miner wallets. BlackRock’s iShares Bitcoin Trust (IBIT) saw a record outflow of $332.6 million (-3,413 BTC) on January 2, 2025. Despite this, BlackRock reported cumulative 2024 inflows of $37.2 billion for its Bitcoin ETF and $3.53 billion for its Ethereum ETF.
On January 2, the Bitcoin spot ETF market experienced a total net outflow of $242 million. BlackRock’s IBIT led the outflows with $332 million, while Bitwise’s ETF saw a net inflow of $48.3 million, and Fidelity’s ETF recorded $36.2 million in inflows.
As Bitcoin continues its journey toward becoming the ultimate store of value, institutional actions, ETF trends, and investor sentiment will play crucial roles in shaping its trajectory.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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