Bhutan has sold about 519.7 Bitcoin worth roughly $36.7 million, continuing a trend of reducing its sovereign Bitcoin holdings that began in March. This latest sale follows previous Bitcoin transfers totaling over $83 million earlier in March and February, cutting Bhutan's Bitcoin reserves from over 13,000 BTC in October 2024 to around 4,453 BTC now. Bhutan, one of the earliest adopters of Bitcoin mining, uses its Bitcoin assets to support economic growth and plans to leverage its holdings for projects like the Gelephu Mindfulness City. The reduction in reserves highlights Bhutan's ongoing strategy to manage its Bitcoin assets amid broader economic development goals.
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ether has surged about 11% over the past week, outperforming other major cryptocurrencies like Bitcoin, which rose 4%. This rise is driven by $96 million inflows into U.S. spot ether ETFs, mainly BlackRock’s low-fee funds, while Grayscale’s higher-fe...
Bitcoin's price surged to nearly $65,000 following softer-than-expected U.S. inflation data for June, easing fears of Federal Reserve rate hikes. However, on-chain data reveals two main groups of investors—long-term holders who bought near last year'...
Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...
