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Bitcoin in exchange wallets surges: Market implications

www.cryptopolitan.com

Bitcoin (BTC) stashed in wallets associated with centralized cryptocurrency exchanges has been steadily increasing, with a recent surge raising concerns of a potential market slowdown. The rise in BTC holdings on exchanges comes as the leading cryptocurrency has seen a 7% gain in value this month, following a substantial 28% rally in October.

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Timeline of Bitcoin


Bitcoin rises as pro-BTC candidate Javier Milei wins Argentine presidency - CryptoSlate

In a landmark victory, Javier Milei has clinched the presidential seat in Argentina, signaling a potential seismic shift in the country's economic landscape. Milei, known for his fervent endorsement of Bitcoin and scathing criticism of central banks, has brought a wave of optimism to the cryptocurrency market.


South Korea's BTC premium trades above the average price - Cryptopolitan

The crypto economy has seen substantial growth in the past month, particularly driven by notable trading activity in South Korea. Recent data from Cryptocompare.com reveals that on Saturday, November 18, 2023, the Korean won accounted for 3.53% of all bitcoin (BTC) trades in the previous 24 hours.


Strike partners with Checkout.com to enhance Bitcoin accessibility in over 65 countries - Cryptopolitan

Strike, a notable player in the cryptocurrency space, has recently announced a landmark partnership with Checkout.com, a move set to revolutionize Bitcoin accessibility across the globe.


Down From the Peaks: A Look at Bitcoin, Ethereum, and Others Two Years After the 2021 Surge - Bitcoin

It's been slightly more than two years since the 2021 cryptocurrency boom, a time when the crypto economy reached its zenith with a valuation of $2.90 trillion on November 10, 2021.


Bitcoin Network Fees Skyrocket Nearly 1,400% in November As Ordinals Inscriptions Dominate Top Blockchain - The Daily Hodl

Bitcoin (BTC) network fees are seeing a massive surge in November as demand for ordinals floods the leading blockchain. Data from CryptoFees.info finds that BTC's transaction fees skyrocketed from $779,549 at the start of the month to a peak of $11.63 million on November 17th, an increase of 1,391%.


Bitcoin (BTC) Price Analysis: Activity Gravitating to 36372 Technicals – 20 November 2023 - Crypto Daily

Bitcoin (BTC/USD) encountered additional upside traction early in the Asian session as the pair remained resilient around the 36404 area, just above the 50% retracement of the recent appreciating range from 34758.64 to 37987.


Bitcoin ETF approval nearing, but brace for more setbacks: BitGo CEO - Cointelegraph

In a recent interview with Bloomberg, Mike Belshe, CEO of crypto exchange BitGo, stated that the market structure needs to improve before the U.S. SEC will grant approval for Bitcoin ETFs.


Report of SEC's Spot Bitcoin ETF Advice Fuels Hope for Approval — Crypto Industry Views It as ‘Real Progress' - Bitcoin

The Securities and Exchange Commission (SEC) has reportedly provided specific guidance to exchanges seeking to list and trade spot bitcoin exchange-traded funds (ETFs) on what they should do next. “This is real progress,” said one crypto exchange insider. “The cash vs in-kind debate looks to be finding clarity.


Whales Gobble Up Bitcoin As Top Crypto Asset Tracks Sideways This Week, According to Analytics Firm IntoTheBlock - The Daily Hodl

A leading blockchain analytics firm says whales are accumulating Bitcoin (BTC) as the top crypto asset tracks sideways this week after its propulsive price action earlier this month. IntoTheBlock notes that the amount of Bitcoin held by addresses with over 1,000 BTC hit a new yearly high this week.


Bitcoin Outpaces Ethereum In Transaction Fees For First Time In 3 Years On Spot ETF Excitement - Zycrypto

The possibility of a spot Bitcoin exchange-traded fund (ETF) hitting the United States market has boosted demand for the crypto king, causing a spike in transaction costs while showering miners of BTC with extra revenue.

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