Bitcoin Whales Quietly At It Again As Investors Wait For Bottom

At a time when a majority of Bitcoin traders are at a standstill anticipating a bottom, the big Bitcoin whales are quietly accumulating at cheap prices. As Bitcoin prices fell steeply in the last three months, the crypto market witnessed a massive selloff activity.

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El Salvador's president and Bitcoin fanatic, Nayib Bukele, doubled down on his country's sinking investment in the cryptocurrency by purchasing more than $1.5 million more on Friday. The Central American nation hogged the headlines last year when it became the first nation to recognize bitcoin as legal cash.

Following a move below $19,000 on Thursday, BTC was able to rise above $20,000 during today's trading session. ETH also was able to remain above $1,000, following an attempt by bears to push price under this level during yesterday's session. Bitcoin Bitcoin was trading marginally higher on Friday, as markets rebounded following a bearish session

Bitcoin price is back below the USD 19,500 support zone. It is currently (11:44 UTC) consolidating near USD 19,200 and is almost unchanged in a day and down 7% in a week. Earlier today, BTC ested USD 20,500.

El Salvador's president, Nayib Bukele, said today that the Central American country had bought another 80 bitcoins at $19,000 each. Bukele Remains Bullish About Bitcoin The president made the announcement in a tweet posted on his official handle, where he…

Michael Burry, the co-founder of Scion Asset Management, predicted on Twitter that the market fall is about halfway through. Pointing to the massive downfall in the S&P 500, Nasdaq, and Bitcoin prices, Burry predicted that the market went through multiple compressions, with earning compression to follow.

The Grayscale BTC trust trades 355 lower than the Bitcoin price and the disparity recovered a little but only because the crypto continued falling so let's read more today in our latest Bitcoin news. The shares of the Grayscale Bitcoin Trust were trading at a discount of 35% after the US SEC rejection of its

The Bank for International Settlements has always maintained a skeptical stance regarding cryptocurrencies, which was further exasperated after the recent crash. However, it seems to have softened its stand and may allow banks to hold up to 1% of their reserves in cryptocurrencies like Bitcoin.

CFTC cited $1.7M multi-level-marketing scheme as the biggest fraud scheme that involved Bitcoin, and the agency alleged Cornelius Steynbger used this scheme to launder over $29K in BTC so let's read more today In our latest bitcoin news. The Commodity Futures Trading Commission or the CFTC cited a huge MLM scheme involving bitcoin as it

Securities and Exchange Commission has received a new application from investment firm VanEck for a Spot Bitcoin ETF. It's eight months since the SEC rejected VanEck's prior application and only a day after declining Grayscale Investments' and Bitwise's Spot Bitcoin ETF applications.

Bitcoin was trading below $20,000 on Friday after the cryptocurrency had registered its worst quarter in 11 years. The post Bitcoin registers its worst quarter in 11 years amid crypto market tumult appeared first on The Block.