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Bitcoin price is poised for a decline as Mt.Gox-related transfers add to selling pressure
Bitcoin (BTC) is trading slightly down by 0.5% at $59,039 on Tuesday, struggling to rebound from a 3.6% decline on Sunday. Continued outflows from US-listed Bitcoin Exchange Traded Funds (ETFs) on Monday and recent fund movements from the Mt. Gox wallet, as revealed by Arkham Intelligence data, add to the market's uncertainty. Additionally, bearish signs from on-chain data appear to be a drag on Bitcoin’s price prospects in the near-term, outweighing the move from mining company Marathon Digital Holdings (MARA), which has laid out plans to raise $250 million to acquire more Bitcoin. According to Arkham Intelligence ... (full story)
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- Posted: Aug 13, 2024 11:21am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 153
