Who is behind the $2B of daily Bitcoin profit-taking?
Description
It has been a tumultuous 24 hours for Bitcoin, which nearly dropped out of the $90K range as long-term holders took huge profits. But, it seems, primarily "long-term holders" in a technical sense, as the real veterans are as diamond-handed as ever. And for good reason, because it seems the recent correction has not done much damage to Bitcoin's odds of a $100K price tag before 2025. Outside of BTC, we look at Binance delisting five tokens and sending them tumbling, Brazil considering a Bitcoin reserve and Tornado Cash getting a court victory in the US.
Further reading:
- Bitcoin $2B daily profit-taking involves mostly new hodlers — Research
- Bitcoin has a 50-50 chance of reaching $100K by year-end: Options data
- Binance delisting sends five tokens tumbling 40%
- Brazil’s Congress to weigh Bitcoin Reserve as hedge against global risks
- Big victory in Tornado Cash case as judge says OFAC exceeded authority
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