Bitcoin hovered near $50,000 on February 25 amid what one analyst suspects are fresh buy-ins from institutional investors. US institutional investors are still buying Bitcoin at the 48k price,” said Ki Young Ju, CEO of on-chain analytics resource CryptoQuant.
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Markets Report: Bitcoin hits $50,000 as Pal heralds ‘only chance people have’
The last outpost of the $40,000s dissipates on Tuesday with momentum clearly visible for a takedown of new levels
After several attempts to leave the $40,000 trading corridor, Bitcoin saw rejection as the spot market hit around $49,780. Futures still managed to breach the $50,000 mark before a correction set in, that in itself lasting only hours before a final push sent the market to a peak of $50,600.
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Markets Report: Bitcoin holds its breath as ‘next bull run’ is due
A quiet day for Bitcoin markets comes as market participants already prepare themselves for the next big move up; Oaktree Capital’s Howard Marks is the latest bitcoin skeptic coming around
In a note to clients on Wednesday, Chinese exchange BTCC said that the past few days had laid the foundations for upside to once again take over the market. “Bitcoin remains a strong bullish sentiment as the top 100 richest addresses kept accumulating more than 350,000 BTC in the last 30 days” it noted.
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$47M in BTC leaves OKEx in a single block as withdrawals resume
The troubled exchange saw 2,822 BTC leave its reserves in transactions included in a single block on the Bitcoin blockchain when a nearly six-week freeze lifted
Presumably, traders were afraid that the funds were not safe with the exchange or just decided to bring their money elsewhere after being unable to access them for nearly six weeks. This movement may remind some of the recent bitcoin exodus from the BitMEX exchange after four top executives including CEO Arthur Hayes were indicted by the U.S. Justice Department.
