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$ESPORTS Explosive Recovery Alert!
$ESPORTS is roaring back from 0.35757 with a strong bullish engulfing candle on the 1H chart, showing powerful buying momentum. Entry zone: 0.4380 – 0.4450, targeting 0.4550 / 0.4620. Stop Loss at 0.4210. Price currently holding at 0.4464 (+6.61%), signaling a potential retest of recent highs at 0.46219. Buyers are in control—momentum is strong!
#esports #cryptotrading #bit $ESPORTS
$ESPORTS is roaring back from 0.35757 with a strong bullish engulfing candle on the 1H chart, showing powerful buying momentum. Entry zone: 0.4380 – 0.4450, targeting 0.4550 / 0.4620. Stop Loss at 0.4210. Price currently holding at 0.4464 (+6.61%), signaling a potential retest of recent highs at 0.46219. Buyers are in control—momentum is strong!
#esports #cryptotrading #bit $ESPORTS
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Revolutionary Crypto Cash-Out Service Launches in Nigeria Via RedotPay and Ripple
BitcoinWorld Revolutionary Crypto Cash-Out Service Launches in Nigeria via RedotPay and Ripple
Imagine converting your Bitcoin directly into your local bank account within minutes. This vision is now a reality in Nigeria, as stablecoin payment firm RedotPay launches a groundbreaking crypto cash-out service powered by Ripple’s technology. This partnership marks a significant leap forward for financial inclusion and cryptocurrency utility in one of Africa’s largest economies.
What Is This New Crypto Cash-Out Service?
RedotPay, in collaboration with Ripple, has introduced a seamless platform built on Ripple Payments. This service allows Nigerian users to effortlessly swap popular cryptocurrencies like Bitcoin (BTC), USD Coin (USDC), and Ripple’s native XRP for the Nigerian Naira. The converted funds deposit directly into the user’s linked bank account, bypassing traditional, often cumbersome, exchange processes.
This initiative directly addresses a critical need for reliable off-ramps—services that convert crypto to fiat currency. For Nigeria’s vast and tech-savvy population engaged in the digital economy, a trustworthy crypto cash-out service is a game-changer.
Why Is This Launch a Big Deal for Nigeria?
Nigeria stands as a global leader in cryptocurrency adoption. However, users frequently face challenges when trying to access the real-world value of their digital assets. This new service tackles those pain points head-on.
Speed and Efficiency: Leveraging Ripple’s blockchain technology, transactions are designed for speed, potentially reducing wait times from days to minutes.
Enhanced Accessibility: It simplifies the process for everyday users, not just crypto experts.
Financial Inclusion: It provides an alternative financial gateway, especially for those underbanked by traditional systems.
Market Confidence: Partnerships with established names like Ripple can boost trust in crypto services.
Therefore, this launch is more than a new product; it’s a vital piece of infrastructure for Nigeria’s digital finance ecosystem.
How Does the Ripple-Powered Service Work?
Understanding the mechanics helps users grasp the innovation. The process is streamlined for user convenience:
A user initiates a withdrawal on the RedotPay platform, selecting their cryptocurrency (e.g., BTC, USDC, XRP).
RedotPay’s system, integrated with Ripple Payments, facilitates the secure swap and currency conversion.
The equivalent value in Nigerian Naira is calculated at a transparent rate.
Funds are routed and deposited directly into the user’s pre-verified Nigerian bank account.
This end-to-end integration removes the need for multiple intermediaries, which often increases cost and complexity. The focus is on creating a smooth, reliable crypto cash-out service experience.
What Are the Potential Challenges?
While promising, the service will navigate a complex landscape. Regulatory clarity around cryptocurrencies in Nigeria continues to evolve. The success of this crypto cash-out service will depend on:
Regulatory Harmony: Operating within the guidelines of the Central Bank of Nigeria (CBN) and other financial authorities.
Naira Stability: Managing conversions amidst local currency volatility.
Market Adoption: Convincing a broad user base to trust and utilize the new platform.
Technical Reliability: Ensuring consistent uptime and security against digital threats.
Overcoming these hurdles is crucial for long-term, sustainable growth.
A Compelling Step for Crypto’s Real-World Use
The collaboration between RedotPay and Ripple is a powerful example of blockchain technology solving real-world problems. It moves cryptocurrency beyond trading and speculation into practical, everyday financial utility. For the Nigerian market, it represents a bridge between the innovative digital asset space and the established financial system.
This service could set a precedent for similar rollouts across Africa and other emerging markets. It demonstrates how strategic partnerships can unlock cryptocurrency’s potential for payments and remittances on a massive scale.
To learn more about the latest trends in cryptocurrency adoption and payment solutions, explore our article on key developments shaping the future of blockchain in global finance.
Frequently Asked Questions (FAQs)
Q1: Which cryptocurrencies can I cash out with this service? A: Currently, the service supports Bitcoin (BTC), USD Coin (USDC), and Ripple’s XRP for conversion to Nigerian Naira.
Q2: How long does it take to receive money in my bank account? A: While times may vary, the use of Ripple’s technology aims to make transactions significantly faster than traditional methods, potentially completing in minutes.
Q3: Is this service legal in Nigeria? A: RedotPay has launched this service in partnership with Ripple, suggesting operations within the current regulatory framework. However, users should always stay informed about the latest regulations from the Central Bank of Nigeria.
Q4: Are there limits on how much I can cash out? A: Most financial services have transaction limits for security and compliance. Users should check RedotPay’s official platform for specific details on withdrawal limits and fees.
Q5: How does this compare to using a local crypto exchange? A: This service is integrated directly for cash-out, potentially offering a more streamlined and direct path from crypto to your bank account compared to some multi-step exchange processes.
Q6: Do I need a special type of bank account? A: You will likely need a standard Nigerian Naira bank account that can receive electronic deposits. The specific requirements will be detailed during the account verification process on RedotPay.
Join the Financial Revolution
The launch of this seamless crypto cash-out service is a milestone for practical cryptocurrency use. It empowers individuals with more control over their digital assets. If you found this insight into the future of finance in Nigeria valuable, help spread the word! Share this article on your social media channels to inform your network about this innovative bridge between crypto and everyday banking.
This post Revolutionary Crypto Cash-Out Service Launches in Nigeria via RedotPay and Ripple first appeared on BitcoinWorld.
Imagine converting your Bitcoin directly into your local bank account within minutes. This vision is now a reality in Nigeria, as stablecoin payment firm RedotPay launches a groundbreaking crypto cash-out service powered by Ripple’s technology. This partnership marks a significant leap forward for financial inclusion and cryptocurrency utility in one of Africa’s largest economies.
What Is This New Crypto Cash-Out Service?
RedotPay, in collaboration with Ripple, has introduced a seamless platform built on Ripple Payments. This service allows Nigerian users to effortlessly swap popular cryptocurrencies like Bitcoin (BTC), USD Coin (USDC), and Ripple’s native XRP for the Nigerian Naira. The converted funds deposit directly into the user’s linked bank account, bypassing traditional, often cumbersome, exchange processes.
This initiative directly addresses a critical need for reliable off-ramps—services that convert crypto to fiat currency. For Nigeria’s vast and tech-savvy population engaged in the digital economy, a trustworthy crypto cash-out service is a game-changer.
Why Is This Launch a Big Deal for Nigeria?
Nigeria stands as a global leader in cryptocurrency adoption. However, users frequently face challenges when trying to access the real-world value of their digital assets. This new service tackles those pain points head-on.
Speed and Efficiency: Leveraging Ripple’s blockchain technology, transactions are designed for speed, potentially reducing wait times from days to minutes.
Enhanced Accessibility: It simplifies the process for everyday users, not just crypto experts.
Financial Inclusion: It provides an alternative financial gateway, especially for those underbanked by traditional systems.
Market Confidence: Partnerships with established names like Ripple can boost trust in crypto services.
Therefore, this launch is more than a new product; it’s a vital piece of infrastructure for Nigeria’s digital finance ecosystem.
How Does the Ripple-Powered Service Work?
Understanding the mechanics helps users grasp the innovation. The process is streamlined for user convenience:
A user initiates a withdrawal on the RedotPay platform, selecting their cryptocurrency (e.g., BTC, USDC, XRP).
RedotPay’s system, integrated with Ripple Payments, facilitates the secure swap and currency conversion.
The equivalent value in Nigerian Naira is calculated at a transparent rate.
Funds are routed and deposited directly into the user’s pre-verified Nigerian bank account.
This end-to-end integration removes the need for multiple intermediaries, which often increases cost and complexity. The focus is on creating a smooth, reliable crypto cash-out service experience.
What Are the Potential Challenges?
While promising, the service will navigate a complex landscape. Regulatory clarity around cryptocurrencies in Nigeria continues to evolve. The success of this crypto cash-out service will depend on:
Regulatory Harmony: Operating within the guidelines of the Central Bank of Nigeria (CBN) and other financial authorities.
Naira Stability: Managing conversions amidst local currency volatility.
Market Adoption: Convincing a broad user base to trust and utilize the new platform.
Technical Reliability: Ensuring consistent uptime and security against digital threats.
Overcoming these hurdles is crucial for long-term, sustainable growth.
A Compelling Step for Crypto’s Real-World Use
The collaboration between RedotPay and Ripple is a powerful example of blockchain technology solving real-world problems. It moves cryptocurrency beyond trading and speculation into practical, everyday financial utility. For the Nigerian market, it represents a bridge between the innovative digital asset space and the established financial system.
This service could set a precedent for similar rollouts across Africa and other emerging markets. It demonstrates how strategic partnerships can unlock cryptocurrency’s potential for payments and remittances on a massive scale.
To learn more about the latest trends in cryptocurrency adoption and payment solutions, explore our article on key developments shaping the future of blockchain in global finance.
Frequently Asked Questions (FAQs)
Q1: Which cryptocurrencies can I cash out with this service? A: Currently, the service supports Bitcoin (BTC), USD Coin (USDC), and Ripple’s XRP for conversion to Nigerian Naira.
Q2: How long does it take to receive money in my bank account? A: While times may vary, the use of Ripple’s technology aims to make transactions significantly faster than traditional methods, potentially completing in minutes.
Q3: Is this service legal in Nigeria? A: RedotPay has launched this service in partnership with Ripple, suggesting operations within the current regulatory framework. However, users should always stay informed about the latest regulations from the Central Bank of Nigeria.
Q4: Are there limits on how much I can cash out? A: Most financial services have transaction limits for security and compliance. Users should check RedotPay’s official platform for specific details on withdrawal limits and fees.
Q5: How does this compare to using a local crypto exchange? A: This service is integrated directly for cash-out, potentially offering a more streamlined and direct path from crypto to your bank account compared to some multi-step exchange processes.
Q6: Do I need a special type of bank account? A: You will likely need a standard Nigerian Naira bank account that can receive electronic deposits. The specific requirements will be detailed during the account verification process on RedotPay.
Join the Financial Revolution
The launch of this seamless crypto cash-out service is a milestone for practical cryptocurrency use. It empowers individuals with more control over their digital assets. If you found this insight into the future of finance in Nigeria valuable, help spread the word! Share this article on your social media channels to inform your network about this innovative bridge between crypto and everyday banking.
This post Revolutionary Crypto Cash-Out Service Launches in Nigeria via RedotPay and Ripple first appeared on BitcoinWorld.
Bitcoin's current price is around $86,600, with a 0.16% increase in the last 24 hours .
For today's prediction, analysts have mixed views:
- *Bearish Outlook*: Some predict Bitcoin may drop to $80,000-$85,000 due to low liquidity, leveraged sell-offs, and macroeconomic uncertainty.
- *Bullish Potential*: Others see potential for a rebound, citing strong demand at current levels and possible institutional buying if it holds above $86,000.
Key levels to watch:
- Support: $80,400-$83,680
- Resistance: $91,570-$97,100
Keep in mind that cryptocurrency markets are highly volatile, and predictions are subject to change.
#bit
#BTC86kJPShock BTC
For today's prediction, analysts have mixed views:
- *Bearish Outlook*: Some predict Bitcoin may drop to $80,000-$85,000 due to low liquidity, leveraged sell-offs, and macroeconomic uncertainty.
- *Bullish Potential*: Others see potential for a rebound, citing strong demand at current levels and possible institutional buying if it holds above $86,000.
Key levels to watch:
- Support: $80,400-$83,680
- Resistance: $91,570-$97,100
Keep in mind that cryptocurrency markets are highly volatile, and predictions are subject to change.
#bit
#BTC86kJPShock BTC
$ID Stabilizing After Sharp Drop
Trade Setup
Entry: 0.0732 – 0.0738
TP: 0.0750 / 0.0762 / 0.0775
SL: 0.0717
IDUSDT Perp: 0.07374
$ID is building support after a sharp decline on the 1H chart. If buyers defend 0.073 strongly, a quick rebound toward the 0.076 area and higher levels is in play.
#ID #Bit #TrumpTariffs #IPOWave #IPOWave
Trade Setup
Entry: 0.0732 – 0.0738
TP: 0.0750 / 0.0762 / 0.0775
SL: 0.0717
IDUSDT Perp: 0.07374
$ID is building support after a sharp decline on the 1H chart. If buyers defend 0.073 strongly, a quick rebound toward the 0.076 area and higher levels is in play.
#ID #Bit #TrumpTariffs #IPOWave #IPOWave
$BTC Breakout Pressure Building on 15M Chart
Trade Setup:
Entry: 91,150 – 91,250
TP: 92,300
SL: 90,600
BTC
91,071.27
+0.44%
$BTC is showing strong upward pressure as it breaks above short-term consolidation, forming a clean ascending structure. If buyers hold this level, the price can quickly push toward the 92,300 zone in the next move.
#BTC #Bit _Guru
Trade Setup:
Entry: 91,150 – 91,250
TP: 92,300
SL: 90,600
BTC
91,071.27
+0.44%
$BTC is showing strong upward pressure as it breaks above short-term consolidation, forming a clean ascending structure. If buyers hold this level, the price can quickly push toward the 92,300 zone in the next move.
#BTC #Bit _Guru
$RLC
TP Hit Beautifully 🎯🔥
Our $RLC signal played out perfectly — target hit with a clean move just as expected. 🚀 Every setup is crafted with precision, and wins like this show the power of staying disciplined. More accurate and profitable signals are on the way… stay with me and don’t miss the next opportunity. 💯✨
#RLC #Bit _Guru
TP Hit Beautifully 🎯🔥
Our $RLC signal played out perfectly — target hit with a clean move just as expected. 🚀 Every setup is crafted with precision, and wins like this show the power of staying disciplined. More accurate and profitable signals are on the way… stay with me and don’t miss the next opportunity. 💯✨
#RLC #Bit _Guru
Here’s a short, thrilling, human-sounding post with all your details included:
---
🚀 $SHIB Sharp Momentum Surge!
SHIB just fired off a clean vertical blast on the 15M, showing real strength from buyers. As long as price holds above the 0.0000000890 support, bulls look ready to push this higher.
📌 Trade Setup
Entry: 0.0000000888 – 0.0000000900
TP: 0.0000000915 / 0.0000000925
SL: 0.0000000875
Current price: 0.00000901 (+4.88%)
SHIB is heating up — momentum is on fire, and continuation toward 0.0000000920+ is absolutely on the table. 🔥
#SHIB #bit _Guru
---
🚀 $SHIB Sharp Momentum Surge!
SHIB just fired off a clean vertical blast on the 15M, showing real strength from buyers. As long as price holds above the 0.0000000890 support, bulls look ready to push this higher.
📌 Trade Setup
Entry: 0.0000000888 – 0.0000000900
TP: 0.0000000915 / 0.0000000925
SL: 0.0000000875
Current price: 0.00000901 (+4.88%)
SHIB is heating up — momentum is on fire, and continuation toward 0.0000000920+ is absolutely on the table. 🔥
#SHIB #bit _Guru
1. Huge Institutional Money Coming In
U.S. $SOL
Solana ETFs are getting massive inflows — over $400M+ in the past weeks.
Big investors (banks, funds) are buying $SOL through these ETFs, which pushes demand up.
2. Staking ETF = Extra Attraction
The new Bitwise Solana Staking ETF (BSOL) gives investors staking rewards.
This makes Solana more profitable than most crypto ETFs → more buyers → price up.
3. Ecosystem Growth
Solana’s network activity is rising:
DeFi apps growing
Big platforms moving to Solana
TVL (total value locked) increasing
This signals strong real usage.
4. Faster, Cheaper Blockchain
Market sentiment is shifting toward fast and low-fee chains, and Solana is leading this category — attracting retail and institutional interest.
5. Rotation From BTC/ETH to SOL
Bitcoin and Ethereum ETFs recently had outflows, while Solana got inflows, meaning investors are rotating money from big coins into altcoins — especially SOL. $SOL
#ADPJobsSurge ✨ #solana #bit #ProjectCrypto #USStocksForecast2026
U.S. $SOL
Solana ETFs are getting massive inflows — over $400M+ in the past weeks.
Big investors (banks, funds) are buying $SOL through these ETFs, which pushes demand up.
2. Staking ETF = Extra Attraction
The new Bitwise Solana Staking ETF (BSOL) gives investors staking rewards.
This makes Solana more profitable than most crypto ETFs → more buyers → price up.
3. Ecosystem Growth
Solana’s network activity is rising:
DeFi apps growing
Big platforms moving to Solana
TVL (total value locked) increasing
This signals strong real usage.
4. Faster, Cheaper Blockchain
Market sentiment is shifting toward fast and low-fee chains, and Solana is leading this category — attracting retail and institutional interest.
5. Rotation From BTC/ETH to SOL
Bitcoin and Ethereum ETFs recently had outflows, while Solana got inflows, meaning investors are rotating money from big coins into altcoins — especially SOL. $SOL
#ADPJobsSurge ✨ #solana #bit #ProjectCrypto #USStocksForecast2026
1. Huge Institutional Money Coming In
U.S. $SOL
Solana ETFs are getting massive inflows — over $400M+ in the past weeks.
Big investors (banks, funds) are buying $SOL through these ETFs, which pushes demand up.
2. Staking ETF = Extra Attraction
The new Bitwise Solana Staking ETF (BSOL) gives investors staking rewards.
This makes Solana more profitable than most crypto ETFs → more buyers → price up.
3. Ecosystem Growth
Solana’s network activity is rising:
DeFi apps growing
Big platforms moving to Solana
TVL (total value locked) increasing
This signals strong real usage.
4. Faster, Cheaper Blockchain
Market sentiment is shifting toward fast and low-fee chains, and Solana is leading this category — attracting retail and institutional interest.
5. Rotation From BTC/ETH to SOL
Bitcoin and Ethereum ETFs recently had outflows, while Solana got inflows, meaning investors are rotating money from big coins into altcoins — especially SOL. $SOL #ADPJobsSurge✨ #solana #bit #USStocksForecast2026
U.S. $SOL
Solana ETFs are getting massive inflows — over $400M+ in the past weeks.
Big investors (banks, funds) are buying $SOL through these ETFs, which pushes demand up.
2. Staking ETF = Extra Attraction
The new Bitwise Solana Staking ETF (BSOL) gives investors staking rewards.
This makes Solana more profitable than most crypto ETFs → more buyers → price up.
3. Ecosystem Growth
Solana’s network activity is rising:
DeFi apps growing
Big platforms moving to Solana
TVL (total value locked) increasing
This signals strong real usage.
4. Faster, Cheaper Blockchain
Market sentiment is shifting toward fast and low-fee chains, and Solana is leading this category — attracting retail and institutional interest.
5. Rotation From BTC/ETH to SOL
Bitcoin and Ethereum ETFs recently had outflows, while Solana got inflows, meaning investors are rotating money from big coins into altcoins — especially SOL. $SOL #ADPJobsSurge✨ #solana #bit #USStocksForecast2026
1. Huge Institutional Money Coming In
U.S. $SOL
Solana ETFs are getting massive inflows — over $400M+ in the past weeks.
Big investors (banks, funds) are buying $SOL through these ETFs, which pushes demand up.
2. Staking ETF = Extra Attraction
The new Bitwise Solana Staking ETF (BSOL) gives investors staking rewards.
This makes Solana more profitable than most crypto ETFs → more buyers → price up.
3. Ecosystem Growth
Solana’s network activity is rising:
DeFi apps growing
Big platforms moving to Solana
TVL (total value locked) increasing
This signals strong real usage.
4. Faster, Cheaper Blockchain
Market sentiment is shifting toward fast and low-fee chains, and Solana is leading this category — attracting retail and institutional interest.
5. Rotation From BTC/ETH to SOL
Bitcoin and Ethereum ETFs recently had outflows, while Solana got inflows, meaning investors are rotating money from big coins into altcoins — especially SOL. $SOL #ADPJobsSurge✨ #solana #bit
U.S. $SOL
Solana ETFs are getting massive inflows — over $400M+ in the past weeks.
Big investors (banks, funds) are buying $SOL through these ETFs, which pushes demand up.
2. Staking ETF = Extra Attraction
The new Bitwise Solana Staking ETF (BSOL) gives investors staking rewards.
This makes Solana more profitable than most crypto ETFs → more buyers → price up.
3. Ecosystem Growth
Solana’s network activity is rising:
DeFi apps growing
Big platforms moving to Solana
TVL (total value locked) increasing
This signals strong real usage.
4. Faster, Cheaper Blockchain
Market sentiment is shifting toward fast and low-fee chains, and Solana is leading this category — attracting retail and institutional interest.
5. Rotation From BTC/ETH to SOL
Bitcoin and Ethereum ETFs recently had outflows, while Solana got inflows, meaning investors are rotating money from big coins into altcoins — especially SOL. $SOL #ADPJobsSurge✨ #solana #bit
See original
This analysis is still valid #bit
Yesterday Friday was a green candle? 04/10/2024
And today is a red candle to return to the resistance line? 05/10/2024
If the resistance line is broken tomorrow 06/10/2024??
The path is only to 58K or 56K to be the final support line for Bitcoin
-------------------
Be careful, this is not a recommendation, but a personal analysis
The market is volatile but tends to decline
Yesterday Friday was a green candle? 04/10/2024
And today is a red candle to return to the resistance line? 05/10/2024
If the resistance line is broken tomorrow 06/10/2024??
The path is only to 58K or 56K to be the final support line for Bitcoin
-------------------
Be careful, this is not a recommendation, but a personal analysis
The market is volatile but tends to decline
In my posts yesterday and the day before yesterday? #bit
I mentioned that we fell as a result of the resistance of the triangle of confusion??
And we reached a resistance line and a struggle between the whales and the bulls?
When did I mention that the line is always in favor of the bulls? And in the event of a candle closing below the struggle line in favor of the bulls?
We are on the verge of falling to 58K so that the bulls calm down as a result of the large liquidity that was pumped previously? And most likely it will be at the 58K line, then the two samples returned to enjoy and rise strongly over 3 or 4 days to the 68K area and at the end of the week it is expected to reach an area between 66K and 68K
-------------
{future}(BTCUSDT)
Not a recommendation, be careful, you know your investment and your ability to bear capital
I mentioned that we fell as a result of the resistance of the triangle of confusion??
And we reached a resistance line and a struggle between the whales and the bulls?
When did I mention that the line is always in favor of the bulls? And in the event of a candle closing below the struggle line in favor of the bulls?
We are on the verge of falling to 58K so that the bulls calm down as a result of the large liquidity that was pumped previously? And most likely it will be at the 58K line, then the two samples returned to enjoy and rise strongly over 3 or 4 days to the 68K area and at the end of the week it is expected to reach an area between 66K and 68K
-------------
{future}(BTCUSDT)
Not a recommendation, be careful, you know your investment and your ability to bear capital
See original
#arbitrum #btc #bit Arbitrum has an important place among Ethereum's Layer 2 solutions. Arbitrum, which is traded at $ 1.19, makes a great contribution to DeFi projects with its low-cost and fast transaction capacity. These features make Arbitrum popular among users and developers. Do you think it should be bought? It is a risky investment. How much is in your wallet? I will buy it today. You can write your recommendations$ARB
See original
I think #Bitcoin❗ Will Reach 70 Thousand Dollars This Year and Then It Will Experience a Small Fall, It Will Fall Between 40-50 Thousand Dollars Then #altocoins Even If It Is Slightly Affected by This Situation #bit It Will Suddenly Rise and At First Stage It Will Go To 80 Thousand Dollars Then It Will Go Towards The Top 🥹 This is My Prediction. direction
$SOL
$ETH
$SOL
$ETH
BTC remains at $65K while GBTC outflows reach their highest level ever.
Despite experiencing the highest-ever outflows from Grayscale Bitcoin Trust (GBTC), Bitcoin remains resilient above the $65,000 mark. GBTC outflows are attributed to elevated fees and increased competition from ETFs. Bitcoin, down by 4%, continues to trade above $65,000, with GBTC witnessing a record outflow of $643 million on March 18, as per BitMEX Research data. Additionally, data from investment firm Farside indicates a net outflow from bitcoin ETFs totaling $154 million. Among these, the iShares bitcoin ETF (IBIT) recorded the highest inflow of $451.5 million, while other products saw approximately $36.7 million in inflows.
Since the introduction of bitcoin exchange-traded funds (ETFs) earlier this year, notable outflows have been observed from GBTC, which recently transitioned into an ETF, primarily due to its elevated fees. This selling activity exerts downward pressure on the price of bitcoin.
According to a recent report from CryptoQuant, selling pressure is further compounded by short-term bitcoin holders capitalizing on recent gains.
Over the past week, bitcoin has experienced an 8.5% decline, as per CoinDesk Indices data, although it retains a 27% increase over the past 30 days.
#bit #BTC🔥🔥🔥🔥 #DOGE🔥🔥 #SOL🔥🔥🔥🔥 #SHIBA🔥
Despite experiencing the highest-ever outflows from Grayscale Bitcoin Trust (GBTC), Bitcoin remains resilient above the $65,000 mark. GBTC outflows are attributed to elevated fees and increased competition from ETFs. Bitcoin, down by 4%, continues to trade above $65,000, with GBTC witnessing a record outflow of $643 million on March 18, as per BitMEX Research data. Additionally, data from investment firm Farside indicates a net outflow from bitcoin ETFs totaling $154 million. Among these, the iShares bitcoin ETF (IBIT) recorded the highest inflow of $451.5 million, while other products saw approximately $36.7 million in inflows.
Since the introduction of bitcoin exchange-traded funds (ETFs) earlier this year, notable outflows have been observed from GBTC, which recently transitioned into an ETF, primarily due to its elevated fees. This selling activity exerts downward pressure on the price of bitcoin.
According to a recent report from CryptoQuant, selling pressure is further compounded by short-term bitcoin holders capitalizing on recent gains.
Over the past week, bitcoin has experienced an 8.5% decline, as per CoinDesk Indices data, although it retains a 27% increase over the past 30 days.
#bit #BTC🔥🔥🔥🔥 #DOGE🔥🔥 #SOL🔥🔥🔥🔥 #SHIBA🔥
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