#BitcoinDunyamiz The analyst emphasizes that fundamental demand has increased due to corporate holdings, financial transactions, and spot ETFs, but this usage remains small compared to the overall supply. Spot ETFs, he says, still account for only about 6% of all Bitcoin in circulation. He adds that Bitcoin continues to move along with the 'wave of risk assets,' outperforming during rallies but falling harder when liquidity tightens. A break below the recent low of $81,000 will be a 'gradually negative' factor that could trigger new technical selling and signal further stress in.$BTC
#BitEagleNews Bitcoin recovered on Tuesday after a sharp sell-off in the previous session, during which the world's largest cryptocurrency fell below $84,000, as a wave of risk aversion resumed in early December, hitting digital assets. The decline caught traders off guard, occurring just a few days after Bitcoin recovered from levels close to $80,000 at the end of last week. According to the latest data, the world's largest cryptocurrency was trading 2.7% higher, at a price of $88,500 as of 17:19 MSK. On Monday, it fell more than 7% — below $84,000. The decline of Bitcoin in early December amid new panic The drop on Monday marked the latest continuation of the downward trend that dominated in November when Bitcoin posted its worst monthly results in over four years, while spot Bitcoin ETFs recorded significant outflows. Sentiments continued to weigh on cryptocurrency markets, heightening concerns that institutional demand remains unstable. Reports indicated that the rapid accumulation of whale inflows on major exchanges, along with algorithmic selling, helped accelerate the decline. #BitEagleNews
Recently, Salvadoran officials distributed 6,274 BTC owned by the state worth $698.88 across 14 crypto wallets, explaining this step as an effort to increase security and reduce the risk of theft of all coins using quantum computers. However, analyst Jacob Kindj believes that the country's government transferred bitcoins to several crypto vaults for subsequent sale. If this hypothesis is confirmed, the authorities will be able to invest the proceeds in gold.#BTC
On September 4, the country's central bank announced the purchase of 13,999 ounces of precious metal worth about $50 million. Currently, the state holds 58,105 ounces of gold valued at $207 million. Since the beginning of the year, the XAU rate has increased by 35.55%, and on September 3, the asset price reached a new peak at $3,579. However, the Salvadoran central bank was not afraid to purchase gold at such a high cost and did so for the first time since 1990.
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