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Bitcoin price is down today as investors expect the Federal Reserve to raise rates and crypto whales send record amounts of BTC to exchanges.
The latest price moves in crypto markets in context for July 24, 2023.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
One analyst pointed out the $27,000 level could be a short-term target for bitcoin amid the lack of positive news.
The balance kept in addresses that hold coins for at least 155 days has increased by $1.87 billion this month.
XRP price is down today, like other top crypto assets, as traders anticipate a Federal Reserve rate hike this week.
One token zoomed 1,200% even though its related project closed in May, data shows.
Bitcoin whales account for the most exchange inflows volumewise since June 2022 as short-term holders become increasingly active.
The highly anticipated project co-founded by OpenAI's Sam Altman launched its token on Monday.
The spot market is in the driver's seat as perpetual futures open interest to market cap ratio remains low, one observer said.
- 13:56Data: BGB's market value has risen to 25th place in the cryptocurrency rankings, currently reported at 7.43 billion US dollarsOn December 25, according to CoinMarketCap data, BGB's market value rose to 25th place in the cryptocurrency rankings, temporarily reported at 7.43 billion US dollars. BGB briefly touched 5.79 USDT, now quoted at 5.78 USDT, up nearly 18.49% in the last 24 hours and continues to hit new historical highs.
- 13:51BlackRock: More focused on providing customers with Bitcoin and Ethereum ETFsJay Jacobs, the head of US Thematic and Active ETFs at BlackRock, stated that for Bitcoin, especially Ethereum, we are indeed just at the tip of the iceberg. Compared to launching new altcoin ETFs, BlackRock's current clients only hold a small portion of Bitcoin and Ethereum exchange-traded funds IBIT and ETHA. Therefore this is our main focus.
- 13:46MicroStrategy Founder: There's no better Christmas gift than BTCChainCatcher news, MicroStrategy founder Michael Saylor posted on X platform saying that there is no better Christmas gift than BTC.
