Binance’s Bitcoin holdings have reached their lowest point since January this year, according to CryptoQuant. The decrease in holdings has been steady since last August and is attributed to investors withdrawing Bitcoin from the exchange for short-term sales.
The rise in expectations for long-term Bitcoin growth suggests that investors are taking a cautious approach, instead of buying up more Bitcoin. This trend indicates a possible shift in investor sentiment, with some predicting a “Santa Rally” in the market.
As the US space company Planetary Resources buys $21 million worth of Bitcoin, it highlights the growing demand for the cryptocurrency. Meanwhile, Binance’s futures buy volume has increased, suggesting that investors are betting on a potential price rise. However, the New York Stock Market Briefing reported mixed results, with only Apple recording record highs.
The dollar-won exchange rate is also breaking out, with predictions of a possible 1500 won. This news comes as the impeachment situation continues to unfold in South Korea. In related news, Choi Sang-mok has urged reconsideration of the Korean impeachment process.
Source: https://bloomingbit.io/en/feed/news/80640