Did Grayscale push Bitcoin back up to the $40K mark?

Within 48 hours of Grayscale reopening its services to new investors on January 13, Bitcoin’s price shot up by almostd 20%, to once again hover just under the $40,000 mark.  During the same period, the institutional investment firm added 4,618 BTC to its portfolio at a current value of $182 million. Including last quarter’s intake of $3.3 billion, which is mostly BTC, Grayscale’s crypto portfolio sits at $27.6 billion. Bitcoin isn’t the only coin to see strong support since January 13 with the entire crypto market adding $137 billion to…

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Bitcoin price rally to $37,850, signals that bulls intend to reclaim $40K

Bitcoin (BTC) price broke through the $35,000 resistance and appears to be stepping into a new range that would see the price trade between $38,000 to $40,000. Today’s recovery from the $34,000 level also appers to have invalidated what looked to be a bearish head and shoulders pattern forming on the 4-hour timeframe.  BTC/USDT 4-hour chart. Source: TradingView Reclaiming the $36,000 level as support may also assist with squashing the infantile narrative that Bitcoin price was entering a new bear market after this week’s 26.5% plunge shaved off $200 billion…

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Bitcoin whales are profiting as ‘weak hands’ sell BTC throughout $40K bull run

Bitcoin (BTC) is changing hands fast after its drop to $32,000 and only millionaires are winning, data shows. Statistics governing wallet balances from Glassnode on Jan. 11 reveal that the main investors “buying the dip” are those with a balance in excess of 1,000 BTC ($36 million). “Millionaire” wallets keep growing Compiled by Elias Simos, protocol specialist at blockchain infrastructure provider Bison Trails, the numbers suggest that the wealthy have been profiting from Bitcoin being sold by smaller investors throughout December and January. “Addresses with more than 1k $BTC continue…

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Altcoins sell-off as traders jostle to hold Bitcoin price above $40K

Altcoin’s recent gains have come under pressure as Bitcoin (BTC) price dropped to retest lower support levels after reaching a new all-time high at $41,940.  Following Bitcoin’s Jan. 7 push above $40,000, the top cryptocurrency faced selling pressure that saw the price dip as low as $36,600. As has been the case throughout the current rally, investors quickly purchased the dip and BTC price rallied to a new all time high at $41,940 on Jan.8. Market sentiment continues to improve as institutional investor inflow to cryptocurrencies continues to rise. As…

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