Here’s why IOST, Horizen (ZEN) and Avalanche (AVAX) surged as Bitcoin crashed

Bitcoin’s (BTC) recent plunge could have been caused due to profit-booking by institutional investors, according to a report by crypto fund manager CoinShares. The report noted a sharp drop in institutional inflows during the first week of the new year and weekly outflows from several crypto investment products. Crypto market data daily view. Source: Coin360 While the recent 28% decline may have scared some new investors, Bitcoin HODLers were likely unfazed as they’ve encountered six larger corrections during Bitcoin’s massive bull run in 2017. Therefore, describing a 20% fall as a…

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Bitcoin price surged to $24.6K, but direction of next rally is unclear

The price of Bitcoin surpassed its all-time high on Christmas, reaching $24,681 on Binance. Following BTC’s strong rally, traders and analysts are exploring short-term bear and bull cases.  The market sentiment around Bitcoin remains overwhelmingly positive, but there are some concerns put forth by analysts in the foreseeable future and as a result, the next move is not a clear-cut one. The funding rate of Bitcoin futures Bitcoin (BTC) has rallied above $24,600 with a relatively small short squeeze. In the past four hours, only $95 million worth of short contracts…

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Japanese Exchange Holdings of Bitcoin Surged During the Pandemic

The Japan Virtual and Crypto Assets Exchange Association (JVCEA) — a self-regulatory organization for the crypto industry in Japan — recently published a report on Japanese holdings of major cryptocurrencies in March.  169,376 BTC was held on Japanese exchanges, up more than 11% from the previous month. XRP was up 6.4% to 3.2 billion XRP. Ether was up more than 5.7% to 1.14 million ETH.  Moreover, the number of Bitcoin Cash (BCH), Monacoin (MONA), Litecoin (LTC), and NEM (XEM) also increased slightly in March.  The volume of Bitcoin spot trading was 617.3…

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