{"id":597597,"date":"2024-03-13T10:20:28","date_gmt":"2024-03-13T10:20:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=597597"},"modified":"2024-03-13T09:36:49","modified_gmt":"2024-03-13T09:36:49","slug":"bitcoin-hodlers-eye-long-term-520-million-btc-shifted-to-cold-storage","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-hodlers-eye-long-term-520-million-btc-shifted-to-cold-storage\/","title":{"rendered":"Bitcoin Hodlers Eye Long Term: $520 Million BTC Go To Cold Storage"},"content":{"rendered":"<p>Bitcoin (BTC) danced into uncharted realms this week, breaking barriers with a triumphant surge that pushed its value beyond the $73,000 mark.<\/p>\n<p>The cryptocurrency world, once again, finds itself in the midst of a thrilling price discovery phase, propelled by an amalgamation of bullish indicators and a notable shift in investor sentiments.<\/p>\n<p>Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano-ada-price-alert-analyst-predicts-60-rally-in-next-7-days\/\"> Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days<\/a><\/p>\n<h2><strong>Big Players Dominate The Crypto Arena<\/strong><\/h2>\n<p>This week&#8217;s narrative unfolded on a stage dominated by two juggernauts of the financial realm \u2013<a href=\"https:\/\/bitcoinist.com\/blackrock-bitcoin-etf-gobbles-up-nearly-196000-btc\/\" rel=\"nofollow\"> BlackRock and MicroStrategy.<\/a> BlackRock, the undisputed titan of asset management, sent ripples through the market by filing with the SEC, outlining tentative plans to incorporate spot Bitcoin ETFs into its Global Allocation Fund.<\/p>\n<p>Although in its infancy, this move has ignited hopes for heightened demand, especially through BlackRock&#8217;s IBIT ETF, already wielding a substantial 204,000 BTC.<\/p>\n<p>Enter MicroStrategy, the steadfast evangelist of Bitcoin strategies. This corporate behemoth poured more fuel into the already blazing fire by revealing the acquisition of an additional 12,000 BTC.<\/p>\n<p>This move propelled MicroStrategy&#8217;s total corporate Bitcoin holdings to an awe-inspiring 205,000. Such maneuvers by industry giants underscore the growing acceptance of Bitcoin as a legitimate and influential asset class.<\/p>\n<p>While headlines may be dominated by institutional power moves, peering into the intricate web of on-chain data reveals the fascinating tapestry of investor conviction.<\/p>\n<pre style=\"text-align: center\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-597603\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?resize=1024%2C288\" alt=\"\" width=\"1024\" height=\"288\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?w=1205 1205w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_957842.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\">Source: IntoTheBlock<\/pre>\n<h2><strong>$520 Million In Bitcoin In Transit<\/strong><\/h2>\n<p>IntoTheBlock&#8217;s exchange netflow metric showcased a significant outflow of 4,470 BTC on March 11th.\u00a0This substantial move, valued at over $520 million, saw coins making a pilgrimage from exchange wallets to cold storage.<\/p>\n<p>The implication is clear \u2013 investors, despite reaching record highs, are playing the long game, stashing their digital treasures in cold storage rather than opting for immediate profits.<\/p>\n<p>This strategic move, coupled with a surge in demand, paints a bullish picture of supply and demand dynamics.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/JPlkeuT5\/\" width=\"2475\" height=\"1163\"><\/p>\n<pre style=\"text-align: center\">Total crypto market cap at $2.6 trillion on the daily chart: <a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<p>Drawing parallels from the pages of history, the recent exodus from exchanges echoes a similar event on February 27th.<\/p>\n<p>On that day, a netflow of 8,050 BTC correlated with a breathtaking 26% surge in prices within 48 hours. If this historical rhyming persists, the recent outflow might just be the wind beneath Bitcoin&#8217;s wings, propelling it to conquer the $75,000 resistance level in the imminent days.<\/p>\n<p>As the stage is set for Bitcoin&#8217;s next act, technical indicators join the ensemble, singing harmoniously in the chorus of a potential breakout.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-597607\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?resize=1024%2C365\" alt=\"\" width=\"1024\" height=\"365\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?w=1205 1205w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/03\/a_56c2a6.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<pre style=\"text-align: center\">\u00a0GIOM data. Source: <a href=\"https:\/\/app.intotheblock.com\/coin\/BTC\/deep-dive?group=financials&amp;chart=inAndOut\" target=\"_blank\" data-pswp-width=\"3200\" data-pswp-height=\"1126\" rel=\"noreferrer noopener nofollow\">IntoTheBlock<\/a><\/pre>\n<h3><strong>Enjoying Profits<\/strong><\/h3>\n<p>IntoTheBlock&#8217;s &#8220;Global In\/Out of the Money&#8221; chart offers a visual feast, showcasing that in this era of Bitcoin&#8217;s price discovery, nearly all of the 52 million holder addresses are now enjoying profits. This absence of selling pressure, combined with the rising institutional tide, paints a canvas of explosive potential.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/crypto-fever-bitcoin-smashes-records-approaching-73000-milestone\/\"> Crypto Fever: Bitcoin Smashes Records, Approaching $73,000 Milestone<\/a><\/div>\n<p>While the bulls eye the lofty target of $75,000, technical analysis points to a potential support station at $69,000.<\/p>\n<p>This zone, a fortress where over 6.6 million holders acquired nearly 3 million BTC, could stand as a formidable psychological barricade in the face of any price pullback.<\/p>\n<p>At the time of writing, Bitcoin is <a href=\"https:\/\/www.coingecko.com\/\" rel=\"nofollow\">fast approaching the highly-coveted $74K<\/a> level, trading at $73,529, up 2% and 10% in the daily and weekly timeframes, data by Coingecko shows.<\/p>\n<p><em>Featured image from Unsplash, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) danced into uncharted realms this week, breaking barriers with a triumphant surge that pushed its value beyond the $73,000 mark. The cryptocurrency world, once again, finds itself in the midst of a thrilling price discovery phase, propelled by an amalgamation of bullish indicators and a notable shift in investor sentiments. Related Reading: Cardano (ADA) Price Alert: Analyst Predicts 60% Rally In Next 7 Days Big Players Dominate The Crypto Arena This week&#8217;s narrative unfolded on a stage dominated by two juggernauts of the financial realm \u2013 BlackRock and MicroStrategy. BlackRock, the undisputed titan of asset management, sent ripples through the market by filing with the SEC, outlining tentative plans to incorporate spot Bitcoin ETFs into its Global Allocation Fund. Although in its infancy, this move has ignited hopes for heightened demand, especially through BlackRock&#8217;s IBIT ETF, already wielding a substantial 204,000 BTC. Enter MicroStrategy, the steadfast evangelist of Bitcoin strategies. This corporate behemoth poured more fuel into the already blazing fire by revealing the acquisition of an additional 12,000 BTC. This move propelled MicroStrategy&#8217;s total corporate Bitcoin holdings to an awe-inspiring 205,000. Such maneuvers by industry giants underscore the growing acceptance of Bitcoin as a legitimate and influential asset class. While headlines may be dominated by institutional power moves, peering into the intricate web of on-chain data reveals the fascinating tapestry of investor conviction. Source: IntoTheBlock $520 Million In Bitcoin In Transit IntoTheBlock&#8217;s exchange netflow metric showcased a significant outflow of 4,470 BTC on March 11th.\u00a0This substantial move, valued at over $520 million, saw coins making a pilgrimage from exchange wallets to cold storage. The implication is clear \u2013 investors, despite reaching record highs, are playing the long game, stashing their digital treasures in cold storage rather than opting for immediate profits. This strategic move, coupled with a surge in demand, paints a bullish picture of supply and demand dynamics. Total crypto market cap at $2.6 trillion on the daily chart: TradingView.com Drawing parallels from the pages of history, the recent exodus from exchanges echoes a similar event on February 27th. On that day, a netflow of 8,050 BTC correlated with a breathtaking 26% surge in prices within 48 hours. If this historical rhyming persists, the recent outflow might just be the wind beneath Bitcoin&#8217;s wings, propelling it to conquer the $75,000 resistance level in the imminent days. As the stage is set for Bitcoin&#8217;s next act, technical indicators join the ensemble, singing harmoniously in the chorus of a potential breakout. \u00a0GIOM data. Source: IntoTheBlock Enjoying Profits IntoTheBlock&#8217;s &#8220;Global In\/Out of the Money&#8221; chart offers a visual feast, showcasing that in this era of Bitcoin&#8217;s price discovery, nearly all of the 52 million holder addresses are now enjoying profits. This absence of selling pressure, combined with the rising institutional tide, paints a canvas of explosive potential. Related Reading: Crypto Fever: Bitcoin Smashes Records, Approaching $73,000 Milestone While the bulls eye the lofty target of $75,000, technical analysis points to a potential support station at $69,000. This zone, a fortress where over 6.6 million holders acquired nearly 3 million BTC, could stand as a formidable psychological barricade in the face of any price pullback. At the time of writing, Bitcoin is fast approaching the highly-coveted $74K level, trading at $73,529, up 2% and 10% in the daily and weekly timeframes, data by Coingecko shows. Featured image from Unsplash, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":597612,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,1119,6664],"class_list":["post-597597","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-btc","tag-crypto"],"acf":[],"yoast_head":"\n<title>Bitcoin Hodlers Eye Long Term: $520 Million BTC Moved<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) danced into uncharted realms this week, breaking barriers with a triumphant surge that pushed its value beyond the $73,000 mark. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. 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