Strong Buying Pressure In Binance Futures, Bitcoin Outflows, And MicroStrategy’s Growing BTC Holdings Signal Positive Market Sentiment
The post Strong Buying Pressure In Binance Futures, Bitcoin Outflows, And MicroStrategy’s Growing BTC Holdings Signal Positive Market Sentiment appeared on BitcoinEthereumNews.com.
The Binance futures market has recently witnessed the strongest buying pressure since September of last year, with notable interest not only in Bitcoin ($BTC) but also in Ethereum ($ETH). This robust activity points to increased market confidence in these digital assets. Strong buying momentum has emerged from Binance futures whales “Recently, the strongest buying pressure since last September has appeared in Binance futures market… The same pattern is emerging not only in $BTC but also in $ETH.” – By @mignoletkr Link 👇… pic.twitter.com/9aXYGMg4HV — CryptoQuant.com (@cryptoquant_com) November 1, 2024 Adding to this momentum, analytics platform Glassnode reported a substantial surge in Bitcoin outflows from exchanges within the last 48 hours, indicating a significant shift toward cold storage. This trend reflects a heightened “hold” sentiment among investors, suggesting a positive long-term outlook for Bitcoin as more investors choose to safeguard their assets off-exchange. Glassnode reports a surge in #Bitcoin outflows from exchanges over the past 48 hours, suggesting a shift to cold storage. This trend highlights robust holding sentiment and paints a bright long-term future for Bitcoin. pic.twitter.com/NcvSv1DGWJ — Kyledoops (@kyledoops) November 1, 2024 Microstrategy Makes Bitcoin Strategic Moves, Spot ETFs Data Shows Outflows MicroStrategy, one of the most prominent corporate holders of Bitcoin, further demonstrated its commitment to Bitcoin accumulation. Recently, the company transferred 1,652 BTC (valued at $114.38 million) to a new wallet, signaling continued strategic asset management. MicroStrategy’s Bitcoin holdings now total 252,220 BTC, currently valued at $17.56 billion. With an average buying price of $39,266, the company has achieved an unrealized profit of approximately $7.65 billion. Looking ahead, MicroStrategy has ambitious plans to raise $42 billion over the next three years to further increase its Bitcoin holdings. The #MicroStrategy wallet transferred 1,652 $BTC($114.38M) to a new wallet 6 hours ago.#MicroStrategy currently holds 252,220 $BTC($17.56B), with an average…
Filed under: News - @ November 4, 2024 3:13 am