The January print of the Producer Price Index (PPI) came in markedly above expectations at 0.5% month-on-month versus an anticipated 0.3%, per data from the US Bureau of Labor Statistics (BLS).
Core PPI fared even worse at 0.8% month-on-month instead of 0.3%.
US PPI one-month % change. Source: BLS
“The January increase in prices for final demand can be traced to a 0.8-percent advance in the index for final demand services. In contrast, prices for final demand goods declined 0.3 percent,” an official statement added.
With US inflation creeping higher more quickly than markets assumed, risk-asset pressure increased, while safe havens outperformed.
Gold passed $5,200 per ounce, while silver revisited $92 to hit its highest levels since Jan. 30.
Expectations for interest-rate cuts by the Federal Reserve at its March meeting fell below 4%, according to the latest readings from CME Group’s FedWatch Tool.
Fed target rate probabilities for March FOMC meeting (screenshot). Source: CME Group
BTC price fears over “massive collapse”
With the monthly close in focus, Bitcoin market participants remained on edge.
Related: Hodlers have ‘given up’ at $65K: Five things to know in Bitcoin this week
Crypto trader, analyst and entrepreneur Michaël van de Poppe warned of a possible rerun of events from early February, where BTC/USD put in 15-month lows near $59,000.
“Pretty crucial area for me to hold on to. I’d highly favor that $BTC finds a higher low at $65k,” he wrote in his latest analysis on X.
“However, last day of the month; remember last month? A massive collapse on the markets. Let’s see what it brings: holding $65K opens up the scenario to run up from here.”
BTC/USDT 12-hour chart. Source: Michaël van de Poppe/X
Earlier, Cointelegraph reported on key resistance levels for bulls to reclaim, notably the 200-week exponential moving average (EMA) and old all-time highs around $69,000.
At the time of writing, BTC/USD roughly matched February 2025 in terms of performance, with losses nearing 17% month-to-date.
The pair prepared its fifth consecutive month of losses, a phenomenon absent from the charts since 2018, data from CoinGlass confirms.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
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Numbers don’t always tell the whole story. But sometimes they hint at something worth watching. According to crypto analytics platform Santiment, the total count of Bitcoin wallets holding at least 100 BTC is closing in on 20,000 — a threshold that some analysts are reading as an early sign that confidence among large holders may be quietly building again.
More Big Wallets, More Spread
As of Thursday, 19,993 unique wallets held 100 BTC or more. At current prices, each of those wallets carries roughly $6.71 million worth of Bitcoin. Santiment flagged the milestone on X, saying it could be crossed by Friday.
The significance, according to the platform, lies in what a growing number of large wallets suggests about how Bitcoin ownership is being distributed.
When more wallets reach that threshold rather than fewer, it points to broader holding patterns among big buyers — reducing the outsized influence that a handful of dominant players can have over prices. “In that sense, it points to less extreme consolidation at the very top,” Santiment said.
📈 Bitcoin is about to hit a milestone, surpassing 20,000 wallets with at least 100 $BTC. A wallet with 100 or more Bitcoin is currently worth a minimum of $6.78M, and they’re obviously going to be largely owned from very high net worth individuals, funds, long term holders, or… pic.twitter.com/ayzB0fmguC
That kind of distribution is generally seen as a healthier sign for the market. Fewer extreme concentrations of supply mean fewer single actors capable of moving prices dramatically with one large transaction.
Bitcoin is currently trading around $68,150, down roughly 45% from its all-time high of $126,000 reached in October. The price drop has been steep. Yet it is precisely during these kinds of downturns that large buyers are historically known to accumulate — which makes the wallet data worth paying attention to.
Old Holders Out, New Holders In
There is a catch, though. Reports from Santiment indicate that the total share of Bitcoin supply held by wallets in this category has not actually changed. New wallets are crossing the 100 BTC line, but some long-term holders appear to be selling at the same time.
BTCUSD currently trading at $67,442. Chart: TradingView
One group is coming in as another is heading for the exit. “This is why prices have stayed suppressed,” Santiment said. The buying is real, but so is the selling — and right now they are roughly canceling each other out.
Balance May Be Shifting
Fear that early Bitcoin holders — people who accumulated coins years ago at a fraction of today’s prices — have been quietly offloading their positions has been building for months. It is widely seen as one of the main reasons behind the sustained price decline.
According to Glassnode, it seems like Bitcoin OGs are done selling aggressively for now pic.twitter.com/yrmIDg8cho
Bitcoin analyst Will Clemente addressed those concerns back in January, saying that it appears those long-term holders have stopped selling aggressively, at least for the time being.
The 20,000 wallet milestone, if and when it is reached, won’t flip the market overnight. Bitcoin remains well below its peak, and the tug-of-war between new buyers stepping in and old holders stepping out continues to weigh on prices.
But the data suggests the balance may be slowly shifting. Whether that shift is enough to matter — and when — remains an open question.
Featured image from Unsplash, chart from TradingView
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The EU’s new crypto tax rules do not introduce new taxes but expand tax transparency by ensuring that crypto transactions are reported and shared across member states.
Reporting obligations fall primarily on crypto-asset service providers, requiring them to collect user identity information, tax residency details and transaction data in a standardized format.
Information reported by platforms will be automatically exchanged among EU tax authorities, reducing cross-border reporting gaps for crypto users.
The framework aligns with the Organisation for Economic Co-operation and Development’s global crypto reporting standard, increasing compatibility with non-EU jurisdictions.
The European Union is set to significantly enhance its monitoring of cryptocurrency transactions for tax purposes. Starting Jan. 1, 2026, updated reporting obligations require crypto platforms operating in the EU or serving EU users to provide detailed information on users and their transactions to tax authorities. This change aligns digital assets more closely with the transparency requirements long established in conventional finance.
The key legislation driving this shift is Council Directive (EU) 2023/2226, commonly known as DAC8. It expands the EU’s existing framework for the automatic exchange of tax information to include crypto assets. Paired with the Markets in Crypto-Assets (MiCA) regulation, DAC8 represents a major step in regulating the crypto sector. It focuses specifically on taxation rather than solely on market conduct or licensing.
This article explains how the new EU crypto tax reporting system will work, outlines the obligations for platforms and examines the implications for individual users as the rules take effect.
Why DAC8 is being introduced: Closing the gap from banks to blockchains
For more than a decade, EU countries have used the Directive on Administrative Cooperation (DAC) to automatically share tax-related financial data across borders. Previous iterations covered bank accounts, investment income and certain digital platforms, but crypto transactions were largely exempt from routine reporting.
As cryptocurrency adoption grew in Europe, this exemption created clear loopholes for potential tax evasion. EU authorities viewed it as inconsistent to exempt crypto solely because of its technological basis.
DAC8 aims to close this gap by formally incorporating crypto assets into the tax transparency system, ensuring that transaction data is gathered, reported and exchanged in a manner similar to traditional financial information. The European Commission has emphasized that crypto deserves no special exemption from tax enforcement.
Alignment with the OECD’s Crypto-Asset Reporting Framework (CARF)
The EU built DAC8 around the CARF, which was launched in 2023. The CARF sets a global benchmark for crypto transaction reporting by specifying:
Which crypto assets qualify for reporting
Which entities must report
The specific user and transaction details required.
By adopting the CARF model, the EU promotes consistency with international standards, making it easier to share data with non-EU countries that implement similar rules.
Did you know? Before crypto-specific rules, several EU tax authorities relied on blockchain analytics firms instead of formal reporting to estimate crypto activity, often producing significantly different figures for the same market.
Scope of DAC8: Covered assets and platforms
The focus of DAC8 is on crypto-asset service providers (CASPs) operating in the EU. These include centralized exchanges, brokers, custodial wallets and similar intermediaries. The rules cover a broad range of assets, including most cryptocurrencies, stablecoins, tokenized assets and certain non-fungible tokens that function more like investment vehicles than pure collectibles. The emphasis is on transferability and investment use rather than on specific labels.
The obligations extend beyond EU-based platforms. Non-EU providers serving EU users may also need to comply, highlighting the directive’s extraterritorial impact.
Timeline and implementation of DAC8
Adopted in October 2023, DAC8 required transposition into national law by Dec. 31, 2025, with application starting on Jan. 1, 2026. As of early 2026, some member states have faced delays or infringement notices for incomplete transposition, though the EU expects full enforcement.
Key dates include:
Platforms began collecting relevant data on Jan. 1, 2026.
The first reports, covering 2026 activity, will be submitted to national tax authorities in 2027, typically within nine months of year-end.
Tax authorities then automatically exchange the data annually with other EU countries.
The commission has signaled that it expects timely and full implementation. Several countries have received formal notices for delays in transposing the rules, underlining that enforcement will not be optional.
Did you know? Early drafts of EU crypto tax proposals debated whether self-custody wallets could ever be subject to reporting, highlighting how difficult it is to regulate decentralized ownership.
Reporting requirements for platforms in DAC8
Under DAC8, CASPs are required to perform enhanced due diligence and submit detailed information to their local tax authority. This includes user details such as full name, address, tax residency and tax identification number (TIN), if available.
Transaction data includes:
Types of crypto transactions, such as sales, exchanges and transfers
Gross proceeds from disposals
Dates and values of transactions.
After collection, this information is automatically shared among EU tax authorities. A user’s country of residence receives the relevant data even if the platform is located in a different country.
For platforms, DAC8 makes crypto tax reporting a structured, recurring compliance obligation. It more closely resembles financial reporting than ad hoc disclosures.
Impact of DAC8 on crypto users
One of the most significant changes for crypto users is increased tax reporting transparency under DAC8. National tax authorities can now view transactions conducted on reporting platforms.
This may result in:
Requests for more detailed tax residency or identification information during account setup or updates
Greater ability for authorities to match crypto activity against declared income on tax returns
Easier detection of inconsistencies between reported data and tax filings.
DAC8 does not introduce new taxes or standardize rates across the EU. Member states retain authority over crypto taxation policies, as the directive focuses solely on information exchange. While DAC8 automates data exchange between authorities, users are still required to report their crypto activity through their respective national tax returns.
Compliance challenges for platforms under DAC8
Implementing DAC8 requires significant upgrades, including accurate transaction tracking, tax residency verification and secure data storage. Smaller or less-resourced providers may struggle to meet these obligations alongside MiCA and Anti-Money Laundering requirements.
Non-compliance carries the risk of penalties, including fines for late, incomplete or missing reports. Some platforms have indicated that regulatory compliance costs may influence where they choose to operate.
Users may also face confusion in understanding DAC8 in the context of MiCA. DAC8 addresses tax transparency behind the scenes, while MiCA covers licensing, investor safeguards and market conduct.
The two are complementary: DAC8 ensures tax data flows once services are active, while MiCA defines permissible operations. Together, they create a comprehensive oversight framework for the crypto economy.
Certain aspects remain unclear under DAC8, such as how decentralized finance (DeFi) fits in when no central intermediary exists to report to. Privacy advocates have raised concerns about extensive data collection and sharing, though EU officials note that the General Data Protection Regulation (GDPR) and other data protection laws continue to apply. It remains to be seen how these safeguards will operate in practice.
Did you know? Similar crypto tax reporting models are being explored in Asia-Pacific and Latin America, suggesting that EU-style transparency could become a global norm rather than a regional exception.
DAC8 in the broader context
DAC8 forms part of a global trend as crypto integrates into mainstream finance. Governments worldwide are increasingly treating it as part of the mainstream financial system rather than as a parallel economy viewed with suspicion.
By adopting OECD-aligned standards and enabling cross-border exchanges, the EU underscores that crypto will face the same transparency demands as traditional assets. For users and platforms in Europe, the period of limited formal tax oversight is effectively ending.
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The U.S. Department of Justice has announced a significant cryptocurrency seizure linked to Chinese transnational criminal networks, part of a broader initiative to combat global scams.
The U.S. Department of Justice (DOJ) recently announced a major seizure of cryptocurrency linked to Chinese transnational criminal organizations. This move is part of a comprehensive strategy to dismantle international scams and financial crimes.
Central to this effort are the DC Scam Center and the Strike Force initiative, both of which play pivotal roles in identifying and apprehending criminals involved in cryptocurrency-related offenses. The Strike Force, in particular, is a collaborative law enforcement effort targeting these transnational networks, highlighting the global reach of these criminal enterprises.
“In only three months, we have made significant progress, freezing, seizing, and forfeiting cryptocurrency worth more than $580 million from these criminals. These criminals don’t care who you are, what you believe in, or what you ate for breakfast—all they want is to steal from good and honest Americans to line the pockets of Chinese organized crime,” said U.S. Attorney Jeanine Ferris Pirro.
This article was generated with the assistance of AI workflows.
In this conversation with Debra LePage and Ramon Caracas from Payment Spayce, and George Thomas from Sagicor Bank, they detail their strategy of growth through seamless onboarding, scalability, and strategic partnerships
Strategic decisions focused on seamless onboarding and scalability are fueling the company’s annual growth of roughly 25%, driven mainly by word-of-mouth. LePage and Caracas emphasized that partnerships and acquisitions are vital for elevating product value and recently closed an acquisition of a regulated trust company, establishing them as a financial entity in Canada, and plan for more acquisitions this year.
A key partnership involved developing a Real-Time Payment (RTP) system for a bank, making them a technology partner in that department, with RTP offering a service 24 hours a day, seven days a week, 365 days a year, a significant leap over typical bank offerings limited to business hours. This speed gave their clients a competitive edge, allowing them to market their services to gain more business.
Thomas discussed digital banking in the Caribbean, noting the rollout of BIMPAY (the interbank payment system for Barbados) and anticipating similar island projects leading to interconnection. The region is seeing increased South-South cooperation with Sub-Saharan Africa, with digital payments expanding from domestic to regional and international levels. The faster payments rail is a crucial precursor to open banking, which will accelerate opportunities for fintech entrepreneurs.
Thomas expects to see local variants in areas like rideshare and food delivery, alongside e-commerce and m-commerce growth. Ultimately, technologies such as tokenization and wearables (like embedded financial wristbands for festivals) will emerge, simplifying payments and rightsizing transaction costs across the Caribbean.
U.S. Attorney Jeanine Ferris Pirro said federal authorities have frozen and seized more than $580 million in cryptocurrency tied to Southeast Asian scam networks, marking a major escalation in the government’s campaign against cross-border crypto fraud.
The funds were restrained through the Justice Department’s Scam Center Strike Force, a task force formed in November to target cryptocurrency investment and confidence schemes linked to Chinese transnational criminal organizations.
Officials said the groups use social media platforms and text messaging to target U.S. victims and siphon billions of dollars each year. Recent estimates place annual losses to Americans near $10 billion.
“In only three months, we have made significant progress, freezing, seizing, and forfeiting cryptocurrency worth more than $578 million from these criminals,” Pirro said in a statement. She said her office will seek forfeiture through the courts and aims to return funds to victims.
Authorities describe the schemes as “pig butchering” operations, in which fraudsters build relationships with victims before steering them into fraudulent crypto investments. Victims are persuaded to purchase legitimate digital assets and then transfer them to counterfeit trading platforms controlled by the scam networks.
The operations often run out of secured compounds in parts of Southeast Asia, including Burma, Cambodia, and Laos. U.S. officials said some workers inside the compounds are trafficking victims who are forced to carry out scams under threat of violence. In certain areas, revenue generated from scam activity accounts for a large share of local economic output.
The Strike Force is focused on identifying senior figures within the criminal networks, including organizers and money launderers who move proceeds through blockchain transactions and shell accounts. Investigators are tracing funds across exchanges and wallets to disrupt cash-out points and freeze assets before they are dispersed.
The initiative brings together the U.S. Attorney’s Office for the District of Columbia and several Justice Department divisions, along with the Federal Bureau of Investigation, the U.S. Secret Service, and the Internal Revenue Service’s Criminal Investigation unit. U.S. Attorney’s Offices in Rhode Island and the Western District of Washington are also participating.
The Justice Department said the Strike Force will continue targeting infrastructure, financial channels, and leadership structures tied to the fraud networks.
Crypto crime hit $154 Billion last year
Data from Chainalysis shows illicit crypto addresses received at least $154 billion in 2025, a 162% year-over-year increase, with sanctioned entities driving much of the surge. Nation-states including Russia, Iran, and North Korea played an outsized role, leveraging blockchain infrastructure for sanctions evasion, money laundering, and large-scale thefts.
Stablecoins accounted for 84% of illicit transaction volume, the report said.
The report also highlights the expansion of Chinese money laundering networks offering “laundering-as-a-service” and other full-stack illicit infrastructure. Although illicit activity still represents less than 1% of total crypto volume, the scale and geopolitical dimension of the activity pose rising risks for regulators, law enforcement, and national security.
The US Department of Justice’s Scam Center Strike Force has recovered $580 million in digital assets connected to pig butchering scams run by Chinese transnational criminal organizations, according to a Friday announcement.
Established last November, the strike force focuses on scam compounds mainly located in Southeast Asia to dismantle the global infrastructure behind pig butchering and crypto investment fraud.
Attorney Jeanine Pirro, who heads federal prosecutions in the nation’s capital, said the milestone was reached within three months of the task force’s formation.
“These criminals don’t care who you are, what you believe in, or what you ate for breakfast—all they want is to steal from good and honest Americans to line the pockets of Chinese organized crime,” Pirro said.
Pig butchering is a sophisticated romance-investment fraud where scammers use emotional intimacy to lower a victim’s defenses before steering them toward counterfeit trading platforms.
Scam operators, many based in compounds across Burma, Cambodia, and Laos, use American social media networks and text messages to identify targets.
In some Southeast Asian nations, revenue from fraud operations approaches half of gross domestic product, according to the Justice Department.
The task force brings together prosecutors from the DOJ’s Criminal Division, the FBI, the Secret Service, and the Internal Revenue Service’s criminal investigation unit.
By January 2026, the initiative had already recovered $402 million in digital assets linked to scam networks.
The U.K. Gambling Commission is exploring allowing crypto payments for licensed betting operators, as part of a broader push for regulations that help fight illegal markets and foster innovation.
Executive Director Tim Miller said the regulator wants to examine a “potential path forward” for crypto payments in the U.K., at the Betting and Gaming Council’s Annual General Meeting. Miller cited growing consumer demand and evidence that crypto-related searches are driving some players to unlicensed sites.
The gambling commission’s announcement comes after the U.K. government laid the Financial Services and Markets Act 2000 (Cryptoassets) Regulations 2025 before Parliament in December. If approved, the rules would bring cryptoassets under the Financial Conduct Authority’s (FCA) remit, with a new regulatory regime expected to take effect in October 2027.
Miller said the Commission’s research shows crypto is “one of the two biggest searches” leading British gamblers to illegal operators. Rising consumer interest in digital assets, combined with those search patterns, has prompted the regulator to begin exploratory work.
The Commission has asked its Industry Forum to examine how crypto payments could be introduced in line with its licensing objectives, including anti-money laundering controls and consumer protection safeguards.
“There will be significant challenges and risks to overcome,” Miller said, adding that the Commission intends to approach the issue by “exploring the art of the possible” rather than dismissing innovation outright.
The proposal is being framed partly as a response to the illegal market. The Commission has increased enforcement activity in recent years and secured additional Treasury funding to strengthen efforts against unlicensed operators. Allowing regulated operators to accept crypto could help keep consumers within the licensed system instead of pushing them toward offshore sites, Miller said.
Miller emphasized that permitting crypto payments would not amount to approving offshore crypto casinos to operate in the U.K. Any operator would still need to meet strict suitability, compliance and know-your-customer standards under existing gambling rules, alongside forthcoming FCA requirements, he added.
eBay has partnered with Europe’s leading Pay by Bank network, TrueLayer, to bring instant, secure bank payments to millions of UK buyers.
The collaboration introduces a ‘Pay by Bank’ option at checkout, marking a significant step in the diversification of the e-commerce giant’s payments mix.
Streamlining the checkout experience
With the new integration, UK buyers can pay for their purchases directly from their bank accounts.
According to the announcement, the checkout experience offers several key benefits:
Transactions are authorised through the user’s own banking app in seconds.
The process is designed to be fast, secure, and frictionless, eliminating the need for physical cards or the manual entry of account details.
Because the system uses bank-grade authentication technology, the buyer’s bank login information is never shared with or stored by eBay.
TrueLayer securely connects the buyer’s bank to process the payment.
All eligible purchases made via this method are automatically covered by eBay’s Money Back Guarantee for no additional fee.
Francesco Simoneschi, CEO and co-founder of TrueLayer, commented on the rollout:“Our partnership with eBay brings Pay by Bank into the everyday shopping journey of millions of UK customers. By integrating directly into eBay’s checkout, we’re enabling instant, bank-authenticated payments at scale that allows merchants to benefit from a faster and more streamlined payment experience. This is another step towards a real-time payments ecosystem that aligns with modern consumer expectations.”
Avritti Khandurie Mittal, vice president of product for eBay Services, added: “We’re constantly evolving eBay’s checkout experience to expand choice and make paying on our platform safer, faster and more seamless. Pay by Bank represents an important step in diversifying our payment mix with a secure, real-time way for buyers to pay directly from their bank accounts. Through our partnership with TrueLayer, we’re bringing this innovation to millions of UK customers while continuing to build a more modern, efficient payments experience.”
Strategic backing and scaling up
Alongside the commercial partnership, eBay Ventures has made a strategic investment in TrueLayer.
For the wider payments ecosystem, this development signals a shift for Pay by Bank—transitioning from an emerging payment method to one operating at genuine scale. This scaling is partly driven by geopolitical, regulatory, and commercial pressures that are building on traditional card networks.
For TrueLayer, the eBay deal follows a year of strong momentum across Europe as merchants increasingly prioritise fast, safe, and flexible payment options that align with evolving consumer preferences. The fintech platform has seen growing adoption among major e-commerce merchants, having announced an integration with Amazon just last week, in addition to existing partnerships with Just Eat and Ryanair.
Bitcoin (BTC) sellers returned on Friday, pulling BTC price 5.5% below Wednesday’s high of $70,000 to trade at $65,950 at the time of writing. Several analysts said Bitcoin is “going much lower,” potentially reaching a bottom during the last quarter of 2026.
Key takeaways:
Analysts forecast BTC price to hit a bottom in Q4 based on various technical and onchain metrics.
Rising exchange reserves and “supply in profit” falling to 2022 lows suggest further downside pressure.
Analysts say Bitcoin price will bottom after June
According to multiple analysts, Bitcoin could extend its downtrend, possibly reaching as low as $30,000 to $45,000 during the last quarter of the year.
Related: Bitcoin’s five-month losing streak may not end in March as $70K caps price
The shortest bear market lasted 365 days, and “Bitcoin is currently about 140 days into its current bear market,” crypto trader Darky said in a Friday post on X, adding:
“We are going much lower, just a matter of time.”
Onchain data provider CryptoQuant said “bottoms take time” to form, and that Bitcoin could reach its cycle lows between “June and December,” based on previous post-halving price structures.
“Historically, the sweet spot clusters around September–November 2026.”
Bitcoin price trace after halving. Source: CryptoQuant
Fellow analyst Batman said that previous bear cycles printed their lows 365 and 396 days after the market top.
Bitcoin’s current all-time high of over $126,000 was reached on Oct. 2, 2025, and “adding 365 to 396 days puts us around October to November 2026,” Batman said, adding:
“So whatever price we get by then, I think it’s fair to say it will be a no-brainer buy.”
Meanwhile, the Bitcoin “supply in profit” metric has dropped to levels last seen at the depths of the 2022 bear market, according to data from CryptoQuant.
In 2022, the bottom phase lasted for about six months.
Overlaying the exact downward price action from that period onto the current chart, it aligns with the -70% to -75% drawdown range projected for the fifth cycle.
This suggests that Bitcoin could drop further from current levels, possibly bottoming between $$31,500 and $38,000 six months from now.
Bitcoin supply in profit % and projected BTC price bottom. Source: CryptoQuant
On-Chain College shared a chart showing that Bitcoin broke below its Long-Term Holder True Cost Basis at $65,700 and needed to reclaim it as support.
Cost basis levels act as psychological pivots, and when the price trades below them, investors face unrealized losses and the risk of distribution increases.
A sustained position below the band tends to increase investor stress and encourages BTC capitulation.
“History would suggest that Bitcoin is due for a trip down to $42K or lower.”
Bitcoin LTH true cost basis. Source: Checkonchain
As Cointelegraph reported, many analysts expect 2026 to be a bear market year, and various forecasts predict the BTC price dropping to as low as $40,000.
Bitcoin supply on exchanges keeps rising
Onchain data from CryptoQuant shows Bitcoin balance on exchanges has grown to 2.752 million BTC from 2.723 million in mid-January. This represents a total increase of approximately 28,489 BTC (+1.0%) over 45 days.
Increasing BTC supply on exchanges is a classic bearish signal that can outpace demand.
“Until the reserve turns lower and breaks back below 2.723M BTC, structural selling pressure remains intact,” analyst Axel Adler Jr. said in a recent analysis, adding:
“The key trigger for a regime change is a sustained decline in the reserve below the January lows.”
Bitcoin reserve on exchanges. Source: CryptoQuant
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
