Astonishing ETF Inflows: Are Whales Buying BTC?

Are Whales Buying BTC? After falling as low as $60,752 in a single day, Bitcoin (BTC) has been unable to recover and is now trading near the $60,750 mark. Several factors have contributed to the recent drop in Bitcoin prices. One iiBitcoin’smanggovernment’slarge-scale BTC government is the persistent regulatory hurdles that big crypto exchanges continue to confront.

Regardless of these constraints, investors talk about possible accumulation by huge holders, or “hales,” after recent unexpected” “d info” into Bitcoin ETFs. These influxes have the potential to signal a change in market sentiment and impact short-term Bitcoin price forecasts.

Binance regulatory issues.Possible US BTC Price Pressure

In response to governmental pressure, Binance.US has stated that it will discontinue operations for Washington customers starting August 20th. This follows similar suspensions in Vermont, New York, and Texas. In addition to legal troubles concerning BBinance.com’sCEO, Changpeng ZhBinance. It is under investigation for rule violations and mixing funds.

Are Whales Buying BTC?: The recent revocation of its money transmitter licenses in North Dakota and Oregon has imposed further restrictions on its operations. Subsequently, Binance was sued by the United States Securities and Exchange Commission for inadequate anti-money laundering procedures and improper registration.  To make matters worse for the exchange, India punished similar infractions with fines and bans.

Uncertainty among cryptocurrency investors may temporarily decline due to regulatory hurdles and operational interruptions at Binance in the US.

• Binance.US halts operations in Washington from August 20th
• Investigations and lawsuits from the U.S. SEC and other regulators
• Potential downward pressure on BTC prices due to regulatory uncertainty

German Government Bitcoin Transfers on BTC Price

A private wallet, Kraken, and Bitstamp were among the recipients of 750 Bitcoin (BTC)—worth approximately $46.27 million—recently sent by the German government. Are Whales Buying BTC?: The previous week saw substantial fluctuations in Bitcoin, valued at about $271.3 million, with a total of about 4,250 BTC changing hands. It is possible that these and other actions, like the German government’s transfer of 750 B government, are falling below $61,000.

Also Read: Why Should Crypto Traders Watch US Macros and Fed?

FFed’sHawkish Stance and SStronFed’slarImpact on BTC Price

The FedeReserve’s most hawkish posture is the signing of the US currency. After their June meeting, the Federal Reserve showed signs of being more aggressive, with officials favouring a single interest rate hike for the year.

Wah, an 11.3 per cent decline to 619,000 uniMMay’s news new home sales was the monthly total since November 2022. Inflationary pressures have been lessening, and economic growth has slowed, but the US dollar has held its value. In contrast to market estimates, which predict a rate drop in September and maybe two more cuts by year-end, the Fed is projecting only one rate hike in 2024.

The price of bitcoin fell below $61,000 due to several factors, including the US ddollar’sstrength and the FFed’dollar’ssiveapproach, as FFed’sasthe lack of anticipated rate decreases in response to economic slowdown indications.

• The US dollar gains momentum due to the FFed’shawkish stance
• New Home FFed’sfell 11.3% in May, the sharpest drop since September 2022
• BTC price pressured by strong US dollar and FFed’sminimal rate hhprojecteded’sBitcoin Price Prediction