This slight price increase is causing the ongoing bear trend to weaken, as indicated by the Moving Average Convergence Divergence indicator.įounded in 2013, Trading Pedia aims at providing its readers accurate and actual financial news coverage. Most recent reports showed Bitcoin traded with a profit of less than one percent at around $26,700. However, as of now, there is a positive flow of over 3,000 Bitcoin.Īdditionally, there have been minimal gains in the daily chart of Bitcoin. On June 8, there was a negative flow of over 26,000 Bitcoin as withdrawals surged. This may be due to growing fear, uncertainty, and doubt. This action can further reduce the dominance of Bitcoin supply in the region and weaken its influence on the market.Ī recent outflow of funds from Bitcoin indicates that more holders are withdrawing their holdings. can no longer directly use their bank accounts to withdraw or deposit funds.Īdditionally, Binance.US notified customers that its banking partners are getting ready to temporarily halt withdrawal channels for USD starting from June 13, 2023. With Binance.US recently announcing the impact of SEC’s crackdown and the suspension of certain services, Bitcoin holders in the U.S. However, European markets have stayed essentially balanced over the last year, while supply dominance has increased significantly during Asian trading hours. supply dominance declining by 11 percent since mid-2022. entities witnessed during 2020-2021 has reversed, with U.S. There is a noticeable divergence when comparing year-over-year changes in Bitcoin supply across different regions. Many individuals are speculating on how market changes in the United States may affect the price of Bitcoin. Suspended servicesįollowing the current legal action against Binance.US, crypto holders are left wondering about the consequences. Since the beginning of the week, it has seen a nearly 6 percent plunge in value. According to the Santiment graph, Bitcoin supply on exchanges has steadily decreased over the past month, with recent events in the last week contributing to a more pronounced decline.Īs of the time of publication, Bitcoin was priced at $25,748.19, experiencing a 3.15 percent decrease in the last 24 hours. Consequently, this resulted in a temporary decrease in the price of the BTC/USD pair.ĭuring the prolonged volatility phase in May, an accumulation phase began, causing top exchanges to lose many Bitcoin tokens. This was primarily due to reduced liquidity on the platform as nervous investors started withdrawing their assets.Īs the exchange requested users to withdraw their dollars before June 13 deadline, a wave of selling occurred as traders hurried to cash out their Bitcoin. and our business partners have not been spared in the use of these tactics, which has created… /rlIe6swIoYįollowing the SEC’s attempt to freeze Binance.US assets, Bitcoin began trading at an unusually high premium on the exchange. The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. The action particularly affects the dynamics of the BTC/USD trading pair. Securities and Exchange Commission (SEC) against Binance.US has had a significant impact on the broader crypto market. The BTC/USD pair was priced at $25,836, which was $126 higher than the price on Coinbase, according to TradingView. However, Bitcoin had returned to trading at a premium on Binance.US. Kaiko further revealed that the trading price of Bitcoin on Binance’s American arm was slightly lower than on Kraken and Coinbase.
This development starkly contrasts the two days preceding it, during which the cryptocurrency traded at a significant premium on the same exchange. #BTC now trades at a slight discount on after news broke that the exchange may halt USD withdrawals 🚨 /ZyXKGhXTha The drop followed the exchange’s decision to suspend fiat trading channels beginning June 13. According to digital assets data provider Kaiko, Bitcoin traded at a slight discount on Binance.US during the June 9 trading hours.
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