The FBI, that whale in cryptos. The Federal Bureau of Investigation (FBI) has many BTC from seizures. Indeed, when scammers or thieves are caught, the FBI recovers the precious bitcoins and starts to have a nice reserve. The price of Bitcoin stabilizes at around $26,000. With the Bitcoin ETF a long time coming, cryptocurrency investment products are recording outflows.
Bitcoin price stagnates around $26,000 in 24 hours
Buyers and sellers agree on a price of $26,000. Indeed, the Bitcoin price stagnates in 24 h.
On the other hand, the share price fall by more than 11% in one week. In one monththe share price decline by almosts by 13. For its part, the pair BTC/ETH stagnant in 24 hbut shows a down 2.3% in one week.
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Indecision surrounding Bitcoin ETFs, and institutional investors pull out of Bitcoin
This week’s outflows from cryptocurrency investment products are reshuffling the deck. Indeed, two weeks agoinvestment products have seen inflows up to 28.5 million dollars. These inflows probably came from an optimistic view of US inflation. However, it would appear thatindecision hovering around the ETF Bitcoin and the market downturn cryptocurrencies have made change institutional sentiment.
According to the CoinShares report, investment products, such as Grayscale, Bitwise or ProShares, recorded exits up to 55.4 million dollars. Visit Bitcoin is the asset with the most outflows, with 42.3 million dollars. Some altcoins, such as Ether and Litecoin, are also shunned by institutional players. However, the XRP records entries of 1.2 million dollars.
Bitcoin price to bounce off $26,000 support
After the violent fall, the price stabilizes around support at $26,000. The price is back in contact with the institutional bias (EMA 9/EMA 18) bearish. A further fall cannot be ruled out.
If the price were to lose latest lows marked at 25 815 and to 25,619 dollarsThe price could quickly find itself at the next support level of $25,000. Nevertheless, buyers have the opportunity to defend support. Should the price begin to close above the recent highs located around 26,300 dollarsit could return to resistance at $26,700. RSI rebounds, but will remain fragileas long as it fails to build a dynamic with rising highs and lows.
The flash crashknown last week, and theindecision around the ETF Bitcoin have done institutional players to doubt. Cryptocurrency investment products recorded outflows to the tune of $55.4 million. Graphically, the price needs to hold support at $26,000 to avoid a further fall towards the next support level at $25,000. While the Bitcoin ETF is uncertain, could an Ethereum ETF soon be validated by the SEC?
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