Bitcoin Dips Below $100K As Accumulation And Institutional Activity Surge

Bitcoin has slipped below the $100,000 mark, but a significant demand zone has emerged just beneath this level. On-chain data reveals that over 1.45 million BTC were accumulated at an average price of $97,500, creating a key support zone that could influence future market movements. Will Bitcoin retrace below $100k? Interestingly, a significant demand zone has formed just under $100k. Over 1.45 million BTC was accumulated at an average price 97.5k, making this an important potential support zone. pic.twitter.com/vDcHEl8OKV — IntoTheBlock (@intotheblock) December 19, 2024 Recent months have also seen a notable shift in Bitcoin ownership. The proportion of wealth held in recently moved supply has been increasing, as long-term holders redistribute coins to new investors. This trend highlights a surge in demand-side activity and growing interest from fresh market participants. The proportion of #Bitcoin wealth held within recently moved supply has started to increase meaningfully in recent months. This occurs as coins held by Long-Term Holders are distributed to new investors, which in turn highlights a surge in new demand-side activity. pic.twitter.com/h0P5gMihlj — glassnode (@glassnode) December 19, 2024 Institutional players continue to play a pivotal role in the Bitcoin ecosystem. Marathon Digital (@MARAHoldings) recently added 1,627 BTC, worth $166 million, to its holdings within just eight hours. Meanwhile, MicroStrategy’s Michael Saylor announced plans to transition the company’s fundraising strategy. On-chain data shows that Marathon Digital( @MARAHoldings ) has accumulated 1,627 $BTC ($166M) in the past 8 hours. https://t.co/9DlN5ZPsBz pic.twitter.com/3KQUfyJnJY — Lookonchain (@lookonchain) December 19, 2024 After exhausting the current leveraged Bitcoin proxy plan, MicroStrategy intends to focus on fixed-income securities to finance future cryptocurrency purchases. So far, the firm has utilized a mix of new stock and convertible bond sales to expand its Bitcoin reserves. MicroStrategy`s Michael Saylor said that once the current fundraising plan is exhausted, the company will shift from the leveraged Bitcoin proxy plan to a more focused fixed-income securities to raise funds to buy cryptocurrencies. So far, MicroStrategy has used a combination of… — Wu Blockchain (@WuBlockchain) December 19, 2024 Bitcoin spot ETFs are also experiencing consistent inflows, signaling sustained interest from institutional investors. On December 18, spot ETFs recorded a net inflow of $275 million, marking 15 consecutive days of positive flows. Notably, BlackRock’s IBIT ETF saw a substantial net inflow of $360 million. On December 18, Bitcoin spot ETFs had a total net inflow of $275 million, continuing net inflows for 15 consecutive days. BlackRock ETF IBIT had a net inflow of $360 million. https://t.co/59u0BnEqLG pic.twitter.com/8YRtjyAxNI — Wu Blockchain (@WuBlockchain) December 19, 2024 Despite Bitcoin’s recent price dip, the underlying fundamentals indicate robust demand and increasing institutional adoption. With significant accumulation at current levels and continued inflows into Bitcoin-focused financial products, the market remains poised for potential growth in the near term. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: alekskhmelev/ 123RF // Image Effects by Colorcinch

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