Crypto News Today: Bitcoin Supply Crisis and Ethereum ETF Boom How These Trends Will Shape the Market!

Quick Summary:

According to CryptoQuant data, Bitcoin reserves have dropped by approximately 133% since January 1st, leaving just 2.

BlackRock’s Ethereum ETF led the charge with an $8.4 million inflow, indicating growing institutional interest in Ethereum.

This shift is seen as a positive indicator of Bitcoin’s price, as it reduces the likelihood of large panic sales and makes the market more resilient.

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Article Details

Author / Journalist: Nidhi Kolhapur

Category: Crypto

Markets: United StatesSouth Korea

Topics: Crypto news News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-31 @ 08:06:08 (1 days ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 489 words

Reading Time: 3 minutes read

Sentences: 40 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 22311620

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About Coinpedia

Main Topics: Crypto

Official Website: coinpedia.org

Update Frequency: 7 posts per day

Year Established: 2016

Headquarters: United States

News Last Updated: 17 hours ago

Coverage Areas: United States

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