Bitcoin fell below the $90,000 mark in the past 24 hours, dropping by 2.56%. Seemingly taking advantage of this dip, Galaxy Digital
Digital asset and blockchain firm Galaxy Digital has shifted 30 million USDT to Binance, possibly indicating a new position in BTC, according to Arkham Intelligence.
This move comes after the firm, led by Bitcoin proponent Michael Novogratz, withdrew 30 million USDT from Coinbase on Thursday. Notably, Binance is known to have a wider selection of meme coins compared to Coinbase.
One X user pointed out this detail, suggesting that Galaxy Digital might be seeking exposure to these tokens. Meme coins have seen a surge in popularity during this market cycle.
Bitcoin (BTC) price is currently consolidating after a rapid surge to a new all-time high on Thursday. However, the world’s largest cryptocurrency is showing signs of a slight downturn on Friday.
Despite being bearish for one day, BTC price is still up 15.28% over the past week and 30.80% in the last 30 days. Moreover, the cryptocurrency has gained 146.83% since November 2023.
Crucially, the market capitalization of Bitcoin is 1.74 trillion and its trading volume is 86.25 billion at the last check. Despite being slightly bearish on Friday, the market leader is showing potential for upside.
Relative Strength Index (RSI) reads a value of 74.76 which means that Bitcoin is still overbought and the gradient of the line suggests that there is potential for higher prices. The buying pressure is still quite high for BTC.
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