Bitcoin Sees $1.04 Billion In Exchange Inflows; Is A Bloodbath Coming?
According to Bitcoinist, Bitcoin experienced a significant shift in market dynamics last week, with $1.04 billion in net inflows to crypto exchanges. This marked a reversal from the previous three weeks of outflows, as reported by on-chain analytics platform IntoTheBlock. The inflows suggest growing uncertainty among Bitcoin holders, driven by global political and economic factors. Additionally, Bitcoin transaction fees dropped by 10.74%, indicating reduced network activity, which is often a bearish signal.
Spot Bitcoin ETFs also played a role in this trend, with US-based ETFs recording $651.83 million in net outflows, the largest since September 2024. This movement has created selling pressure on exchanges, with Bitcoin currently trading at $97,504. Analysts highlight key supply and demand levels, with a potential breakout above $99,470 possibly pushing Bitcoin past the $100,000 mark. However, a drop below $94,660 could lead to further corrections. For more details, visit Bitcoinist's article at https://bitcoinist.com/bitcoin-sees-1-billion-in-exchange-inflows-is-a-bloodbath-coming/.
253 Billion Shiba Inu Tokens Hit Binance, Raising Market Concerns
U.Today reports that a staggering 253 billion Shiba Inu (SHIB) tokens were transferred to Binance within 24 hours, causing a 14% spike in trading volume. This massive movement, driven by SHIB whales, has sparked speculation about a potential trend shift. SHIB has been trading above the $0.000015 level, with analysts suggesting that the influx of tokens could sustain its recovery and potentially lead to a new rally.
Despite this, SHIB's trading volume dropped by 2.86% to $279.52 million in the last 24 hours, indicating cautious market sentiment. As of now, SHIB is priced at $0.00001668, with resistance levels at $0.00002205. The SHIB community remains optimistic about future rallies, supported by ongoing token burns and market activity. For the full story, refer to U.Today's coverage at https://u.today/253000000000-shiba-inu-shib-stuns-worlds-biggest-crypto-exchange.
Nigeria Responds to Binance Executive's Allegations
BBC.com reports on the ongoing dispute between Binance executive Tigran Gambaryan and the Nigerian government. Gambaryan, who was detained in Nigeria for eight months on allegations of money laundering, claimed that his arrest disrupted diplomatic relations between the US and Nigeria. He also accused Nigerian lawmakers of demanding a $150 million bribe.
The Nigerian government has dismissed these allegations as misinformation, stating that Gambaryan's visit was discretionary and not officially sanctioned. The government also rejected a $5 million settlement offer from Binance, opting for a resolution with the US government instead. For more details, read the full article on BBC.com at https://www.bbc.com/pidgin/articles/cjde7xxyky2o.
Sources:
- Bitcoin Sees $1.04 billion In Exchange Inflows; Is A Bloodbath Coming?
- 253,000,000,000 Shiba Inu (SHIB) Stuns World's Biggest Crypto Exchange
- $PI Coin Listing On 20 Feb On Major Crypto Exchanges - What's the Price?
- Binance Tigran Gambaryan: Nigeria government react to crypto exchange executive claims
- $1.04 Billion Bitcoin Stun Crypto Exchanges, What's Happening? By U.Today
- Which Altcoins Can Turn $1,000 to $150,000 This Year? Analyst Names XRP, SUI, and DTX Exchange
