{"id":1294,"date":"2024-10-17T16:03:00","date_gmt":"2024-10-17T16:03:00","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1294"},"modified":"2024-10-17T16:03:00","modified_gmt":"2024-10-17T16:03:00","slug":"bitcoin-whales-push-apex-crypto-to-67k-what-happens-next","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1294","title":{"rendered":"Bitcoin Whales Push Apex Crypto To $67K: What Happens Next?"},"content":{"rendered":"<div>\n<p><strong>Bitcoin<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/btc\/usd\">BTC<\/a>) exchange reserves have plummeted to a multi-year low, <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/09\/40801901\/the-crypto-bros-were-right-how-bitcoin-is-becoming-an-important-part-of-the-financial-syst\">signaling growing institutional demand<\/a>, but elevated price levels may cause short-term profit taking.<\/p>\n<p><strong>What Happened: <\/strong>CryptoQuant <a href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/exchange-flows\/exchange-reserve\">data<\/a>, as <a href=\"https:\/\/www.theblock.co\/post\/321378\/bitcoin-exchange-reserves-drop-to-multi-year-low-amid-rising-institutional-demand-cryptoquant?utm_source=rss&amp;utm_medium=rss\">reported<\/a> by The Block, shows that over 51,000 bitcoin have been withdrawn from major cryptocurrency exchanges in the past month alone. This trend has reduced the liquid supply of bitcoin and suggests a long-term holding strategy among investors. <\/p>\n<p><strong>Julio Moreno<\/strong>, CryptoQuant head of research, told The Block, \u201cBitcoin exchange reserves have declined this year because of Mt. Gox distribution to creditors, as our total exchange reserve data included <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/08\/40483483\/mt-gox-transfers-709m-in-bitcoin-are-creditor-payouts-almost-over\">Mt. Gox reserves,<\/a> and Coinbase exchange reserve declining, removing the &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41385343\/bitcoin-whales-push-apex-crypto-to-67k-what-happens-next\" alt=\"Bitcoin\" whales push apex crypto to what happens next>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (CRYPTO: BTC) exchange reserves have plummeted to a multi-year low, signaling growing institutional demand, but elevated price levels may cause short-term profit taking. What Happened: CryptoQuant data, as reported by The Block, shows that over 51,000 bitcoin have been withdrawn from major cryptocurrency exchanges in the past month alone. This trend has reduced the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1294","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1294"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1294\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}