Bitcoin edging lower as interest in risk-off assets worldwide appears to be dipping

28 Sep 2021

SGT 0815
📉 BTC | $42,042 (-$649, -1.5%)
📉 ETH | $2,907 (-$47, -1.6%)
📉 XRP | $0.92 ($0.00, -0.4%)
📉 LTC | $145 (-$3, -1.8%)

📉 Total Crypto Market Cap: $1.87T (-2.2%)

📊 Bitcoin transaction volumes and “active entities” have now dropped to bearish levels seen in 2016 and 2018. The growth rate of new Bitcoin holders is also declining, signalling less participation (and interest) by retail traders.

🌊 Highly Liquid Coins (coins held on exchanges – where they can be easily sold) are however at a multi-year low, with more and more participants withdrawing their BTC from exchanges. This means that more coins are less likely to be re-spent in the coming months, with Long-Term Holders now actually holding over 80% of all circulating Bitcoin – an all-time high.

🤔 De-centralised Finance and Exchange projects (many based on the Ethereum or Solana networks) are continuing to outperform following the Chinese government’s nth ban on cryptocurrency activities, with many seeing this as proof of the industry’s viability.


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