Bitcoin (BTC) has been subject to intense selling pressure. In the last 24 hours, Bitcoin price decreased by 2.47%. As per the recent update from the Onchain data provider, Glassnode, after the FTX collapse, the balance of bitcoin shrimps has risen to an all-time high. The Bitcoin shrimps’ total holdings have grown by 96.2k $BTC over the past fifteen days. This group currently owns an astounding 1.21 million Bitcoins, which is 6.3% of the total circulating supply.
Bitcoin’s current price in BTC/USD is $16,188.72, and its 24-hour trading volume is $25,080,321,304. The current market cap is $311,126,439,062 USD. It has a maximum supply of 21,000,000 BTC coins and a circulating supply of 19,218,712 BTC coins. Notably, the top cryptocurrency is unable to cross the $16,800 barrier. Below the $16,000 support area, BTC could experience further losses due to its downward movement given in the 24-hour graph of Coinmarketcap.
As per the coinmarket data, BTC/INR exchange rate is 1,324,072 today, down 2.1% from 1,352,434 yesterday.
Bitcoin’s (BTC) monthly trajectory is down, as it has dropped -21.9% from $1,694,406 in the past 30 days.. The next few days will determine whether the market begins a mid-term recovery or whether the gruelling downtrend continues. The total 24-hour trading volume for Bitcoin is $1,584,083,748,596. There are 507 markets where bitcoin can be traded, with Bitforex seeing the most activity.
In a recent news piece, Coingape mentioned, as the FTX crisis begins to unravel, a large number of Bitcoin investors have chosen self-custody as trust in centralised players reaches a new low. As a result, the supply of Bitcoin on exchanges has fallen to levels which have not seen in the last four years. Currently the Bitcoin is holding at $16,000, the contagion caused by the FTX collapse will spread further in the coming months. The FTX domino effect could push the BTC price to $5,000.
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