CryptoQuant’s chief executive, who is also the firm’s market analyst, says that US Bitcoin (BTC), holdings are regaining their dominance.
Ki Young Ju, in a post published on social media platform X says the demand for exchange traded funds (ETFs) that trade the spot market is driving the US to regain its BTC dominant position.
The U.S. has regained its dominance over Bitcoin. The demand for spot ETFs is driving its ratio to increase in comparison with other countries. .”
Ju claims that the crypto-asset with the highest market capital has overcome FUD this year, as it was able to absorb numerous events of selloff without suffering too many losses.
Bitcoin won the FUD in this year. Mt. The market has absorbed Mt. Gox, German BTC and Mt.
Bitcoin currently trades for $64,505, a decrease of over 2% in the past 24 hours.
Ju continues to state that the “bullish” vibes generated by the early release from prison of former Binance CZ (Changpeng Zhao) could lead to a rally in all markets.
CZ has a bullish mood today. It’s not clear why I feel it, but so do you. The market will boom if he posts ‘I am back’.
Zhao, the man who created the largest crypto-exchange platform in the world by volume back in 2017, has been sentenced to jail earlier this year after pleading guilty to violating the Bank Secrecy Act’s anti-money laundering provisions.
Subscribe for email alerts to avoid missing a beat
Surf the ICD mix
Please follow us at X@InvCryptoDaily
___________________
Sources of Images include Pixabay Creative Commons & Midjourney
The post US Regaining dominance of Bitcoin (BTC), According to CryptoQuant’s CEO, may change as new information becomes available.
This site is for entertainment only. Click here to read more
