In the last 24 hours, Bitcoin's price moved -2.87% to $93.21k and trading volume moved -5.34% to $62.89b.
Large Bitcoin holders, including institutional investors, have been gradually accumulating BTC, accumulating over 34,000 BTC since late December. This comes after institutions sold around 79,000 BTC the week prior, generating a 15% price correction.
Meanwhile, more than 23,000 BTC were withdrawn from exchanges over the past week, continuing the trend since November.
The stablecoin supply has been slowing down in expansion, with a decrease in circulating supply since late December when it reached its highest level, and has now stabilized in a plateau over the past week.
Both BTC and ETH ETFs recorded their second largest daily outflows to date on Jan 8 2025, with BTC ETFs seeing net outflows of $568.8m and ETH ETFs seeing net outflows of $159.4m.
