After facing strong selling pressure over the last weekend, Bitcoin is back above the $40,000 level once again.
These traders – addresses holding <1 month, tend to follow the price action, and in many cases sell at a loss.
Bitcoin has been showing major price movements in the range of $35,000-$45,000.
Australia is set to get its first spot-Bitcoin ETF this week on April 27 which will be listed on the CBOE equities trading exchange.
Citing data from Glassnode, analysts at Blockforce Capital report that a “massive” number of BTC coins have been moving off exchanges.