Bitcoin (BTC) seems to be consolidated in the middle of $ 30,000 after yesterday the price has suffered the greatest fall in absolute terms. Despite the collapse of market prices, data from various sectors show that major records were beaten by investors selling bitcoins.
On the currency ITBIT, about $ 240 million were sold during the fall in Bitcoin prices, according to the NOMIC platform. Exchange is a PAYPAL partner for buying Bitcoin, Litecoin, Ethereum and Bitcoin Cash on its platform.
Paypal made the purchase of the above cryptocurrency available to customers from the United States at the end of October 2020. Users can buy these cryptocurrency and keep them on their accounts. Although users are not yet allowed to carry out other transactions, PayPal provides funds using the "real assets" that users buy in the 1: 1 ratio, in accordance with the BIT license provided by the New York payment system.
Source: https://nomics.com/exchanges/itbit#chart
Additional data show that 63% of the market volume occupies a pair of BTC / USD, it follows ETH / USD with 37%. In addition, the data published by Glassnode fix a large number of addresses with more than 1000 BTC. Thus, the recovery of the cryptocurrency price, apparently, is supported by the pressure of buyers from PayPal and other bitco-whales, as Elias Simons researcher said:
Source: https://twitter.com/eliasimos/status/1348530882500562944/photo/2.
GRAYSCALE reopens Bitcoin Trust for new investors
Another optimistic feature can be that GrayScale reopened its Bitcoin Trust (GBTC) GRAYSCALE after a three-week break for new investors. They will be able to purchase one share of the GRAYScale product at a market price per share of $ 37.39 or 0.00094955 BTC per share with an annual commission in the amount of 2%.
The GRAYScale Bitcoin Foundation Award is currently 15.64% higher than Bitcoine's price, dropping from 33% on January 6 of this year. This premium is the result of high demand for GBTC.
Source: https://grayscale.co/bitcoin-investment-trust/#OverView.