Bitcoin grabbed downside liquidity as oil-supply pressure sent BTC price action below $66,500 to its lowest levels since March 9. Bitcoin (BTC) neared three-week lows into Friday’s Wall Street open amid reports of Iran closing the Strait of Hormuz oil route. Key points: Bitcoin reacts badly to fresh oil-supply threats ahead of Friday’s Wall Street open. Read more
Bitcoin long-term holders continued to expand their holdings, while increased withdrawal from exchanges flashed a classic supply shock warning. Bitcoin (BTC) dropped toward $67,000 during the European trading session on Friday despite an increase in long-term buying. Exchange withdrawals also increased to 16-month highs, suggesting reduced “immediate selling pressure,” a new analysis said. Key takeaways: Bitcoin withdrawals from exchanges increases, reducing BTC available for sale. Read more