Bitcoin
Why Bitcoin is up 3.0% in the last hour
Analysis
Bitcoin rose about 3% over the past hour as traders reacted to fresh signals of ongoing sovereign accumulation, with CoinDesk reporting that El Salvador’s government continues adding bitcoin alongside other reserve moves. Sentiment was also supported by positioning and ETF-flow framing highlighted by Decrypt, which noted traders weighing upside recovery scenarios alongside downside risks, helping drive near-term buying interest.
Contributing Factors (3)
Net Metrics Miss the Real Story as Long-Term Holders Spend 370,000 BTC Monthly
Gross on-chain data reveals Bitcoin long-term holders were far more active than net position change figures suggest.
El Salvador's central bank buys $50 million of gold as government keeps adding bitcoin
The bitcoin-friendly nation's central bank now holds over $360 million of the yellow metal, while the government, led by President Nayib Bukele, has bitcoin holdings worth $635 million.
Bitcoin Traders See Nearly Even Odds for $69K Drop or $100K Recovery
Bitcoin sentiment on Myriad flipped bearish for first time in two months as traders bet on further downside amid shutdown fears and extreme market volatility.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.