BTC dropped, marking a new five-year low.

[LemonBG]

According to data from blockchain analytics firm Glassnode, the supply of Bitcoin on centralized exchanges has been in a declining trend since reaching a peak of 3.203 million BTC in March 2020. This week, the total balance of Bitcoin on exchanges dropped to a new five-year low of 2.256 million BTC. Notably, Binance holds around 691,200 BTC, Coinbase holds approximately 439,800 BTC, and Bitfinex holds around 320,700 BTC. It's important to note that these figures only account for funds directly associated with trading platforms and do not include specialized custodians or ETF-like investment tools (such as GBTC or Microstrategy).

[BashJasper]

I actually expected this. Usually Septembers are nicknamed rekt month or DCA month. That's why I've always reserved some fiat for this month at all times. Gonna take advantage and get some coins over to my bitget wallet

[MongiIG]

Bitcoin (BTC), Ethereum (ETH) Slide as SEC Postpones ETF Decision

• A decision on spot Bitcoin ETFs is pushed back to mid-October by the SEC.
• Bitcoin gives back all of this week’s bullish run-up

Bitcoin gave back nearly all of Tuesday’s rally on Thursday after the Securities and Exchange Commission (SEC) delayed making any decision on a raft of Bitcoin ETF applications. The SEC has now pushed back the latest deadline until mid-October. While this outcome was expected, a degree of hope had been building in the cryptocurrency market that a spot Bitcoin ETF would soon be announced. On Tuesday, the US Court of Appeal said that the SEC was wrong in rejecting Grayscale’s proposal to convert its Grayscale Bitcoin Trust into a spot Bitcoin ETF, fueling hope that a spot ETF would soon be granted.

A Bitcoin spot ETF gives investors direct exposure to changes in the cash market - the ETF manager holds actual Bitcoins - while futures ETFs give investors exposure to moves in the underlying futures market. Bitcoin futures ETFs are already available in the market.

 

BITCOIN (BTC), ETHEREUM (ETH) PRICES, CHARTS, AND ANALYSIS by Nick Cawley | Senior Strategist | Sep 1, 2023