NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Bitcoin Price Jumps Above $44,000, Here Are The Factors Driving It

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Bitcoin bull

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin is back above $44,000 for the first time since the Spot Bitcoin ETFs were approved for trading in January. This price surge is believed to be due to several factors that have played out in favor of the bulls in recent times. 

BTC Whales Accumulate More Bitcoin

Citing data from Glassnode, crypto analyst Ali Martinez revealed recently that Bitcoin whales have been accumulating more BTC, with around 73 new addresses now holding 1,000 BTC or more. This figure is said to mark a 3.66% increase in the last two weeks, thereby continuing the accumulation trend. 

Related Reading

XRP bull

XRP Price On The Brink: This 10-Year Trendline Could Lead To A 4000% Surge

1 year ago

NewsBTC had previously reported how Bitcoin whales had gone on a buying spree following Bitcoin’s decline to below $40,000. The flagship crypto token is believed to have dropped to that level due to the significant selling pressure from Grayscale, the issuer of the GBTC Spot Bitcoin ETF. 

The asset manager has, however, cooled off on its BTC sell-offs recently as outflows from the fund continue to decline. This is another factor that could have contributed to Bitcoin’s recent price surge. Data from the on-chain analytics platform Arkham Intelligence shows that other whales like FTX and Alameda Research have also eased off on offloading their crypto tokens. 

Spot Bitcoin ETFs Doing Their Bit

There has been increased institutional demand for Bitcoin thanks to the Spot Bitcoin ETFs. This is evident in the success which these funds have achieved since their launch. As a result, the issuers of these funds, like the world’s largest asset manager, BlackRock, have had to accumulate a significant amount of Bitcoin.

Recently, these asset managers were reported to hold over 657,000 BTC, thereby accounting for more than 3% of Bitcoin’s circulating supply. The newly listed Spot Bitcoin ETFs (excluding Grayscale) alone hold about 187,000 BTC. Interestingly, these funds are well on their way to surpassing MicroStrategy, which has a BTC holding of 190,000.

Related Reading

Cardano

Cardano Activity Sees New Life That Could Send ADA Price Soaring, Here Are The Targets

1 year ago

Meanwhile, Spot Bitcoin ETFs could launch soon in Hong Kong with 10 applications already made to the country’s financial regulators. This is another narrative that could be driving Bitcoin’s current price surge, seeing the impact that the approval rumors in the US had on Bitcoin’s price towards the end of last year. 

Hong Kong isn’t the only country in Asia showing crypto enthusiasm as Thailand was recently reported to have removed VAT (Value Added Tax) on crypto trading. 

At the time of writing, Bitcoin was trading at around $44,800, up over 4.4% in the last 24 hours, according to data from CoinMarketCap. 

Bitcoin price chart from Tradingview.com

BTC recovers to $44,800 | Source: BTCUSD on Tradingview.com
Featured image from Medium, chart from Tradingview.com
Tweet123Share196ShareSend
Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin’s SOPR Nears Critical Level—Is a Deeper Correction Ahead?

Bitcoin’s SOPR Nears Critical Level—Is a Deeper Correction Ahead?

Bitcoin’s price has continued its gradual decline, now trading just above $81,000, marking a significant drop from its all-time high...

Samuel Edyme 2 months ago
bitcoin

Bitcoin To Bottom Around $70,000? Arthur Hayes Says Correction ‘Very Normal’ In A Bull Market

According to crypto entrepreneur Arthur Hayes, Bitcoin (BTC) is likely to bottom around $70,000, marking a 36% correction from its...

Ash Tiwari 2 months ago
Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?

Bitcoin Struggles Below $82K While Coinbase Premium Rises—What’s Next?

Bitcoin continues to face challenges in regaining upward momentum, with the cryptocurrency still trading below $82,000 as of today. The...

Samuel Edyme 2 months ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cardano: Neues Allzeithoch im März?

wernerwassicek 2 months ago
Ethereum, ETH, Crypto

Ethereum Risks Another 15% Correction After Fall Below $2,000 – What’s Next For ETH?

Rubmar Garcia 2 months ago
Bitcoin

Bitcoin Bear Market Is Below This Level, Analyst Reveals

Keshav Verma 2 months ago

Premium Partners

Top Brands

Press Releases

  • LimeChain

    LimeChain – Builders of Web3 Step into the FIA...

    2 months ago
  • Ripple XRP Investors Making $13,000 Per Day with This Cloud...

    2 months ago
  • How To Make $99k Daily Despite Crypto Market Fluctuations...

    2 months ago
  • EstateX Sells Out the First Tokenized Property in Under...

    2 months ago
  • BlackFort Exchange Network (BXN) Joins Biconomy.com...

    2 months ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.