Bitcoin
Bitcoin (BTC) Falls From $70K As Bullish Signal Strengthens
The price of Bitcoin fell below $69,000 during the European morning, having briefly surpassed $70,000 on Monday evening. BTC is currently priced at around $68,900, down just over 0.2% compared to 24 hours ago. Other major crypto tokens also fell, and the broader digital asset market, as measured by the CoinDesk 20 Index (CD20), lost 0.70%. Cryptocurrency exchange Bitfinex said on Monday that Bitcoin’s drop since March has been driven by selling by long-term holders. This trend has stalled, however, with the number of net accumulated BTC addresses growing over the past month, a sign of increasing bullish sentiment.
Crypto trading firm DWF Labs will buy $12 million worth of Floki tokens from the open market and Floki treasury to support the growing ecosystem of the dog meme-turned-utility-currency project. This follows a previous commitment to buy $10 million worth of FLOKI in February, which contributed to a 50% jump in FLOKI prices the following week. Floki will launch the mainnet version of its flagship utility product, the metaverse game Valhalla, later this year. DWF’s purchases will support the growth of these ventures and provide much-needed liquidity. Floki first announced a partnership with DWF Labs in May 2023, when the trading company purchased $5 million worth of FLOKI tokens.
Bitpanda has enlisted Deutsche Bank will process fiat deposits and withdrawals for its users in Germany. Bitpanda users can now access German International Bank Account Numbers (IBANs), effectively converting crypto to fiat currency and vice versa. Deutsche Bank will also provide support for inbound and outbound transactions on Bitpanda. “Bringing together the best parts of the industry is where we can create real value for people… From today, we can access a range of Deutsche Bank products, unlocking benefits for our team and our users,” said Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda. Deutsche Bank is no stranger to cryptography and tokenization, having added crypto custody and tokenization to its repertoire last year through a collaboration with Taurus.