Bitcoin continues its downward movement with losses in the stock markets. Struggling with the resistance of $ 40 thousand, BTC has not yet been able to rise above this level and is trading at $ 39 thousand.

The fact that big technology companies such as Google announced less profit compared to last year and their shares are decreasing, causing BTC to be negatively affected. The fact that the US dollar index also rises above 103 reveals that the dollar has strengthened all over the world and that there is an exit from risky assets.

Bitcoin Btc 2

The leading crypto Bitcoin, which is affected by all these situations, can even be said to hold at good levels, although it moves downwards. Because in March 2020, when the dollar index was last so high, Bitcoin had regressed to the level of 3700 dollars. After this critical drop caused by the pandemic, Bitcoin started its rally as the dollar index lost strength.

Looking at the in-chain data, it is seen that there are positive developments for the market. According to Glassnode data, the total supply of Bitcoin on exchanges has decreased to 2.4 million. This decline is the lowest level in the last 44 months. The graph showing the amount of supply in the exchanges shows the situation.

balance of exchanges

The decrease in the amount of supply on the exchanges is known as an indication that especially large Bitcoin whales are pulling their BTC to cold wallets in order not to sell them. When we look at the price and supply balance, we see that the price generally moves inversely with the supply amount in the stock markets. This tells us that the whales have accumulated BTC against all the negative price movements, reducing the amount of supply waiting to be sold in the market.

France-based Delubac & Cie Bank Launches Bitcoin Trading and HODL Services

Founded in France in 1924, Delubac & Cie became the first bank to obtain a Digital Asset Service Provider (DASP) license and allow digital investments. Delubac & Cie, partnering with Taurus Group for its Bitcoin (BTC) HODL service, will offer its customers the Bitcoin (BTC) trading and holding service, the star of cryptocurrencies.

Delubac & Cie

Lamine Brahimi, the founder of Taurus Group, stated that the necessary permissions have been obtained from the EU regulation for this service, and Bitcoin (BTC) trading and HODL transactions will begin shortly. Brahimi also stated that in the near future, many banks such as Delubac & Cie will start offering services that also cater to digital asset investors, and crypto assets are no longer theory. Finally, France is the most crypto-friendly country in Europe, along with Germany. Emmanuel Macron, who was re-elected President of France, recently announced that crypto-friendly applications will increase in the country and support blockchain innovations.