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Bitcoin (BTC) Falls from $70,000 as Bullish Signal Strengthens
The price of Bitcoin fell below $69,000 during the European morning, after briefly topping $70,000 late on Monday. BTC is currently priced at around $68,900, down just over 0.2% from 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 this on Monday Bitcoin’s collapse since March has been driven by selling by long-term holders. However, this trend has now stopped, with the number of BTC addresses accumulated sharply rising over the past month, a sign of growing bullish sentiment.
Cryptocurrency trading firm DWF Labs will do this purchase $12 million worth of Floki tokens from the open market and Floki treasury to support the growing ecosystem of the dog meme project turned into utility coin. This follows an earlier commitment to buy FLOKI worth $10 million in February, which contributed to a 50% increase in FLOKI prices the following week. Floki will release the mainnet version of its flagship product, the Valhalla Metaverse game, later this year. DWF’s purchases will support the growth of these initiatives and provide much-needed liquidity. Floki first announced a partnership with DWF Labs in May 2023, when the trading firm 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 cryptocurrencies to fiat and vice versa. Deutsche Bank will also provide support for incoming and outgoing transactions on Bitpanda. “By bringing together the best parts of the industry 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 cryptocurrencies and tokenization, having added cryptocurrency custody and tokenization to its repertoire last year through a collaboration with Taurus.