Ethereum Exchange Inflows Decline As Sellers Cool Off, Will Price Follow?

Ethereum exchange inflows had been on the high side for the better part of the past week. They averaged above $1 billion each day giving credence to the sell-off trend that has been experienced in the market. However, it seems there is a turn in the tide coming. As the weekend draws to a close, exchange inflows have been on the decline. This signals that the sellers are entering into a cool-off period that could potentially alter the price movement. Inflows Fall Below $1 Billion This week had opened up…

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‘Someone is blowing up’ — Bitcoin sees 2022 volume record amid hopes capitulation is over

Bitcoin (BTC) dipping below $36,000 “smells like capitulation,” one trader says as suspicion mounts over U.S. stock markets. In a tweet on May 6, Cointelegraph contributor Michaël van de Poppe suggested that the BTC price was at least giving “serious signals.” Analyst: Stocks saw “forced liquidation” After plunging to 10-week lows in line with equities on the May 5 Wall Street trading session, Bitcoin bounced at levels last seen in February. The downturn in both crypto and stocks, which followed an initial bounce the day prior on the back of expected…

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Report: IMF Says Central African Republic’s Bitcoin Adoption Poses Risks

The International Money Fund (IMF) has added its voice to institutions and parties criticizing the Central African Republic (CAR)’s decision to adopt bitcoin. The IMF insists the adoption poses legal economic challenges not only to the country but to the region as well. CAR’s Bitcoin Adoption Has Financial and Legal Issues The IMF has reportedly said the CAR’s recent decision to adopt bitcoin poses a number of challenges for the country and the region. The comments by the global lender mark the first time it has publicly reacted to CAR’s…

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