Markets
Bitcoin (BTC) Falls $70,000 as Bull Signal Strengthens
The price of Bitcoin fell below $69,000 during the European morning, after briefly surpassing $70,000 on Monday evening. The price of BTC is currently 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%. Crypto exchange Bitfinex said on Monday that Bitcoin’s Fall Since March Is Due to Selling by Long-Term Holders. However, this trend has now stalled, with the number of net accumulated BTC addresses increasing over the past month, a sign of growing bullish sentiment.
Crypto Trading Firm DWF Labs Will Do It buy $12 million worth of Floki tokens on the open market and Floki treasure to support the growing ecosystem of the Dog Meme Coin project turned utility. This follows a previous commitment to purchase $10 million worth of FLOKI in February, which contributed to a 50% surge in FLOKI prices the following week. Floki will release the mainnet version of its flagship utility product, the metaverse game Valhalla, later this year. DWF purchases will support the growth of these businesses and provide necessary liquidity. Floki first announced a partnership with DWF Labs in May 2023, when the trading company purchased $5 million worth of FLOKI tokens.
Bitpanda enlisted Deutsche Bank to 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 and vice versa. Deutsche Bank will also provide support for inbound and outbound transactions on Bitpanda. “It is by bringing together the best parts of the industry that we can create real value for people… Starting today, we can access a range of products from Deutsche Bank, providing benefits to our team and our users,” said Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda. Deutsche Bank is no stranger to crypto and tokenization, having added crypto custody and tokenization to its repertoire last year through a collaboration with Taurus.