Bitcoin Drops From $70K as Bullish Signal Strengthens

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Bitcoin’s price fell below $69,000 by European morning after rising above $70,000 late Monday. BTC is currently priced at around $68,900, down just over 0.2% from 24 hours ago. Other major crypto tokens also fell, with the broader digital asset market as measured by the CoinDesk 20 Index (CD20) losing 0.70%. Crypto exchange Bitfinex said on Monday that Bitcoin’s decline since March was due to selling by long-term holders. However, this trend has now stopped as the number of net accumulated BTC addresses increased last month; This is a sign that the uptrend is increasing.

Crypto trading company DWF Labs will purchase $12 million worth of floki tokens from the open market and the Floki treasury to support the growing ecosystem of the dog meme monetized service project. This followed a commitment to purchase $10 million worth of FLOKI in February, which contributed to a 50% increase in FLOKI prices the following week. Floki will release the mainnet version of its flagship companion product, Valhalla metaverse game, later this year. DWF’s acquisitions will support the growth of these initiatives and provide the necessary liquidity. Floki first announced its partnership with DWF Labs in May 2023, when the trading firm purchased $5 million worth of FLOKI tokens.

Bitpanda has appointed Deutsche Bank to handle fiat deposits and withdrawals for its users in Germany. Bitpanda users can now effectively convert crypto to fiat and vice versa by accessing German international bank account numbers (IBANs). Deutsche Bank will also provide support for incoming and outgoing transactions to Bitpanda. “Bringing together the best parts of the industry is where we can create real value for people… From today, we have access to a variety of products from Deutsche Bank, thus unlocking benefits for our team and our users,” said Lukas Enzersdorfer-Konrad. Deputy CEO of Bitpanda. Deutsche Bank is no stranger to crypto and tokenization, adding crypto custody and tokenization to its repertoire last year through its collaboration with Taurus.

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