Coin Stories News Block: Bitcoin Crash Explained, President Trump Reveals More on U.S. Crypto Reserve, BlackRock Adds Bitcoin ETF to Model Portfolios, ByBit Hack PSA
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Mar 3, 2025 This week, Bitcoin sees a significant rebound after a recent market correction. Political influence comes into play with President Trump's remarks on the U.S. crypto reserve. Meanwhile, BlackRock adds a Bitcoin ETF to its model portfolio, signaling institutional interest. The shocking hack of Bybit raises alarms, linked to the notorious Lazarus Group. Experts stress the importance of Bitcoin security, emphasizing true hardware solutions for protecting assets in an increasingly risky digital landscape.
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Bitcoin Price Volatility
- Bitcoin experienced a significant price correction, dropping below $80,000 before rebounding.
- This volatility is typical in Bitcoin bull markets, with similar drawdowns occurring in the past.
Who Sold and Who Bought
- On-chain metrics suggest that short-term holders, those who recently bought at the peak, drove much of the selling.
- Seasoned Bitcoiners and institutional investors view these corrections as buying opportunities.
Institutional Interest in Bitcoin
- Bitwise CEO Hunter Horsley noted increased institutional interest in Bitcoin during Q1.
- He observed more traditional investors, wealth managers, and banks engaging with Bitcoin amidst the price fluctuations.