Crypto Giants are Massively Buying Bitcoin through Binance and Coinbase

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Despite uncertain market conditions, two significant Bitcoin firms are reportedly storing BTC at the moment. This year, the benchmark virtual currency has seen an almost 60% decline.

An analyst maintains his firm’s prediction that Bitcoin’s price will go above the million-dollar mark despite this year’s significant sell-off in the digital currency.

It was projected that the price of the biggest cryptocurrency in the world would reach $1 million per coin. Coin owners and miners have begun selling off the token in massive quantities in 2022. Meanwhile, the Federal Reserve continues to aggressively tighten monetary policy; driving investors away from riskier asset classes like cryptocurrencies.

The daily closed price barely changed last month despite volume hitting a record high for the year, suggesting that someone is buying up all of the sell-side liquidity.

Investors in the cryptocurrency market are waiting impatiently for the U.S. Federal Reserve to raise interest rates next, which is to be by 75 basis points in two weeks.

Nairametrics.

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