Bitcoin News: Shrimps Resume Accumulation as Supply Share Hits 6.9%

Bitcoin Shrimps, or holders with less than one BTC, have resumed their accumulation efforts, increasing their share of the total Bitcoin supply to 6.9%. This group is now purchasing Bitcoin at a rate of 17,600 BTC per month, according to on-chain data. Glassnode, a leading analytics firm, highlighted this trend in a recent post, noting that the Bitcoin Shrimp Supply has reached 1.36 million BTC, marking a significant rise in their holdings.

Bitcoin Shrimps Back To Buying: Supply Share Hits 6.9%

On-chain data reveals that Bitcoin Shrimps, referring to holders with less than one BTC, have resumed accumulation, increasing their share of the total Bitcoin supply to 6.9%. This group is now purchasing Bitcoin at a rate of 17,600 BTC per month. The analytics firm Glassnode highlighted this trend in a recent post, noting that the Bitcoin Shrimp Supply has reached 1.36 million BTC, marking a significant rise in their holdings.

Excessive Crypto Taxes May Trigger Talent Exodus from EU, Expert Warns

Italy has recently increased its cryptocurrency capital gains tax from 26% to 42%, a move that has sparked significant debate. While the government views this as a lucrative source of public revenue, critics argue it could deter innovation and push investors to more crypto-friendly jurisdictions. The EU’s MiCA regulation aims to provide a unified regulatory framework to reduce legal ambiguities and foster innovation, but individual countries like Italy are adding their own rules. This tax hike may slow down local Bitcoin trading activity and could lead to a talent exodus from the EU.

Bitcoin to Face More Volatility in the Short Term as US Treasury Yields Surge

Bitcoin (BTC) has recently experienced significant volatility, briefly trading below the $90,000 range. Analysts predict continued short-term volatility due to macroeconomic pressures, including tightening financial conditions, the U.S. Federal Reserve signaling fewer rate cuts, and the Justice Department's authorization to liquidate $6.5 billion worth of BTC. Additionally, rising U.S. Treasury yields, with the 10-year yield climbing to 4.79%, are contributing to the market's instability. This level of yield was last seen 14 months ago, and the last time yields surged above 4.6% was in April 2024, which also impacted BTC trading.

Is Bitcoin Ready for a Significant Increase? What Historical Data Suggests

Bitcoin (BTC) started the year with a bullish push but quickly lost momentum, dropping below $95,000 and creating uncertainty among investors. To better understand how the trajectory of the most valuable cryptocurrency might evolve by the end of the month, we analyzed historical returns and price patterns of Bitcoin. In November 2024, Bitcoin recorded a gain of 37.29%, while in December it suffered a loss of 2.85%. The asset closed the year 2024 at $93,401. As January progresses, we analyzed data from the Coinglass platform, calculating the historical average and median returns of Bitcoin for each month. Since 2013, Bitcoin has shown a positive average performance in January, with a gain.

Italy’s Banking Giant Intesa Sanpaolo Buys Over $1 Million in Bitcoin

Intesa Sanpaolo, Italy’s largest banking group, has made a significant move by purchasing over $1 million worth of Bitcoin. This acquisition, initially leaked through an internal email on 4chan, was later confirmed by the bank’s press office. This marks the first time an Italian bank has invested in Bitcoin, signaling a pivotal shift in the country’s financial sector. The bank’s head of Digital Asset Trading and Investment, Niccolò Bardoscia, was identified as the signatory of the email. While Intesa Sanpaolo has not disclosed the reasons behind the purchase or its future crypto strategies, this development underscores the accelerating adoption of Bitcoin in traditional finance.