{"id":36391,"date":"2024-08-21T12:24:01","date_gmt":"2024-08-21T12:24:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/vanecks-matthew-sigel-sees-bitcoin-surge-ahead-firm-accumulates-btc-heres-whats-driving-it\/"},"modified":"2024-08-21T12:24:01","modified_gmt":"2024-08-21T12:24:01","slug":"vanecks-matthew-sigel-sees-bitcoin-surge-ahead-firm-accumulates-btc-heres-whats-driving-it","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/vanecks-matthew-sigel-sees-bitcoin-surge-ahead-firm-accumulates-btc-heres-whats-driving-it\/","title":{"rendered":"VanEck\u2019s Matthew Sigel Sees Bitcoin Surge Ahead, Firm Accumulates BTC \u2013 Here\u2019s What\u2019s Driving It"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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VanEck, a prominent financial giant, has been accumulating Bitcoin (BTC) amidst recent market activity, according to Matthew Sigel, the firm\u2019s head of digital assets research. Sigel explained that the market has witnessed significant selling pressure from several key sources, which have contributed to a temporary dip in Bitcoin\u2019s price.<\/p>\n

Major Sellers Exit the Market<\/h2>\n

Sigel identified four major sellers driving the recent decline in BTC\u2019s value. He mentioned that the German government liquidated $2 billion worth of Bitcoin, while the U.S. government has been offloading coins related to the Silk Road case. Additionally, creditors from two significant bankruptcies, Mt. Gox and Genesis, have recently received payouts, further contributing to the selling pressure.<\/p>\n

Despite these factors, Sigel noted that this trend is consistent with Bitcoin\u2019s typical seasonal pattern. \u201cThis is a typical seasonal pattern where Bitcoin tends to struggle in the one-three months after the halving,\u201d<\/em> he said. The recent halving took place in April, and the market is now adjusting. However, Sigel remains optimistic about Bitcoin\u2019s future performance, particularly as the U.S. approaches the next presidential election.<\/p>\n

VanEck\u2019s recent Bitcoin purchases align with its broader strategy in the cryptocurrency space. The firm is one of several traditional financial institutions that have launched spot exchange-traded funds (ETFs) tied to Bitcoin and Ethereum (ETH) this year. Moreover, VanEck has filed an application with the U.S. Securities and Exchange Commission (SEC) for a Solana (SOL) ETF<\/a>, highlighting its commitment to expanding its crypto offerings.<\/p>\n

As of now, Bitcoin is trading at $59,372.47, and VanEck remains confident in the asset\u2019s potential to recover and thrive in the coming years.<\/p>\n

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Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) VanEck, a prominent financial giant, has been accumulating Bitcoin (BTC) amidst recent market activity, according to Matthew Sigel, the firm\u2019s head of digital assets research. Sigel explained that the market has witnessed significant selling pressure from several key sources, which have contributed to a temporary dip […]<\/p>\n","protected":false},"author":34,"featured_media":36392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36391"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36391"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36392"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}