Why is Bitcoin scarcity seeing a noticeable change across platforms?
Bitcoin is experiencing increasing scarcity, and the currency's price movements clearly reflect this development as new IntoTheBlock statistics show that an unprecedented proportion of Bitcoin's supply has been held for long periods.
Long-term investors are maintaining their investments in Bitcoin, as their ownership of the currency has increased since mid-2021, and they have continued to do so during periods when the market witnessed a decline.
They held 80% of the total Bitcoin available until October, which is a record percentage and the value of Bitcoin recently exceeded $35,000.
The data indicates a significant accumulation of investment between $25,000 and $31,000, which shows that investors are moving towards increasing their investments in the main digital currency. During the past month, Bitcoin witnessed a 25% increase in its value.
Also, there are expectations that reducing the availability of Bitcoin will increase its scarcity and thus increase the price.
There is optimism about the approval of Bitcoin investment funds in the United States, as investors carefully follow developments in this area.
Currently, there are many companies that have submitted applications to obtain approval for Bitcoin investment funds and decisions in this regard are expected to be issued soon, which could lead to an increase in demand for Bitcoin.
In the same context, institutional investors have shown great interest and are awaiting the approval of investment funds in Bitcoin to increase their investments, as it is believed that there are huge funds ready to invest in Bitcoin as soon as these funds obtain the necessary approvals.
But in an exciting and strange Bitcoin transfer incident, the leading blockchain company “ZachXBT” reported transferring a huge amount estimated at 4,800 Bitcoins, equivalent to about $144 million.
The suspicious source of this transfer goes back to the “Abraxas” platform, a digital marketplace on the dark web that has closed its doors and deceived investors in the past, especially in 2015.
The report indicates that the transferred funds passed through a group of cryptocurrency mixers, which are tools used to hide the trace of financial transactions.
This huge amount of Bitcoin was reported to have been transferred from the Abraxas dark market, which was previously known for facilitating illicit trade and was shut down due to fraud.
Some time after the market closed, the stolen funds began to resurface through suspicious movements tracked by researchers and analysts.
Despite the thefts and chaos that have occurred, the movement of funds remains the focus of investigators and cryptocurrency researchers.
ZachXBT provided a detailed look at how these funds moved from different wallets, and how cryptocurrency mixers were used to hide the origins of these transactions.
Reports indicate that some fraudulent users have moved to other platforms after the Abraxas market was closed.
While research and investigations are still underway to uncover more details about this suspicious transfer, the question remains as to how this will affect the cryptocurrency market and its users in the future.
