Bitcoin continues to consolidate in the $42K to $45K range following a fear-driven drawdown earlier in the year. The asset remains within its Buy Zone (see chart below).
According to data from Glassnode, Bitcoin’s rolling seven-day exchange outflow volume has reached a five-month low of $40.8M. This suggests that investors are rapidly accumulating Bitcoin.
A recent survey by Morning Consult revealed that 37% of the underbanked population in the U.S owned digital assets (see ‘Story of the Week’ below).
2022 has begun with a flurry of big crypto initiatives from Walmart, FTX, and BlackRock as well as news from countries like India, China and Brazil. See the ‘Top News’ section for a full breakdown of these stories.