Story Behind $BTC Dump
Why is Bitcoin falling? $63,500 was seen
Bitcoin, which exceeded $70,000 at the beginning of the week, failed to hold on to this level again and experienced a sharp decline. The biggest cryptocurrency fell to $63,500 with the sharp decline following the Fed's decision to leave interest rates steady.
Bitcoin, which rise above $70,000 on Monday, fell sharply following the Fed's decision. Bitcoin, which was around 66 thousand dollars before the Fed decision, experienced slight decreases and decreased to the level of 65 thousand dollars when Powell started to talk. Although there was no negative message from Powell, the level of the decline increased at night and the price decreased to $63,500.
Of course, the decline of Bitcoin also negatively affected altcoins. The value of the market, known as TOTAL3, followed by altcoin investors, decreased to the level of 600 billion dollars.
There may be increased tension in the Middle East
It is stated that there may be increasing tension in the Middle East behind the decreases. While the murder of Hamas leader Haniyeh by a bomb attack in Tehran, the capital of Iran, was on the world agenda, harsh warnings came from Iran to Israel. Experts are concerned that the tension will spread to other countries.
As it will be remembered, the tension between Israel and Iran increased in April and the two countries made UAV attacks on each other.
While the risky assets fell in the war environment, the rise below drew attention. Gold has risen 3.5% in the last 5 days.
MtGox sent another 2 billion dollars
Along with all this, it is not overlooked that the MtGox exchange sent more than 2 billion dollars worth of Bitcoin yesterday to an unknown address and a statement that the payment was made on July 31 at night.
It is stated that the last address that MtGox transferred belongs to BitGo, but this situation is still not certain.
MtGox still has more than 30 thousand BTC. As a result of these distributions, the sales made by the customers may also have an effect on the price decline. $BTC