The crypto market continues to bleed and FUD takes over market sentiment.
A major cause is due to the German government continuously selling its Bitcoin holdings.
Tron founder Justin Sun offers to buy all of Germany’s remaining Bitcoin to stop market dip.
The crypto market continues to bleed heavily. There seems to be no end to the continuous fall in Bitcoin’s (BTC) price today. Presently, Bitcoin’s price is at $57,606 and continues to move at a downward pace. Amidst the panic and FUD spreading in the space, TRON Founder Justin Sun steps up to save the crypto market from dipping further.
In detail, CEO and Founder of Tron, Justin Sun notices that one of the main reasons for the continuous fall of Bitcoin (BTC) is due to the fact that the German government keeps dumping the pioneer crypto asset by selling its large Bitcoin holdings.
This could be very true. In fact, a huge contribution to the fall of Bitcoin’s (BTC) value over the last few weeks is because the German government has moved its Bitcoin (BTC) holdings to crypto exchanges and continues to sell.
German Government keeps dumping #Bitcoin 3K Bitcoin ($175m) sent to exchanges in the last few hours pic.twitter.com/D0XSTNkvjh
— Thomas | heyapollo.com (@thomas_fahrer) July 4, 2024
A few days ago, Germany moved 750 Bitcoin on top of Bitcoin they had already moved towards crypto exchanges. Furthermore, from the post above, Germany moved another $175 million worth of Bitcoin to crypto exchanges and continues to sell.
Having seen the tragic fall of Bitcoin (BTC) over the last few weeks, Justin Sun steps up with a heroic proposal that could stop the further fall of Bitcoin (BTC) price. This intention from Justin Sun was made public on his TwitterX post as seen below.
I am willing to negotiate with the German government to purchase all BTC off-market in order to minimize the impact on the market.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 4, 2024
Indeed, Justin Sun himself said not less than an hour ago that he is willing to negotiate with the German government to purchase all their Bitcoin (BTC) holdings off market to minimize the harsh impact on the crypto market.
The response from the crypto market has been huge. Justin Sun’s declaration and intention to save the crypto market from further fall has been well noticed by the greater crypto community. Will Germany meet his offer and will this event finally trigger the golden bull run spike?
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The post Crypto Market Dump Could Reverse if Germany Accepts Justin Sun’s Offer to Buy its Remaining BTC Holdings appeared first on Crypto News Land.