📢 Key Reason Why Bitcoin (BTC) Is Crashing Despite Surging Stocks: 🤔🤔
🔥Is the selling spree initiated by the German government responsible for Bitcoin's underperformance?
✍️ The price of Bitcoin, the largest cryptocurrency by market cap, is losing ground despite the strength of the US stock market.
✍️ The flagship cryptocurrency slipped to an intraday low of $64,544 after reaching a peak of $66,436, according to CoinGecko data.
📺 The recent bearishness could be related to the Bitcoin selling spree initiated by the German government. According to data provided by analytics platform Arkham Intelligence, the German government sent $65 million to two likely exchange deposits including Coinbase. Notably, Ki Young Ju, founder and CEO of on-chain analytics platform CryptoQuant, has noticed that selling pressure is primary origination from the Coinbase exchange.
