🔴🔴 BIGGEST REASON of MARKET DECLINE today
I just read news that the German government sold over 10,000 #bitcoins this month, causing a market decline. They've been selling off, and coupled with negative news about Mentougou's repayment, it seems odd. Many big investors own 10,000 bitcoins or more. American ETFs hold tens of thousands, even millions. Why would they worry about just 10,000 being sold off?
Recently, someone mentioned that Sun was willing to buy the remaining coins from Germany off-market to prevent them from flooding the market. Others asked why he doesn't do the same for Mentougou's coins. The German government's sale is simpler because they can sell all at once, while Mentougou's process is complex with various rules and methods. They plan to sell 140,000 coins over ten years. But with ETFs worldwide now, buying that many coins over a decade shouldn't be a concern.
Today's market crash might be a setup for the upcoming Ethereum spot ETF launch. The sale of German coins is clearing the market. Stay calm through this washout. Once the Ethereum ETF launches, there could be a strong rebound. Ethereum might even reach $4,000 again soon. Hold steady and wait it out!