Attention everyone! Regarding the latest trend of Mentougou selling pressure, how many chips will hit the market? When will it end? In addition, FTX's repayment is also coming soon? You must be clear about these key points!
The light of hope in adversity. Binance, the largest main force in the cryptocurrency circle, announced a mysterious date! Last year, Binance had a 10 billion rescue move (industry recovery fund), which caused Bitcoin to surge 40% in a week. Can this miracle happen again? Which currencies are worth buying at the bottom now? Let's follow Shuqin to explore.
The first thing that everyone is most concerned about is the actual progress of the Mentougou selling pressure, whether it has started to repay the loan, and how many bitcoins are left to be sold.
Regrettably, even with the decline in the cryptocurrency market, Mentougou has only sold 2,700 bitcoins until noon today. The current decline is more of a panic sell-off, so that the 8 billion selling pressure has not yet started to be sold, and the cryptocurrency market has already fallen so badly, which is really worrying.
After being silent for a month, Mentougou's address has started to conduct multiple small transfer tests in the past two days to prepare for the transfer of funds to the exchange, which means that the real repayment is coming. Just at noon today, Mentougou transferred 2,700 bitcoins to the exchange for the first time, starting the repayment process, which may last for one to two months.
Fortunately, Mentougou repaid the debt directly in Bitcoin instead of selling the 8 billion into legal currency first and then repaying it.
Given that these creditors are all veteran players, and given the bull market expectations in the cryptocurrency market this year, most people will probably not sell the coins immediately after receiving them, so the actual selling pressure may be only around 20 to 30 billion.
In October, FTX will also start repayment, but this time the repayment will be in fiat currency rather than cryptocurrency, because FTX's coins have been sold out, so FTX's repayment will inject a lot of funds into the market. Many people will re-enter the encryption field after receiving the money. After all, there are strong bull market expectations at the end of the year, so in October there will be tens of billions of buying orders from FTX entering the market. This is a positive factor that many people have overlooked. By then, Mentougou's repayment will be completed and the negative news will be exhausted, and then FTX will release funds to enter the market, and the real bull market in the currency circle will continue to erupt at that time.
Talking about the current market situation, the main sellers are not whales, but come from Germany.
In the law enforcement process in recent years, Germany has seized a total of 50,000 bitcoins. There had been no movement before, but since the past two weeks, it has frequently transferred coins to multiple exchanges for sale. Currently, 10,000 bitcoins have been transferred out, worth about 600 million US dollars. There are still 2.4 billion US dollars worth of bitcoins in its wallet. Coupled with the Mentougou factor, the current market is indeed facing huge challenges.
Even Justin Sun couldn't hold back and called out to Germany, hoping to buy all of its coins through over-the-counter transactions to reduce the selling pressure in the market. Whether Sun Ge's move was to attract attention or not is not the point, but at least he was able to stand up and call for orders at this moment, which was somewhat helpful.
However, we have experienced this kind of market situation before. Whether it was the FTX collapse, the liquidation of Three Arrows Capital, or the COVID-19 pandemic, each of them was a negative factor worth tens of billions of dollars. In the end, Bitcoin rose again after falling by 20 to 30 percent.
As it turns out, those who buy at the bottom at that time will reap rich rewards in the following months, so give yourself some patience and give the market some time.
There is also good news at the moment. Binance, the largest force in the cryptocurrency circle and which has been silent for a long time, is very likely to make a major move on July 14. Last year, Binance even relied on the industry recovery fund to rescue the market, causing Bitcoin to surge 40% in just one week.
Let’s first look at what Binance official tweeted: Please remember this day.
Then the picture below is July 14th. Many people are speculating about the significance of this day. As a veteran player, Shu Qin knows that this day is the 7th anniversary of Binance’s establishment, and the two 7s on her sunglasses represent the 7th anniversary.
Let’s talk about Binance’s rescue. In March last year, Bitcoin also plummeted, from 25,000 to 19,000. In March last year, Bitcoin also plummeted, from 25,000 to 19,000.
Please pay attention! Regarding the latest situation of the Mentougou selling pressure, how many chips will have an impact on the market? When will it end? In addition, the repayment of FTX is also coming soon? You must be clear about this series of key points! Find the dawn of hope in adversity. The strongest main force in the currency circle, Binance, announced a mysterious date!
Last year, Binance launched a 10 billion rescue operation (industry recovery fund), which caused Bitcoin to surge 40% in a week. Can such a miracle happen again? Which currencies are worth buying at low prices? Let's follow Shuqin to explore. First of all, the actual progress of the selling pressure in Mentougou, which everyone is most concerned about, has it started to repay the loan, and how many bitcoins are waiting to be sold. It is regrettable that even though the currency circle is falling like this, Mentougou has just sold 2,700 bitcoins until noon today. At present, it is more of a panic decline.
The 8 billion yuan has not been sold yet, and the cryptocurrency market has already fallen so badly, which is really worrying. After a month of silence, the address of Mentougou has started to conduct multiple small transfer tests in the past two days to prepare for the transfer of funds to the exchange, which shows that the real repayment is about to start.
At noon today, Mentougou transferred 2,700 bitcoins to the exchange for the first time, starting the repayment process, which may last for one to two months. However, it is gratifying that Mentougou is repaying the bitcoins directly, rather than converting the 8 billion into legal currency first and then repaying.
They are veteran players, and the bull market in the cryptocurrency market is expected this year, so most people will not sell the coins immediately after receiving them, so the actual selling pressure may be only about 200 to 300 million. In October, FTX will also start to repay, but this time the repayment is in fiat currency.
For non-cryptocurrency, since FTX’s coins have been sold out, FTX’s repayment will inject a lot of funds into the market. Many people will re-enter the crypto field after receiving the money. After all, there is a strong bull market expectation at the end of the year, so FTX’s tens of billions of buying orders will enter the market in October.
This is a positive factor that many people have overlooked. When the repayment of Mentougou is over, the negative impact will be eliminated, and then FTX will release funds to enter the market. The real bull market in the cryptocurrency circle will continue to explode at that time. When it comes to the current market, the main sellers are not whales, but
It is from Germany. In the process of law enforcement in recent years, Germany has seized a total of 50,000 bitcoins. There has been no movement before, but in the past two weeks, it has frequently transferred coins to multiple exchanges for sale. At present, 10,000 bitcoins have been transferred out, with a value of about 600 million US dollars. There is still a valuable amount in his wallet.
With 2.4 billion USD of Bitcoin and the Mentougou incident, the current market is indeed facing huge challenges. Even Justin Sun couldn’t help but call out to Germany, hoping that
He hopes to buy all the coins in his hands through over-the-counter transactions to reduce the selling pressure in the market. Whether Sun Ge did this to attract attention is not the point, but at least he can
At this time, stepping forward to call orders can be considered helpful. However, we have experienced this kind of market before. Whether it is the FTX crash, the liquidation of Three Arrows Capital or the COVID-19 pandemic, each of them is a negative factor of tens of billions of dollars. In the end, Bitcoin rose again after falling by 20 to 30 percent. And the facts have proved that the bottom-fishing at that time will be in the following months.
Get rich returns, so give yourself some patience and give the market some time. There is not no good news at the moment.
Binance, which has been silent for a long time, is very likely to make a major move on July 14. Last year, Binance even relied on the industry recovery fund to rescue the market, causing Bitcoin to surge 40% in just one week. Let’s first look at what Binance’s official tweet said: Please remember this day. Then the picture below is July
On the 14th, many people were speculating on the significance of this day. As a veteran player, Shuqin knew that this day was the 7th anniversary of Binance, and the two 7s on her sunglasses represented the 7th anniversary. Talking about Binance's rescue, Bitcoin also plummeted in March last year, from 25,000 to 19,000. In March last year, Bitcoin also plummeted in March, from 25,000 to 19,000.
