Bitcoin is under pressure
The market was clouded by negative news from Mt.Gox, which will distribute up to 143,000 bitcoins in July.
Bitcoin mining companies sold $1.8 billion worth of bitcoin in June, which undoubtedly brought a huge impact to the market.
Since June 15, the Bitcoin ETF has suffered $1 billion in outflows, making its situation even more difficult.
The German government also sold $200 million worth of bitcoin, further exacerbating the pressure on Bitcoin.
By analyzing these reasons, you can clearly understand the future direction of Bitcoin.
