According to ChainCatcher, Singapore-based crypto investment firm QCP Capital said that despite the U.S. government transferring 3,940 BTC to Coinbase Prime after obtaining liquidation approval, BTC continued to hold the $60,000 support level.
The reasons why he believes the $60,000 support level will hold are as follows:
- The German government has slowed down sending BTC to exchanges, sending just 250 BTC yesterday. This could be a sign that we are nearing the end of their current sell-off plan.
- After seven consecutive days of net outflows, BTC spot ETFs finally reported $52.4 million in net inflows in the past two days.
