đ On Monday, the crypto market stabilized after large-scale selling. đ©đȘ The German government transferred more than 10,000 Bitcoins to crypto exchanges and market makers. However, Bitcoin price fell below $55,000. đź According to Arkham Intelligence data, 2,898 Bitcoins that exchanges returned to the German government came from Coinbase, Kraken and Bitstamp.
đ The Block research manager Steven Zheng stated that the exchanges returned Bitcoin because they could not sell it within the target price range. Bitcoin fell to $55,200 on Monday but rebounded to $56,662.40 after the US stock market close.
đ The total market value of cryptocurrencies is 2.07 trillion dollars, and Bitcoin's market share is 53.5%.
đ€ Has the impact of the German government's sales pressure been exaggerated?
đ According to CoinShares data, the amount entered into digital asset investment products last week was 441 million dollars.
đź Bitfinex analyst stated that Bitcoin has reached a potential local bottom.
đŻ Tyr Capital CIO Ed Hindi claimed that the current correction is temporary and the price of BTC will be in six figures by the end of the year.