Something bearish is going on the market right now!

There are high chances we may go lower because of these 3 events👇

1️⃣ US Government selling Bitcoin

The story begins way before yesterday. When Germany sold $2.9 billion in BTC, US started some movements too.

And after 3 weeks of silence, on July 22 at 11:30 IST, US moved 58.742 BTC (almost $4 million) to Coinbase.

That's less than 1% of BTC's 24-hour trading volume, so there was almost no impact.

But why am I telling you this? The reason is that money is from Ryan Farace. In 2018, he was accused of selling Xanax.

The US government got 2,933 BTC from this case (almost $195.5 million).

Why did they sell 58.742 BTC? That's because it's the exact amount from the DOJ pre-release.

And high chances they won't stop only on $4M. They might sell all 2,933 BTC.

2️⃣ Mt. Gox first transfers

Today, at 10:30 IST, Mt. Gox transferred 42,587 BTC ($2.85B) to an unknown address.

That all happened after yesterday's test transaction of 0.021 BTC.

Right after the $2.85 billion transfer, Bitcoin dipped 1.84%.

But it's not the end yet. An hour later, they moved 5.11K BTC. Together, that's 47,697 BTC (almost $3.2B).

The overall repayment is $9 billion. And the sum Mt. Gox moved today is only 35%.

Let's keep an eye on future events since they still hold 90K BTC.

3️⃣ BlockFi refunds

This bankrupt crypto lender soon will distribute money to its clients.

On Wednesday, 17th July, they announced the beginning of them via Coinbase.

The first pay will be this month; there's still no data on the sum.

Future US selling, Mt. Gox and BlockFi refunds can postpone the future bull run.

The only question is, when will it all happen?