The US government's transfer of BTC, Mt.Gox and Genesis repayments have brought panic selling pressure to the market
BlockBeats news, on August 3, QCP Capital posted on its official channel that this week the market rudely reversed the positive rise brought by Trump to the cryptocurrency market, and the price of BTC fell from a high of 70,000 after the speech to nearly 60,000 this morning. The reasons for the decline include selling pressure from the US government (about 28,000 BTC),
Mt.Gox (33,960 BTC) and Genesis (worth $1.5 billion in BTC and ETH); Bitcoin mining difficulty has been raised to a record high, and people's expectations of a recession have increased. Judging from the options market data, price fluctuations are expected to stabilize in the summer.
