Overview of bearish factors
1. German government sells bitcoin
Details: The German government has started selling 50,000 seized bitcoins, and has sold 3,000 so far.
2. Bitcoin ETF fund outflow
Details: Bitcoin ETF has seen a 7-day net outflow recently, and market confidence has been dampened.
3. International tensions
Details: The conflict in Syria and the Middle East, as well as the tensions between Russia and Europe, have had a bearish impact on the digital currency market.
4. Compensation for the Mentougou incident
Details: The Mentougou Exchange will make the final compensation in October, and the market is worried about the huge selling pressure that may be triggered.
