Haloxylon ammodendron’s latest #BTC Earlier this month, Bitcoin suffered a series of blows that caused its price to drop significantly. Key factors include the need for miners to adjust their BTC holdings after the Bitcoin mining reward halving in April, the German government’s massive sell-off, and the Mt. Gox exchange launching a repayment process to creditors.

It’s worth noting that Germany’s Bitcoin liquidation operation, which initially stemmed from nearly 50,000 Bitcoins confiscated by the government from a film pirate, is now in its final stages and has now sold approximately 40,000. At the current rate of selling, the German government’s Bitcoin inventory may soon bottom out. The move was criticized by Bitcoin advocates among German parliamentarians, who argued that the government should retain the scarce digital asset rather than rush to liquidate it.

A report from Bitfinex gave a more optimistic perspective, stating that "possible local lows have bottomed." The report emphasizes that although the German government continues to sell large amounts of BTC, the impact of this part of the funds is actually relatively limited relative to the total transaction volume in the past year. In addition, signs of stabilization in volatility indicators indicate that the market is expected to enter a period of relative stability in the future. The convergence of implied and realized volatility suggests that Bitcoin price may be consolidating around current levels or experiencing a smaller correction.

These observations mean that despite the short-term pressure, the Bitcoin market may be gradually finding its new equilibrium point. #美国6月CPI大幅降温 #币安7周年 #美联储何时降息？ #美国大选如何影响加密产业？ $BTC $ETH $BNB