Bitcoin price continues to increase in recent days. The German government's halt to sales is considered an important step. However, Mt. Developments regarding Gox may worry investors.

Mt. crypto exchange, which went bankrupt on July 16. Gox-related FUD (fear, uncertainty and doubt) analysis came to the fore again, which caused Bitcoin to lose more than 3% in value. According to TradingView data, although the Bitcoin price reached $65,000 on centralized exchanges, this movement remained under pressure. Crisis, Mt. It started with the movement of Bitcoins belonging to Gox between wallets within the framework of the rehabilitation program.

According to data from blockchain data analysis platform Arkham, Mt. 92,000 Bitcoins worth approximately $5.7 billion were released from Gox's cold wallet; this accounts for nearly two-thirds of the exchange's total assets. On-chain data analysis platform Look Into Bitcoin shared the following information on the subject: Mt. Gox's similar situations in the past had a negative impact on the price with the start of the repayment process to creditors and brought about the fear of mass Bitcoin sales. However, some experts think that these concerns do not correspond to reality.

Crypto investor and YouTuber Quinten Francois pointed out that this process could start a new FUD phase on the X platform. It is also reported that the selling pressure that has affected the markets recently is due to the German government due to the depletion of confiscated Bitcoin stocks.

Among the important details on the subject, it is stated that Bitcoin has maintained its best performance for months. BTC/USD last hit $65,000 on June 21, a significant level for Bitcoin's short-term cost of ownership. Speculators' cost basis, called the realized price, often acts as support in bull markets and was last violated in August 2023. Look Into Bitcoin set its short-term cost of ownership floor at $64,835 as of July 15.

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