Breaking news:
Bitcoin (BTC) and Cryptocurrencies
Falling Again, May 31 Sales
Despite a lot of good news for investors, things can suddenly take a turn for the worse, and now we're seeing something like this. Although in many respects the developments are in the favor of cryptocurrencies, the latest event suddenly managed to reverse this. So how long will sales continue? What awaits investors?
Why Is Bitcoin Falling?
We recently mentioned that the Japanese crypto exchange DMM Bitcoin was hacked. After the exchange was hacked, BTCs worth over 300 million dollars were moved to 9 different addresses. This likely points to crypto mixers and assets going for sale. Investors also turned to selling to be cautious, with concerns that Bitcoin sales could drag the markets down.
BTC dropped to $67,264 at the time of writing. After creating 5 15-minute red candles, the recovery started, albeit weakly, at the time of writing. In its first statement, the stock exchange mentioned that all balances would be refunded to customers with the support of group companies. However, we may not be able to feel the support of today's positive macroeconomic data due to reasons such as the sale of these assets in the market and concerns that they will be sold.
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