Why did the entire circle fall sharply? Here are the reasons.

The negative factors affecting the Bitcoin market at present are mainly the following:

I): The German government sells seized Bitcoin:

The German government has begun selling 50,000 Bitcoins seized from the operator of Movie2k.to.

So far, 3,000 Bitcoins have been sold.

This move may trigger market concerns about selling, thereby affecting the price of Bitcoin.

II): Net outflow of funds from Bitcoin ETFs:

Bitcoin spot ETFs have experienced net outflows of funds in the past 7 days.

Some investors may be withdrawing from the Bitcoin market, which has a negative impact on market sentiment.

III): Geopolitical risks:

The Middle East war between Israel and Arab countries, as well as the tension between Russia and NATO, may have an impact on global financial markets.

These geopolitical risk events may trigger investors' risk aversion, resulting in capital outflows from risky assets such as Bitcoin.

IV): Mt. Gox compensation pressure:

Mt. Gox is expected to make its final compensation in October.

This may lead to a large number of Bitcoins being sold to raise compensation funds, thus exerting downward pressure on market prices.

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