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Bitcoin Price Today : Whale Selling and Market Fear Hit BTC Price🤯 🤯🤯🚨🚨🚨🚨🚨🚨🚨🚨🚨

What’s Fueling Heightened Bitcoin

Selling Pressure💣💣💣

Here are some factors that may be contributing to the heightened Bitcoin selling pressure ¹ ²:

- Mt. Gox creditor payouts: Mt. Gox, a defunct cryptocurrency exchange, has started payouts to its creditors, which has led to a large-scale liquidation of Bitcoin and spooked investors.

- Sales by government institutions: The US government and institutions affiliated with the German government have been selling their Bitcoin holdings, adding to the selling pressure.

- ETF sales: The bearish market perception has led to sales of Bitcoin ETFs, further exacerbating the selling pressure.

- Seasonal selling: Historical trends suggest that Bitcoin may be experiencing a period of seasonal selling activity.

- Fed's rate cut forecast: The Federal Reserve's scaling back of its rate cut forecast has also contributed to the selling pressure.

- High operational costs: Bitcoin miners are facing high operational costs post-halving, leading to increased selling pressure.