📊Since yesterday there are no changes on the market. Most likely, #BTC☀ has entered another accumulation, alts are holding up well, but it's too early to buy back on spot, we need to wait for clear formations and good #newsdaily would be brought and we can fly up. #CryptoTradingGuide #CryptoTradingGuide #CryptoTradingGuide $BTC
The German government fuds the market again... Leave a way for the leeks to live! The German government transferred 900 $BTC ($54.76 million) again 19 hours ago. Summary of the German government's sell-off in the past seven days: The German government net transferred out 3,500 $BTC , totaling up to $225 million, most of which flowed to CEX, with an average price of $64,364. The remaining stock of the German government: 46,359 $BTC were not sold, totaling up to about $2.88 billion. The market fud fell 📉, and the German government contributed greatly! $BTC fell 5.18% (7D), which may be affected by important news such as the German government's action on BTC and Mt.Gox's repayment in July. #CryptoTradingGuide #CryptoTradingGuide #CryptoTradingGuide #CryptoTradingGuide #CryptoTradingGuide
In a surprising move, the German government has sold off a whopping $24 million worth of #Bitcoin over the past week. 😱 This massive sell-off comes as the cryptocurrency market continues to experience high volatility. 📊
The German government's decision to sell off such a large amount of $BTC raises questions about their stance on the future of cryptocurrency. 🤔 Are they cashing out due to concerns about the market's stability, or do they have other motives? 💭
This move could have significant implications for the #cryptocurrency market, as it may signal a lack of confidence in Bitcoin's long-term potential. 📉💭
- Bitcoin (BTC) recently dipped below the $60,000 mark. This has caught the attention of investors and traders worldwide.
- **Why?** Well, all US-based miners are now operating at a loss. They're facing financial pressure and need to sell their BTC holdings to cover costs. This situation is reminiscent of the worst-case scenario we discussed back in March.
- **Miner Centralization Impact**: The concentration of mining power among a few major players means their actions and economic decisions significantly affect Bitcoin's price. When they sell, it puts downward pressure on the market.
- 🛑 **Red Flags**: The red zone for miners and the need to sell can create a bearish sentiment.
2. **ETF Buyers in the Red**: - Exchange-Traded Fund (ETF) buyers who entered the market during the bullish phase are now sitting on losses. Their portfolios are bleeding.
- 🤔 **What to Expect?**: Keep an eye out for capitulation. When ETF holders give up and sell, it could lead to further price declines.
- 📉 **Revisiting 48k**: If this happens, we might see Bitcoin revisiting the $48,000 level.
3. **Economic Outlook**: - By late August or September, job losses are expected to mount rapidly. The Federal Reserve (Fed) may respond by cutting interest rates.
- Contrary to expectations, traditional stocks may not rally. Instead, the lofty valuations of AI-related companies could burst.
- 💥 **Markets Speak**: Remember, markets tend to reflect reality. They're not swayed by wishful thinking.
4. **Mt. Gox and German Seized BTC**: - The recent decline isn't directly tied to Mt. Gox (the infamous exchange that collapsed years ago) or German authorities selling seized BTC.