Bitcoin surge to $52k faces threat from two major sell off events..
In a recent turn of event bitcoin price has experienced a significant surge breaking $52000 mark for the first time in two years. This milestone was acknowledged by spot on chain a prominent cryptocurrency analysis
It is noted that bitcoin price has seen a steady
Increase of the past seven days , culminating in this notable achievement.however this resurgence in bitcoins value is now under threat from two major sell off events that could potentially impact its short term price trajectory.
The first event concerns the approval granted to genesis a key player in the crypto market to sell a substantial amount of grayscale bitcoin trust (gbtc) shares the sale involved 35million Gbtc shares valued at approximately $1.3billion