The real reason for the market decline!
1. The German government continues to sell!
The German government began to transfer and sell in June this year, selling a total of about 9,600 bitcoins, and currently holds 40,359 BTC.
On June 19, 6,500 bitcoins were sold on the same day;
On June 25, at 5:20 p.m., 400 were transferred to the exchange and 500 to other addresses;
On June 26, at 3:50 p.m., 750 were transferred out;
On July 1, at 4:26 p.m., 400 were transferred out to the exchange; and then 282.74 were transferred out to multiple exchanges;
On July 2, at 7:20 p.m., 361.877 were transferred to Flow Traders;
2. Mentougou is ready to pay!
The Mentougou compensation issue has aroused market concerns. The selling pressure of up to 142,000 BTC and 143,000 BCH caused market panic on June 24, and the price of BTC dropped to 60,000. US dollars.
However, since the transfer was not actually distributed at that time, the 60,000 US dollar mark was maintained.
According to the official website documents disclosed earlier, the Mt.Gox trustee stated that the BTC and BCH repayment work will be started from the beginning of July.
On July 4, according to the latest display of the Arkham platform, Mentougou has made a test transfer at 12:00 today.
The market has already started a sharp drop at about 9 o'clock today. Although the selling force is not Mentougou, it also casts a shadow on the market confidence in the future. After all, the large amount of selling pressure is ahead, and no one is willing to stand under the dangerous wall.
