Bitcoin Traders Target $50K as Billions in BTC Selling Pressure Looms
Submitted by Anonymous (not verified) on Fri, 07/05/2024 - 15:10“The German government still has over $2.3 billion worth of bitcoin, Mt.
“The German government still has over $2.3 billion worth of bitcoin, Mt.
Miners need to continually sell bitcoin rewards to keep operations afloat, and they are stressed during a market downturn.
Traders previously warned of the bearish market reaction to Mt. Gox’s bitcoin repayments.
A wallet belonging to a German official entity moved its largest stash of BTC to exchanges earlier today, while Mt.
Solana’s SOL and dogecoin (DOGE) lead losses among major tokens, with the CoinDesk 20 index down 4.8%.
The MEW character will be featured on TON, the network where Pixelverse’s Telegram mini-games operate, in a first for a Solana meme coin.
U.S.-listed ETFs ended a five-day inflow streak with $13 million in net outflows on Tuesday.
The blockchain was paused early Wednesday to contain the exploit, with security researchers suspecting a private key leakage.
The blockchain spent $87 million in the first six months this year, with marketing activities accounting for the majority of expenses.
Ether-tracked investment products have collectively lost nearly $120 million in the past two weeks while bitcoin products recorded inflows.
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