Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-faces-potential-sell-off-as-court-approves-genesis-gbtc-share-disposal" rel="noopener noreferrer nofollow">Bitcoin Faces Potential Sell-Off as Court Approves Genesis GBTC Share Disposal</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-price-predictions-the-good-the-bad-and-the-ugly" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price, currently standing at $51,440, might be headed for a drop following a significant development reported by Bloomberg. The industry is still grappling with the aftermath of the last ‘crypto winter,’ a period marked by tumultuous market conditions and asset sales by bankrupt companies. Recent events suggest that another wave of sell-offs could be imminent.</p>
<h2 id="potential-for-bitcoin-decline">Potential for Bitcoin Decline</h2>
<p style="text-align: justify">A recent court ruling could prompt a short-term price decline in Bitcoin. Genesis has obtained legal clearance to sell a substantial $1.3 billion in GBTC shares. With ETFs experiencing daily net inflows around $600 million, close to the recent peak demand levels, this court decision may trigger a market downturn in the near future.</p>
<h2 id="market-reaction-and-investor-alert">Market Reaction and Investor Alert</h2>
<p style="text-align: justify">Despite the approval for GBTC share sales, the continuous robust demand for spot Bitcoin ETFs suggests that investors should tread carefully. The market’s response to the news may not align with expectations, potentially leading to increased market volatility. Observers are keenly awaiting to witness the impact of these developments on the market.</p>
<p style="text-align: justify">The original article can be found at COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-price-could-face-a-drop/" data-wpel-link="internal" rel="noopener noreferrer nofollow" target="_blank">Bitcoin Price Could Face a Drop</a></p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-faces-potential-sell-off-as-court-approves-genesis-gbtc-share-disposal" rel="noopener noreferrer nofollow">Bitcoin Faces Potential Sell-Off as Court Approves Genesis GBTC Share Disposal</a></h5>

Bitcoin Faces Potential Sell-Off as Court Approves Genesis GBTC Share Disposal

Table of Contents

BH NEWS

Other articles published on Feb 14, 2024

Taurus, Lido partner to allow stETH client access

Lamborghini And VeVe Set To Launch A New NFT Car Collection This Week

Why You Could Turn $1000 Into $1M With This New Altcoin

XRP Price Prediction: A Fresh Rally Is Around The Corner?

Ethereum Staking Hits Swiss Banking Sector: A Taurus-Lido Collaboration

Exploring AI’s Impact on Cryptocurrency: Expert Takes from the Industry

Join our free newsletter for daily crypto updates!