Bitcoin

Captain

<p>The Bitcoin market could experience a spectacular recovery following the completion of Germany’s $2.9 billion BTC sale. Despite the downward pressure exerted by this massive liquidation, analysts predict an imminent rebound in the price of the queen of cryptos.</p>
<h2 id="h-the-end-of-a-period-of-turmoil">The end of a period of turmoil</h2>
<p>The <a href="https://www.cointribune.com/en/crypto-massive-btc-liquidation-by-germany-and-the-usa/" target="_blank" rel="noopener noreferrer nofollow">German government</a> has just completed the liquidation of its substantial Bitcoin stock, acquired during judicial seizures. This large-scale operation, spread over several weeks, ended on July 12 with the sale of the last 3,846 BTC.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>In total, the German government sold nearly 50,000 BTC, amounting to approximately $2.9 billion.</p>
<p>This <a href="https://www.cointribune.com/en/bitcoin-a-german-parliamentarian-opposes-the-sale-of-btc-by-the-government/" target="_blank" rel="noopener noreferrer nofollow">controversial decision</a> has sparked sharp criticism, notably from Joana Cotar, a member of the federal parliament. According to her, Bitcoin should have been considered a “national strategic reserve,” particularly in a difficult economic context. Despite these reservations, the government upheld its position, favoring a complete and rapid liquidation.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-institutions-seize-the-opportunity">Institutions seize the opportunity</h2>
<p>Against all odds, Bitcoin has shown remarkable resilience in the face of this massive selling pressure. Although its price remained below the symbolic $60,000 mark, the crypto managed to limit its losses.&nbsp;</p>
<p>This robustness is partly explained by the growing interest of institutional investors, as evidenced by significant capital inflows into the American <a href="https://www.cointribune.com/en/bitcoin-etfs-record-positive-flows-for-the-5th-consecutive-day/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a>.</p>
<p>Analysts remain optimistic about Bitcoin’s near future. The renowned expert Captain Faibik <a href="https://www.cryptopolitan.com/germany-liquidation-of-2-9b-in-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">anticipates</a> an imminent bullish breakout, targeting an ambitious goal of $70,000. This forecast is based on the technical analysis of the descending broadening wedge pattern (DBW) observed on the BTC/USDT chart.</p>
<p>Bitcoin thus seems ready to embark on a new bullish phase, leaving behind the turmoil related to the German liquidation. Investors remain attentive, ready to seize this potential opportunity in a crypto market in full revival.</p>

German pressure lifted, Bitcoin ready to explode!

Table of Contents

Cointribune EN

Other articles published on Jul 14, 2024

XRP’s Potential ETF Prospects Hinge on SEC’s Ripple Case Outcome

MoonBag Initiates Best Crypto Presale, Bitcoin Cash and Bonk Watch in Awe

Donald Trump Issues Official Statement On Assassination Attempt

How DAMN's Cross-Chain Move Could Benefit Shibarium and BONE

How BlockDAG’s $57.9M Presale Supports Its Climb to $10 by 2025: A Look at Cardano and Ethena Trends

Crypto Regulation and BitMEX AML Violation: BitMEX Expects ‘No Further Fines’ for ‘Old’ AML Viola...

Join our free newsletter for daily crypto updates!