2024

Bitcoin

Hedge

<p>The crypto market is facing a potential selling pressure, particularly for Bitcoin, which could be affected by short positions of hedge funds on the CME (Chicago Mercantile Exchange). Analysts warn of a possible drop in BTC to 60,000 $<strong> due to massive sales</strong>!</p>
<h2 id="h-bitcoin-in-danger-selling-pressure-threatens-the-market">Bitcoin in danger! Selling pressure threatens the market</h2>
<p>This situation is exacerbated by recent movements of the German government. They have transferred <a href="https://www.cointribune.com/en/germany-continues-to-dump-bitcoin-will-the-market-hold/" target="_blank" rel="noopener noreferrer nofollow">more than $150 million</a> in BTC to exchange platforms Bitstamp and Kraken. These governmental actions could influence the already volatile crypto market and contribute to the observed selling pressure.</p>
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<p>The significant volatility of Bitcoin over the past week saw the cryptocurrency drop to a monthly low of $58,649 on June 24. Although BTC rebounded above $61,000, this drop has been linked to strong bearish sentiments in the market. Santiment reported that the crypto community had shown extreme negativity towards BTC in the weeks preceding the drop.</p>
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  <figcaption class="wp-element-caption"><em>Negativity towards Bitcoin</em>
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<h2 id="h-crypto-investors-take-advantage-of-the-current-volatility">Crypto investors take advantage of the current volatility</h2>
<p>Bitcoin ETFs have also seen a series of outflows for seven days. This led to <a href="https://x.com/cryptocom_rni/status/1805911517415494097?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">net outflows</a> of $542 million. Meanwhile, some Bitcoin holders are taking advantage of the recent price drop to accumulate. Analyses revealed that addresses controlling at least 0.1% of the total BTC supply added 7,130 bitcoins! This amounts to $436 million to their portfolios on June 24.</p>
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     <p lang="en" dir="ltr">Despite market FUD, the net inflow to Bitcoin's largest wallets reached its highest level since late May. <br><br>Holders controlling at least 0.1% of the total BTC supply added 7,130 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a>, valued at approximately $436 million, to their wallets yesterday alone. <a href="https://t.co/elMilAgK58" rel="noopener noreferrer nofollow">pic.twitter.com/elMilAgK58</a></p>— IntoTheBlock (@intotheblock) <a href="https://twitter.com/intotheblock/status/1805572372184920403?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 25, 2024</a>
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<p>The Bitcoin market is currently facing potential selling pressure that could lead to price drops. Hedge funds’ movements, governmental actions, and market sentiments are all <a href="https://www.cointribune.com/en/bybit-report-bitcoin-crushes-stablecoins/" target="_blank" rel="noopener noreferrer nofollow">playing a role in this dynamic</a>. While some institutional investors see an opportunity for accumulation, caution remains advised in light of market uncertainty.</p>

Bitcoin Collapses Under Pressure, Investors Seize Opportunity

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