Satoshi

Bitcoin ETF

James

<p>Bitcoin’s bearish momentum isn’t slowing down as its price has continued to decline following Thursday’s breakdown below the $60,000 support level.&nbsp;</p>
<p>According to <a href="https://x.com/WhaleWire/status/1809058489211166995" target="_blank" rel="noopener noreferrer nofollow">On-chain analytics firm, WhaleWire</a>, this is the second-largest liquidation event in Bitcoin’s history, surpassed only by the dip that followed FTX exchange bankruptcy filing in November 2022.</p>
<h2 class="wp-block-heading" id="factors-behind-the-price-drop">Factors Behind the Price Drop</h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">JUST IN: On-chain data confirms this is the second-largest liquidation event in <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a>'s entire history, right after the <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FTX</a> collapse in November 2022.<br><br>This comes amidst news that Germany is selling $3.5B worth of seized <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BTC</a>, and Mt. Gox begins paying back $8.5B to… <a href="https://t.co/Cf1GJgU1ga" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Cf1GJgU1ga</a></p>— WhaleWire (@WhaleWire) <a href="https://twitter.com/WhaleWire/status/1809058489211166995?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 5, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>Several key factors have contributed to this massive liquidation event:</p>
<ol>
 <li>German BTC Sales: The German government has initiated the sale of $3.5 billion worth of seized Bitcoin.&nbsp;&nbsp;</li>
 <li>Mt. Gox Repayments: Mt. Gox has started the process of repaying $8.5 billion to its creditors. There is FUD that the creditors will soon begin dumping their BTC.</li>
 <li>Market Sentiment: The combination of these large-scale sell events has triggered a wave of panic selling.</li>
</ol>
<h2 class="wp-block-heading" id="strong-market-corrections-happen-during-bull-rallies-strong"><strong>Market Corrections Happen During Bull Rallies</strong></h2>
<p>Despite the price drop, it’s important to understand that such corrections are very common during bull markets. Bitcoin and the overall crypto market have previously recovered from major price dumps.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">UPDATE: We've got another amended S-1 from <a href="https://twitter.com/BitwiseInvest?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@BitwiseInvest</a> for their <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Ethereum</a> ETF. Expect more from other issuers throughout the rest of the week. We're thinking these things could potentially list later next week or the week of the 15th at this point. <a href="https://t.co/xqVlt9lSGy" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/xqVlt9lSGy</a></p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1808578852030947728?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 3, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The general market has hope for the upcoming launch of spot Ethereum ETF, as it is expected to bring more capital into ETH and other altcoins. This could change the whole bearish sentiment quickly.&nbsp;</p>
<p>Popular Bloomberg analyst James Seyffart thinks the ETH ETF could start trading around July 15. Many other analysts suggest we could see the ETFs this month or in August, which could make the market recover, just like it happened with Bitcoin ETF approvals.</p>
<p><strong><em>Read more: <a href="https://captainaltcoin.com/why-is-the-crypto-market-down-today-33/" target="_blank" rel="noopener noreferrer nofollow">Why Is the Crypto Market Down Today?</a></em></strong></p>
<p><em><strong>Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?<br>Get all our future calls by joining our <a href="https://t.me/captainaltcoincom" target="_blank" rel="noopener noreferrer nofollow">FREE Telegram group.</a></strong></em></p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/REBEL-SATOSHI-RECQ-MEME-COIN-qndahijqjwle5mml7gg8my30uqig0eo11vxmtat25a.png" width="500" alt="Check $RECQ Meme Coin" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-recq-meme-coin-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check $RECQ Meme Coin</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy RECQ Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Serves as the base currency for all transactions within the Rebel Satoshi platform <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>ICO stage, offering tokens at a discounted price <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade, <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/second-largest-bitcoin-btc-price-collapse-in-history-just-happened-but/" rel="noopener noreferrer nofollow">Second-largest Bitcoin (BTC) Price Collapse in History Just Happened, But…</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Second-largest Bitcoin (BTC) Price Collapse in History Just Happened, But…

Table of Contents

CaptainAltcoin

Muita 5. heinäk. 2024 julkaistuja artikkeleja

How One Crypto Whale is Turning Market Panic into Profit

PawFury (PAW) Ascends Beyond $4M, Beats Chainlink and Book of Meme as the Top Crypto Presale in 2024

SBF family linked to $100M FTX scandal, legal trouble looms

Top Blockchain Airdrops 2024

Sportsbet.io Player Wins $3m on Ambitious 7-way Multi-bet

Whale Sale Causes Dogecoin to Plunge

Join our free newsletter for daily crypto updates!