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>
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<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>
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<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!

Daftar Isi

Cointribune EN

Artikel lain yang dipublikasikan pada 14 Jul 2024

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