2024

TRUMP

Silk Road

<ul> 
 <li>Bitcoin surged to $70,000, then fell below $67,000, causing $185 million in liquidations.</li> 
 <li>U.S. government’s $2 billion BTC transfer linked to the Silk Road sparked trader concerns.</li> 
 <li>Trump’s pledge to halt federal crypto sales and Lummis’s national Bitcoin reserve proposal added to market turmoil.</li> 
</ul> 
<p>In March, the price of <a href="https://cryptonewsland.com/furrever-token-furr-presale-shows-promise/" target="_blank" rel="noreferrer noopener">Bitcoin hit $70,000</a> before tumbling below $67,000. This significant volatility created market chaos, with $185 million in liquidations over the last 24 hours. Bitcoin-related positions were the hardest hit, with $48 million in Bitcoin long positions liquidated within just four hours.</p> 
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   <p lang="en" dir="ltr">A TRUMP DUMP? MAJOR VOLATILITY INCOMING <br><br>– Bitcoin's price surged to $70,000 on Monday before plummeting below $67,000, causing significant market turbulence.<br><br>– The crypto market saw $185 million in liquidations over the last 24 hours, with Bitcoin-related positions being the… <a href="https://t.co/I51Qrn0ge5">https://t.co/I51Qrn0ge5</a> <a href="https://t.co/cfPykn2xGk">pic.twitter.com/cfPykn2xGk</a></p>— BSCN (@BSCNews) <a href="https://twitter.com/BSCNews/status/1818016633249489120?ref_src=twsrc%5Etfw">July 29, 2024</a>
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<h2 class="wp-block-heading" id="h-government-actions-spark-market-turbulence">Government Actions Spark Market Turbulence</h2> 
<p>The dramatic price swings were tied to multiple factors. One major influence was the U.S. government’s movement of <a href="https://cryptonewsland.com/us-government-transfers-241-million-worth-of-bitcoin-to-coinbase-speculation-rises-on-btc-price-impact/" target="_blank" rel="noreferrer noopener">$2 billion in Bitcoin</a> linked to the Silk Road. This move sparked widespread speculation and concern among traders. The transfer occurred hours after the initial price drop, adding to the market confusion and anxiety.</p> 
<p>Another factor contributing to the market turmoil was former President Trump’s recent pledge. He promised to halt federal crypto sales if re-elected. The statement created uncertainty and influenced trading decisions. Additionally, <a href="https://www.lummis.senate.gov/" target="_blank" rel="noreferrer noopener nofollow">Senator Cynthia Lummis</a> proposed a national Bitcoin reserve. Her proposal added another layer of complexity to the market dynamics.</p> 
<h2 class="wp-block-heading" id="h-uncertainty-fuels-market-anxiety">Uncertainty Fuels Market Anxiety</h2> 
<p>The exact cause of Bitcoin’s rapid rise and fall remains unclear. The timing of the U.S. government’s BTC transfer, which happened after the initial price drop, raised many questions.&nbsp;&nbsp;</p> 
<p>This sequence of events led to speculation about possible connections between the government’s actions and market movements. The crypto market’s reaction to these developments was swift and sev... </p>
<p>The post <a href="https://cryptonewsland.com/bitcoins-rollercoaster-to-70k-and-back-amid-trump-and-government-moves/">Bitcoin’s Rollercoaster to $70K and Back Amid Trump and Government Moves</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Bitcoin’s Rollercoaster to $70K and Back Amid Trump and Government Moves

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Crypto News Land

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