Title: The recent series of sales of BTC, the U.S. government’s sale of 4000 BTC, and the speculations
Author: Cybermelon
The recent market trend of continuous BTC selling, with Mt.Gox repaying BTC debts and the German government selling BTC, has now seen the U.S. government jump in by announcing, “I’m going to dump 4000 BTC, it won’t affect the market.” But will it really have no impact?
The Coin Market Cap website has reported a series of coincidental events at significant time points. First, since the Russia-Ukraine war, the pressure from Russia has led the EU to send its ship to Ukraine, and Germany plans to restore conscription on May 13 due to military pressure from Russia. This resulted in a 3% increase in military spending as a percentage of the national GDP. Germany needs money to achieve this goal.
However, the timing of the sale of BTC by Germany at this point is quite coincidental. If it was just Germany, it could be considered a random event. But what about Mt.Gox?
Mt.Gox, a mysterious BTC holder, is a BTC exchange based in Tokyo, Japan. Established in July 2010, Mt.Gox was acquired by Tibanne Co in 2011, and later fell victim to a hacker who stole 2000 BTC. The founder, Mark Karpelès, tried to apply BTC as electronic cash for physical payments in Japan but faced a seizure by the U.S. Department of Homeland Security in 2013. These events raise several doubts.
Regarding the Mt.Gox incident, it is hard not to think about the delicate relationship between Japan and the United States. Additionally, the approval of Ethereum’s ETF should have been a cause for celebration in the market, but it seems that the market has taken on a bearish tone.
The U.S. Federal Reserve is planning to cut interest rates in the second half of this year. This move will increase the supply of U.S. dollars in the market, which could benefit the whales and the elites in the crypto market. This situation raises the question of who will benefit from the ongoing sale of BTC and the subsequent decrease in prices.
In conclusion, the recent sale of BTC by the U.S. government, the series of events related to Mt.Gox, and the potential impact of the U.S. presidential election on the crypto market have led to speculations about the future of the crypto market.