Coinbase Weekly Market Commentary: Bitcoin Supply Overhangs and German Government Selling The third quarter of the year did not begin on a positive note for the cryptocurrency market. According to Coinbase , one of the leading cryptocurrency exchanges, the market has been facing supply overhangs due to indiscriminate selling of Bitcoin. The main source of this selling is believed to be the German government. While the amount of Bitcoin sold by the government may not be significant in comparison to the daily trading volume of BTC, it has still caused downward pressure on Bitcoin prices. Impact on Bitcoin Prices: The selling pressure generated by the German government has had a noticeable impact on Bitcoin prices. The price of Bitcoin has been struggling to recover from its recent drop below $30,000, and this selling pressure has only added to its challenges. However, despite this pressure, Bitcoin remains the leading cryptocurrency with a market cap of over $600 billion. Inv...
Welcome to Daily Crypto Talkies News, your ultimate source for latest and most relevant news, insights, and updates from the world of cryptocurrency. Our blog aims to provide valuable information to crypto enthusiasts for only learning purpose.
Join with us !
Download App Now