Bitcoin Price Prediction: $2 Billion Transfer by U.S. Government Causes 3.8% Drop to $65,400
Bitcoin (BTC) remains under pressure around the $66,396 level, with recent trading hitting an intra-day low of $65,400.
This forecast comes as the market reacts to the U.S. government’s transfer of $2 billion worth of Bitcoin, which has led to a 3.8% price drop and increased market volatility.
Investors are closely watching key price levels and potential political impacts.
The U.S. government’s recent transfer of 29,800 BTC, valued at approximately $2 billion, has shaken the cryptocurrency market.
This Bitcoin, initially seized from the Silk Road dark web marketplace, was moved to an unknown wallet, leading to a 3.8% drop in Bitcoin’s price.
The market’s reaction highlights its sensitivity to substantial transactions.
Analysts are speculating whether the government plans to manage or sell these assets differently, adding to the uncertainty and concerns about increased market volatility.
Key points:
The U.S. government’s actions have introduced volatility, with investors closely monitoring potential impacts on Bitcoin’s supply and price movements.
M2 crypto exchange has launched a service enabling UAE residents to trade Bitcoin and Ether directly from their bank accounts.
This feature allows users to convert UAE dirhams into Bitcoin and Ether seamlessly on M2’s platform, simplifying the trading process with smooth deposits and withdrawals.
UAE residents can now trade crypto directly with their bank accounts
The new integration enables the direct conversion of UAE dirhams into Bitcoin and Ether using M2’s spot market.
Crypto exchange M2(@M2Exchange) announced that it will allow residents in the United Arab… pic.twitter.com/T2P5f5L1n1
— EchoeWeb (@Echoeweb) July 31, 2024
Key points:
Regulated by the UAE government and supported by an
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