Bitcoin Approaches Local Bottom Amid Recent Massive BTC Sell-Offs – Bitfinex

Quick Summary:

Bitcoin continues to struggle with regaining its upward momentum after dropping from the $62,800 level about a week ago, fueling speculations of an imminent further decline.

Compared to the realized capitalization of Bitcoin since 2023, valued at $224 billion, this number is only 4% of the value added to the market.

This prediction coincides with the heavy BTC sell-offs lately, which might have impacted the crypto asset negatively, leading to notable declines in the past few days.

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Article Details

Author / Journalist: Godspower Owie

Category: Crypto

Markets: HungaryGermanyHong Kong

Topics: BTCUSDT BKA Bitcoin German Government Bundeskrimanalamt Mt gox Bitfinex Bitcoin News Btcusd Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 09:30:44 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 443 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 21552828

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 11 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 8 hours ago

Coverage Areas: Hungary

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #105

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