The market will have to absorb between $4-$6 billion worth of bitcoin selling pressure throughout the summer months, weighing on prices, K33 Research said.
Since confiscating nearly 50,000 bitcoin in January, Germany’s state of Saxony has sold over half of its initial holdings, causing distress in the crypto market.
Former President Donald Trump's crypto ventures have been as turbulent as his political career, with significant highs and lows. His public crypto portfolio, mostly containing Trump-themed meme coins and some Ethereum (ETH), exhibited a massive correction following recent market downturns. Trump's portfolio underscores the volatility of allocating most of your holdings to tokens without utility amid a Bitcoin (BTC) pullback. Don't Miss: 1 in four Americans own a share of Bitcoin according to Nas