The Bad News Continues…but Crypto Rebounds?

TL;DR

• Yesterday morning, the German gov. offloaded one other 3,100 BTC (~$178M), and have a tidy 26,000 BTC (~$1.5B) left to go…however by some means, the crypto markets went up throughout buying and selling hours.

Full Story

You already know your older cousin’s childhood good friend, Kaylen?

The one who would continually put his physique on the road to carry out daring stunts, all in hopes of a fast snigger — and would by some means stroll away scratch free, each time?

No? That’s a extremely particular anecdote which is clearly based mostly on our personal lived experiences?

Nicely, even so — you realize the ‘Kaylen’ archetype.

Proper now, Bitcoin and a lot of the different main crypto tasks are giving ‘Kaylen power.’

Trigger the main narrative driving the latest market dump — the German authorities’s hearth sale of seized BTC (which we coated Tuesday)?

It bought worse.

Yesterday morning, they offloaded one other 3,100 BTC (~$178M), and have a tidy 26,000 BTC (~$1.5B) left to go.

…however by some means, the crypto markets went up throughout buying and selling hours.

(Kaylen power).

This might be quick lived — however for now, it signifies that there’re sufficient patrons which might be completely happy to disregard this bearish narrative, and never solely soak up the promoting stress, however outpace it sufficient to push costs up.

Now, lets all be part of fingers and pray it holds up.