Bitcoin Price Prediction: $2 Billion Transfer by U.S. Government Causes 3.8% Drop to $65,400

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Crypto Writer
Crypto Writer
Arslan Butt
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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Bitcoin Price Prediction
Bitcoin Price Prediction

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.

U.S. Government’s $2 Billion Bitcoin Transfer Causes 3.8% Price Drop

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:

  • Transfer of 29,800 BTC worth $2 billion
  • Bitcoin price dropped by 3.8%
  • Market sensitive to large transactions

The U.S. government’s actions have introduced volatility, with investors closely monitoring potential impacts on Bitcoin’s supply and price movements.

M2’s New Service Enhances BTC Accessibility in UAE, Potential Price Boost

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.

Key points:

  • Trade Bitcoin and Ether directly from UAE bank accounts
  • Convert UAE dirhams into cryptocurrencies easily

Regulated by the UAE government and supported by an FSRA license, M2 aims to bridge traditional banking with cryptocurrencies, enhancing trust and security in the UAE’s crypto market. This initiative is expected to boost Bitcoin’s price by increasing accessibility and liquidity, potentially driving higher trading volumes and investor interest.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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