The Latest Breaking News from Ki Young Ju

A Bitcoiner group that isn't among ETF holders has snapped up thousands of $BTC within 30 days, highlighting the trend in the crypto market wherein a buyer waits for a seller to dump when prices plunge.

MtGox has been at the center of negative sentiment in the Bitcoin community due to the fallen exchange's repayments to creditors that many Bitcoiners initially feared would have a significant impact on the digital currency's prices.

The crypto community on X is abuzz after the German government dumped over $300 million worth of Bitcoins in a period of two days last week. The community has different views regarding the development, but it appears that the move shook markets as BTC plunged to $63,000.

Holders of Bitcoin who've held on to their assets for a long time have been selling in the past two weeks, and it doesn't help that spot BTC ETFs have seen negative outflows in the same period.