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Analysis: In extreme cases, Mt. Gox and German government sell-offs could trigger a 10.5% drop in Bitcoin prices
2024-07-09 01:47
Odaily News Crypto analyst Alex Krüger published an article on the X platform to analyze and estimate the decline in the price of Bitcoin caused by the Mt.Gox compensation and the German government address selling Bitcoin. Based on the current market liquidity and the decline in the market caused by the previous large-scale transfer of Bitcoin, Krüger made a pessimistic assumption that if the German government address sold the remaining Bitcoins at one time and 30% of the 85,000 Bitcoins held by Mt.Gox were sold, then the Mt.Gox and German government selling could cause a rapid decline in the price of Bitcoin by 10.5%. But in general, the market can fully absorb the above selling pressure.
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An address that added to its short position after CZ purchased ASTER shares is currently showing a floating profit of $1.29 million.
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Investors who had previously shorted ASTER placed sell orders worth $20 million between $1.3788 and $1.3947.
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