Stay updated on Pro Crypto Ecosystems news by locking ACS tokens with The Block.No wallet? No problem. You can set one up for free. We recommend Torus for first-time users.Bitcoin's price dipped below $30,000 on Tuesday, with a confluence of factors affecting the performance of the digital asset.
and speculation about a rate cut next year, one analyst believes downside pressure is being catalyzed by the possible sell-off of the U.S. government's seized bitcoin stash.stirred speculation by appearing to transfer $300 million in BTC to new addresses in two transactions. "The total daily volume traded in bitcoin is less than $2 billion right now," he added."My assumption is some of this is wash trading. So, a sell-off of $300 million worth of bitcoin should and will result in a negative price movement."While bitcoin historically presents an inverse correlation with the U.S. Dollar Index, it has failed to appreciate in the wake of DXY's recent decline of around 2.3%.
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