Price of Bitcoin Suffered another Dip Due to Cypherpunk Holdings

The price of Bitcoin (BTC) ended up experiencing a dip and it came down to $20,200. Bitcoin’s price dipped due to a strong selling that was nothing less than a bloodbath. A great sell-off activity was recorded for Bitcoin that was triggered by multiple institutions.

Even the investment firms ended up selling Bitcoin on a large scale which ended up pulling it down to $20,200.

Cypherpunk Holdings

One of the major investment firms known as Cypherpunk Holdings is known to be among the institutions that sold Bitcoin on a large scale. According to the latest reports surrounding Cypherpunk Holdings, the investment firm has reportedly sold 100% of its holdings in Ethereum and Bitcoin.

It is because of the huge sell-off carried out by the investment firm that the price of Bitcoin has ended up taking a hit.

Mass Sell-Off Triggered for Bitcoin

As Cypherpunk Holdings sold Bitcoin and Ethereum in its possession, it ended up launching a great selling spree for Bitcoin. This ended up binging Bitcoin down to $20,200, and surprisingly, things did not stop there.

Just as the price of Bitcoin hit the $20,200 mark, it triggered another strong selling spree. This ended up bringing the trading price of Bitcoin even lower. Since then, the institutional investors have continued selling Bitcoin and the situation is out of control. Even the investment firms are selling Bitcoin on a larger scale.

James Hume Talks about Investors having Cold Feet

Even the executives at major cryptocurrency exchanges have started talking about the recent behavior of the investors. Houbi Global’s head of sales, James Hume recently talked about the way the institutional and investment firms have started treating cryptocurrencies.

As per Hume, some of the entities belonging to these sectors are concerned about the downward movement of cryptocurrencies. They simply have cold feet surrounding cryptocurrencies and they are not willing to take any chances.

Despite some institutional investors growing cold feet, many investors from the same industry are willing to spend billions to explore the particular sector.

Hume added that they already have multiple investment firms wanting to invest in cryptocurrencies that have reached out to their exchange. To be precise, 20-30 institutional firms, each aiming to invest at least a billion dollars or more are in touch with Huobi Global.

He confirmed that these firms may start investing in Bitcoin in the upcoming months. He clarified that all these firms are aiming to invest in Bitcoin in the running year.

This is a great sign for Bitcoin investors who are concerned about the future of Bitcoin. As per on-chain data analytical firms, Cypherpunk sold $4.7 million worth of Bitcoin and $227,000 worth of Ether. Compared to the investments that the investment firms are aiming to invest in Bitcoin, this is just a meager amount.

Leave a Reply

Your email address will not be published.


Coins Capital Review, – Is Coins Capital Scam Or Legitimate?

Coins Capital Trading Platform Rating 4.3 Summary Read our Coins Capital review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is Coins Capital scam or legit” and much more! Coins Capital Review You have been thinking for a long time if trading is for you. You have finally […]

AI Center Indicts ChatGPT Developer of Trade Law Violations: Claims Bias & Deception

The organization alleges that the creator of ChatGPT has violated Section 5 of the Federal Trade Commission Act with the release of GPT-4. This section of the act prohibits any practices or acts considered deceptive or unfair and that affect commerce. CAIDP has complained to the US Federal Trade Commission, intending to prevent the distribution […]

Investors Excited As XRP Market Capitalization Hits $20 Billion

It’s been wide jubilation today after XRP investors heard the announcement that the market capitalization has surged to $20 billion. XRP: a cryptocurrency developed and managed by Ripple, a San Francisco, United States, distributed data company. It was gathered that the coin itself responded to this development through a climb in price – it was […]

GlobalTrades Review, – Is Global Trades Scam or a Good Broker?

GlobalTrades Trading Platform Rating 4.6 Summary Read our Global Trades review at FStar Capital Forex and Cryptocurrency Trading blog, find the answer to your question “is scam or legit” and much more! GlobalTrades Review As people look at cryptocurrencies and their immense success, they are eager to start their own trading businesses. While […]

Belgium Regulator Sets To Impose New Crypto Ads Rules

The Belgium government has mandated that every firm offering crypto advertisements should register with it before launching any campaign. Henceforth, any crypto advertisement without the government’s backing would be treated as an offense with heavy consequences. According to the report, the Financial Services and Markets Authority (FSMA) of Belgium recently announced that every potential crypto […]