Dear Friends,

The crypto markets are facing some pull back due to the news that the US Government has shifted 29800 BTC, the seized one from the Silk Road 2022.

This created a major turmoil in the crypto markets. 

This act of the government is considered to be a contrary movement to what has Donald Trump has said in the Bitcoin Conference 2024 couple of days earlier. He wanted to create the US the crypto capital of the World and would create a crypto reserve as well.

But many also see this, this is not an act to sell and take to a custodian wallet considering the whole picture. 

The noted crypto narrator and Galaxy Digital CEO Mike Novogratz has lashed out at this recent crypto fund movement, calling it “tone deaf” move by the current administration in his twitter post. 

The noted crypto Person Peter Schiff also took twitter to say against this move. But, US cannot able to sell all its reserve straight away. Needless to say, US is the single largest holder of BTC in the World. It is followed by China, UK, Ukrain, Germany, EL Salvador and Finland.

Having after crossed $70000, with all these confusing news spread, BTC has crashed and currently BTC is trading in the range of $66000.

There were both positive news and negative news are spreading on BTC.

Cryptoquant has come up that if the Coinbase Premium Index SMA14, there was chances of BTC going down. 

But if we consider the rainbow spectrum of BTC, it shows that the accumulation region. We have also witnessed this type of movements post the Halving season of BTC earlier. 

So whatever the opportunity is given by the opportunity, just use it wisely. 

These are the temporary matters that creates some hectic movements in the cryptomarkets.

At these important calamities in the crypto market, we need to adjust more and to sail our investment and trading boat safely. 

But, in the long term, there is going to be a golden period for cryptos.

Stay invested with happiness!

=

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