What you can expect from crypto is a wild, thrilling ride, and a lot of people are profiting.
If you haven’t seen the latest news in our crypto market, get July’s overview here.
1. Who Is Eyeing Germany’s Crypto Stash?
It started with roughly 50,000 Bitcoins, but now, it’s only 32,488 left.
Coming from arrest warrants, Germany’s crypto stash was worth an excess of $2.2 billion.
Though that fund is currently down at 32,488 tokens, the balance sheet remains largely untouched. You see, BTC is worth more, so even with less tokens overall, the German government has about $1.9 billion left of its original $2.2 billion lot.
Clearly, they have some good traders involved.
During its recent selling spree, Coinbase, Kraken and Bitstamp were the platforms used by German officials, which makes sense. We not only confirmed the trades, but $170 billion left the crypto market scared in a 24-hour span. Germany takes advantage, leveraging a high Bitcoin.
This is why hundreds of millions were shifted out of BTC in recent weeks. The Federal Criminal Police Office, a German agency, owns the public wallet we’re tracking.
Its sell-auction started with 900-BTC tokens returned to the market for roughly $52 million.
Germany then sold 3,000 more to snag up $172-mil during Bitcoin’s 2024 rallies.
Those trades, even still, were followed by a 2,739-token sell worth $155 million.
2. Are CBDCs Really Similar to the Northern Lights?
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With all these pretty lights showing up around the globe, we wonder if the rise of CBDCs have anything to do with it. It was only months ago that headlines challenged CBDCs, and countries slandered it. In June of 2024, there were 143 countries now experimenting with their own.
Others are running blockchain programs in the shadows.
Only a handful of nations are public about their use, promoting, even, their own.
Thirty-six countries went public about now-active pilot programs.
So what do you expect from crypto?
With all this ringing the alarms, why haven’t CBDCs taken off? Turns out, the potential of these crypto assets rests, largely, in the hands of global citizens. Hence, there’s a conflict.
CBDCs are surely in the making, but what reporters believe is slowing their adoption is the “so-called consumer.” Cryptocurrencies came about because we wanted autonomy.
We wanted a decentralized ecosystem that would remove the “middleman.”
Though Central Bank Digital Currencies are no longer fantasy, they have a large, uphill climb in building trust with global citizens. As of 2024, the top CBDCs have failed.
3. Why Is Bitcoin Hard to Judge Right Now?
Higher Fed rates could harm the economy, and investors sense it. Tensions from a confusing message by The U.S. Federal Reserve has been blamed as the culprit behind crypto dips.
Now that institutional money is dabbling in Bitcoin, you can’t take what you see on the charts as the actual trend. All it takes is some discipline, a look at the weekly chart and nothing less.
The grandaddy crypto is still sitting in profit margins at $40,000 but is now at $57,768.60.
Nothing has yet threatened the gains of January’s and May’s biggest rallies.
Since we’re talking about institutional investors, it’s also important to talk about order flow. “Order flow” is what investment banks and trading firms study.
They use it. They follow it. It is somewhat their law.
As long as we stay on a weekly chart, being the ideal overview for swing trades, we get a better idea of the long-term options in the market. Institutions will first look for those opportunities.
This makes $51,800 our benchmark.
It not only was the last low, but right before breaking, it was the high of the prior time frame. Investors will want to test that level, but this won’t take Bitcoin out of its current bull rally.
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