Bitcoin (BTC) was heavily sold over the weekend, with the price plummeting all the way to $18,000. Bitcoin has regained more than 10% since then. It is currently hovering around the $20,000 mark.
According to Arthur Hayes, co-founder of crypto exchange 100x, Canada’s Purpose Bitcoin (BTC) ETF sold a stunning 24,500 BTC by Friday close, North American time, according to statistics from Coinglass. It indicates they sold half of their BTC holdings in a single day, which is a significant amount of BTC.
As previously stated, the BTC price fell below $18,000 during the weekend, reaching a low of $17,600.
After a severe drop last week, Bitcoin has made a strong comeback on Sunday, June 19. For the time being, it is trading above $20,000, but the main question is how long it will stay there.
Soon after the United States issued its May 2022 inflation figures, Schiff forecasted that BTC will fall below $20,000 and ETH would fall below $1,000. This occurred only a week after his prediction.
It isn’t certain whether there is more pain left but could be additional opportunities for the “skilled knife catchers”.