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Fidelity’s Bitcoin Sale Adds to Crypto Market Uncertainty

Published 14/06/2024, 15:15
© Ink Drop Fidelity’s Bitcoin Sale Adds to Crypto Market Uncertainty
BTC/USD
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Coin Edition -

  • Bitcoin sees substantial outflows totaling $106 million, marking one of its most significant single-day sell-offs since inception.
  • Despite recent price peaks in March 2024, Bitcoin has maintained a tight consolidation range between $60,000 and $70,000 for the past three months.
  • This period of price stabilization aims to align Bitcoin’s current cycle with historical post-halving patterns, potentially lengthening the overall bull market duration.

Bitcoin is facing significant turbulence as investors grapple with recent market developments, including a major sell-off by Fidelity Investments and a prolonged period of price consolidation.

Crypto analyst Thomas reported that Fidelity Investments sold a substantial 1,590 Bitcoins, worth approximately $106 million.

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