Why BTC Dumped this much ? 
2024-07-05

Is it over! 
Are we going to zero ?
you knew it since first day, it was all ponzi !
its over and you should back to McDonald's !! 
but you remember you last words to your boss so its impossible to even back there too !!!

wait , wait a second...
I love when Bears and retails become all drama queens
lets see what did just happened to market and why you should load the dip now (wait whaaat!)

btc pumped 100% less than in a year (Did you checked my last btc analysis the "The wolf enters the henhouse" one) and we just had 25% correction which is ok in bull markets
but lets see what leads to this ruthless corrections 

we had almost five times rejection at 71-72k level which is bearish signal and means no one like to load more btc at those levels



MtGox was one of the worst hacks that happened in crypto history and each cycle we got fud news that they will repaying peoples money  but this time they really doing it! (If you were one of those early birds you are kinda of lucky after all, I bet you would sell millions of times your bitcoins! at least Mark Karpelès knows how to HODL )

couple of days ago MtGox issued an official announcement stating that relevant preparations have been completed and that it will begin repaying creditors in BTC and BCH in early July 2024. To ensure compliance, relevant technical and financial regulatory measures have been implemented. The repayment will be completed with the cryptocurrency exchange to complete the necessary transactions and verifications, and the specific implementation details will take some time to wait

and several users said that their Bitbank received BTC/BCH, and the amount received was exactly the same as the amount shown in the Mt Gox table. Today, MtGox transferred 1,544.67 BTC (about $84.87m) to the hot wallet of the Japanese exchange Bitbank

many Govs holding btc these days just FYI the US government holds crypto assets worth about $15 billion, including 212.847k BTC and 45.654k ETH; the British government holds 61.245k BTC, worth about $4.34 billion; the German government holds 49.859k BTC, worth about $3.53 billion

and during the corrections all of a sudden the German Government transferred 547.44 BTC to the market and start selling like newbie paper hands. Currently, it is shown that the German Government address still has about 41k BTC, worth about $2.27 billion so buckle up!

all in all  the German government, the US government, and Mt. Gox have transferred a total of 17,788 BTC ($1.08 billion) since June 19. The German government has transferred BTC every day since July 1. They currently hold a total of 396,210 BTC ($22.78 billion), including: the German government, 41,226 BTC ($2.28 billion), the US government, 213,297 BTC ($11.72 billion), and MtGox, 141,687 BTC ($7.78 billion)

one thing this cycle changed and its WallStreet & ETFs which probably we will see new patterns this time

50-52k is super important support for BTC and there will be small chance for bears and govs to hit and break that level in middle of bull market. I start DCA at these levels so don't trip, buy the dip!







