Here’s Why The Bitcoin Price Is Crashing And What To Expect Next
The Bitcoin price has suffered a significant crash, falling from above the psychological $70,000 this week. Crypto pundit Nobler cited why the leading crypto was crashing, while analyst Chiefy revealed what to expect next from BTC. Why The Bitcoin Price Is Crashing In an X post, Nobler revealed that the USDT issuer Tether was liquidating some of its BTC holdings, which was contributing to the Bitcoin price crash. He noted that this was the first time they had sold directly from their BTC reserve wallet. The pundit added that things were not looking good for crypto. Related Reading: Bitcoin Moves Into Accumulation Zone That Will Send It On Next All-Time High Run To $250,000 On-chain data showed that Tether moved 204 BTC from its wallet to the Bitfinex exchange, sparking concerns of a sell-off. Tether is among a host of entities believed to have dumped BTC recently, sparking the Bitcoin price crash. The defunct crypto exchange Mt. Gox also transferred 10,422 BTC, worth almost $740 mill