🇨🇳 China Sells Bitcoin On
Amidst the Slowing Economy
Local governments in China are using private companies to sell the confiscated cryptocurrency, according to Reuters . Lawyers told Reuters that China's BTC holdings have dwindled, but the exact sales are unknown. Chen Shi, a professor at Zhongnan University of Economics and Law, told Reuters that the sales are a temporary solution.
🇭🇰 Hong Kong announces suspension of postal delivery of goods to the US from April 16.
🔽 Meanwhile, AMD shares fell 8% on news of the US ban on sales of Nvidia's H20 chip to China.
🐳 According to Glassnode, the number of whale addresses (those holding 1-10k BTC) has increased from 1,944 to 2,014 since March 5, showing accumulation trends similar to April 2024.
#BinanceAlphaAlert #WhaleMovements #SaylorBTCPurchase #SECGuidance #BitcoinWithTariffs
