Bitcoin risks weekly close below $82K on US BTC reserve disappointment
Bitcoin risks triggering $1.13 billion worth of cumulative leveraged long liquidations if it falls below the $82,000 price support. Bitcoin could face increased downside volatility if it closes the week below the key $82,000 support level as investor sentiment remains subdued following short-term disappointment in the US Strategic Bitcoin Reserve.
President Donald Trump’s executive order, signed on March 7, outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government
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1. BTC Price Today: As of the latest update, Bitcoin (BTC) is trading at $57,135.01. The highest intraday price in the past year was $73,750.07 on March 14, 2024.
2. German Government's BTC Sale: The German government has been selling Bitcoin, which may have contributed to the recent price drop. Additionally, the activation of Mt.Gox's wallets for repayments has also impacted the market⁵.
3. Overall Performance: Bitcoin's all-time high was on March 14, 2024, when it reached $73,750.07 per BTC.
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