The German government recently sold a significant chunk of its seized Bitcoin stash.
Meanwhile, the Mt. Gox trustee has also started repaying creditors in Bitcoin and Bitcoin Cash.
The dollar value of Bitcoin remains extremely volatile. Although there were signs of recovery over the weekend, the value tumbled this morning (Monday) as the Asian markets opened. What is the cause of this dip? Is it due to the expected repayment from Mt. Gox or the Germans offloading their Bitcoin stash? Additionally, the US Feds’ decisions on rate cuts cannot be ignored.
A Bloody Week
Bitcoin peaked at almost $74,000 earlier this year, boosted by the approval of the long-awaited spot Bitcoin exchange-traded funds (ETFs) in the United States. However, due to periodic volatility, the cryptocurrency is trading around $57,500, down by around 23 percent.
In the past week alone, the value of Bitcoin has decreased by about 10 percent.
As always, the reasons behind Bitcoin's volatility are mixed. However, this time, the bearish sentiments might have been triggered by a few events.
Bitcoin price movement in the past 1 month
A $9 Billion Payout
A prominent trigger might be the upcoming repayment to the creditors of the now-defunct crypto exchange Mt. Gox. After ten years of countless delays, the Mt. Gox administrator finally decided to repay the distressed creditors in Bitcoin and Bitcoin Cash.
At its peak, Mt. Gox handled 70 percent of all Bitcoin transactions. However, the exchange lost an estimated 740,000 Bitcoin, which led to its closure in 2014.
Recently, Mt. Gox-related Bitcoin wallets moved 47,228 Bitcoins. However, it was unclear if those Bitcoins were moved for the purpose of repayment. The anticipation of such a massive volume of Bitcoin hitting the market might have created selling pressure, resulting in the recent volatility.
The Mt. Gox payout is estimated to be $9 billion. However, experts believe that the $1.1 trillion Bitcoin market has the potential to absorb the pressure from the sell-off by the Mt. Gox creditors.
“Mt. Gox moved [a massive amount of] BTC, signalling the start of their repayment process, which has caused some market fear due to the large potential sell-off,” Willy Chuang, COO of crypto exchange WOO X, told crypto-focused publication Coindesk. “However, it's worth noting that despite these concerns, the long-term impact may be less severe as the market gradually absorbs the selling pressure.”
The German Sell-Off
Another major reason for the latest downward Bitcoin spiral might be the selling off of seized Bitcoins by German authorities. Earlier this year, German law enforcement seized 50,000 Bitcoins linked with a piracy website.
After months of holding onto those seized cryptocurrencies, the German government-linked wallets moved out 6,500 Bitcoins, worth about $425 million at the time. After a series of transactions, 1,000 of these Bitcoins were sent to two crypto exchanges, Kraken and Bitstamp. On-chain analyst Arkham also confirmed that the German government moved another 1,300 Bitcoins, worth $76 million, to Kraken, Bitstamp, and Coinbase on July 4, after which the Bitcoin price took a massive hit.
The German government also moved an additional 1,700 Bitcoins to an address likely moved “for an institutional service or OTC.”
Despite the sell-offs, the German government still holds a substantial amount of Bitcoins from the seizure. Similarly, the US government accumulated a sizable amount of Bitcoin from seizures against illegal operations over the years.
Is It the Feds?
Although a regular event, the US Federal Reserve’s decision might be another factor behind Bitcoin’s volatility. On Thursday, the Feds decided not to cut interest rates for another cycle. Even though rate cuts are not directly related to Bitcoin, higher interest rates always lure investors to keep their money away from risky investments like Bitcoin.
Currently, the Fed funds rate is at 5.5 percent, significantly higher compared to 0.25 percent in March 2022.
The US interest rate over the past 5 years
Room for Upward Movement
Bitcoin entered the mainstream financial market earlier this year when the Securities and Exchange Commission approved the spot Bitcoin ETFs. Prominent asset managers like BlackRock and Fidelity, along with nine other issuers, are now listing spot Bitcoin ETFs on American stock exchanges.
Further, the mining reward of Bitcoin was halved earlier this year, an event that has positively impacted the cryptocurrency's price movement historically.
Despite the recent volatility, many analysts are still optimistic about Bitcoin. According to analysts at crypto data and research firm CCData, Bitcoin is yet to reach the top of its current appreciation cycle and is likely to hit a fresh all-time high.
CCData pointed out that Bitcoin halvings always preceded a period of price expansion, which lasts between 12 to 18 months “before producing a cycle top.” These historical time frames have yet to pass after the latest halving on 19 April 2024.
“Moreover, we have observed a decline in trading activity on centralised exchanges for nearly two months following the halving event in previous cycles, which seems to have mirrored this cycle. This suggests that the current cycle could expand further into 2025,” the CCData report stated.
The dollar value of Bitcoin remains extremely volatile. Although there were signs of recovery over the weekend, the value tumbled this morning (Monday) as the Asian markets opened. What is the cause of this dip? Is it due to the expected repayment from Mt. Gox or the Germans offloading their Bitcoin stash? Additionally, the US Feds’ decisions on rate cuts cannot be ignored.
A Bloody Week
Bitcoin peaked at almost $74,000 earlier this year, boosted by the approval of the long-awaited spot Bitcoin exchange-traded funds (ETFs) in the United States. However, due to periodic volatility, the cryptocurrency is trading around $57,500, down by around 23 percent.
In the past week alone, the value of Bitcoin has decreased by about 10 percent.
As always, the reasons behind Bitcoin's volatility are mixed. However, this time, the bearish sentiments might have been triggered by a few events.
Bitcoin price movement in the past 1 month
A $9 Billion Payout
A prominent trigger might be the upcoming repayment to the creditors of the now-defunct crypto exchange Mt. Gox. After ten years of countless delays, the Mt. Gox administrator finally decided to repay the distressed creditors in Bitcoin and Bitcoin Cash.
At its peak, Mt. Gox handled 70 percent of all Bitcoin transactions. However, the exchange lost an estimated 740,000 Bitcoin, which led to its closure in 2014.
Recently, Mt. Gox-related Bitcoin wallets moved 47,228 Bitcoins. However, it was unclear if those Bitcoins were moved for the purpose of repayment. The anticipation of such a massive volume of Bitcoin hitting the market might have created selling pressure, resulting in the recent volatility.
The Mt. Gox payout is estimated to be $9 billion. However, experts believe that the $1.1 trillion Bitcoin market has the potential to absorb the pressure from the sell-off by the Mt. Gox creditors.
“Mt. Gox moved [a massive amount of] BTC, signalling the start of their repayment process, which has caused some market fear due to the large potential sell-off,” Willy Chuang, COO of crypto exchange WOO X, told crypto-focused publication Coindesk. “However, it's worth noting that despite these concerns, the long-term impact may be less severe as the market gradually absorbs the selling pressure.”
The German Sell-Off
Another major reason for the latest downward Bitcoin spiral might be the selling off of seized Bitcoins by German authorities. Earlier this year, German law enforcement seized 50,000 Bitcoins linked with a piracy website.
After months of holding onto those seized cryptocurrencies, the German government-linked wallets moved out 6,500 Bitcoins, worth about $425 million at the time. After a series of transactions, 1,000 of these Bitcoins were sent to two crypto exchanges, Kraken and Bitstamp. On-chain analyst Arkham also confirmed that the German government moved another 1,300 Bitcoins, worth $76 million, to Kraken, Bitstamp, and Coinbase on July 4, after which the Bitcoin price took a massive hit.
The German government also moved an additional 1,700 Bitcoins to an address likely moved “for an institutional service or OTC.”
Despite the sell-offs, the German government still holds a substantial amount of Bitcoins from the seizure. Similarly, the US government accumulated a sizable amount of Bitcoin from seizures against illegal operations over the years.
Is It the Feds?
Although a regular event, the US Federal Reserve’s decision might be another factor behind Bitcoin’s volatility. On Thursday, the Feds decided not to cut interest rates for another cycle. Even though rate cuts are not directly related to Bitcoin, higher interest rates always lure investors to keep their money away from risky investments like Bitcoin.
Currently, the Fed funds rate is at 5.5 percent, significantly higher compared to 0.25 percent in March 2022.
The US interest rate over the past 5 years
Room for Upward Movement
Bitcoin entered the mainstream financial market earlier this year when the Securities and Exchange Commission approved the spot Bitcoin ETFs. Prominent asset managers like BlackRock and Fidelity, along with nine other issuers, are now listing spot Bitcoin ETFs on American stock exchanges.
Further, the mining reward of Bitcoin was halved earlier this year, an event that has positively impacted the cryptocurrency's price movement historically.
Despite the recent volatility, many analysts are still optimistic about Bitcoin. According to analysts at crypto data and research firm CCData, Bitcoin is yet to reach the top of its current appreciation cycle and is likely to hit a fresh all-time high.
CCData pointed out that Bitcoin halvings always preceded a period of price expansion, which lasts between 12 to 18 months “before producing a cycle top.” These historical time frames have yet to pass after the latest halving on 19 April 2024.
“Moreover, we have observed a decline in trading activity on centralised exchanges for nearly two months following the halving event in previous cycles, which seems to have mirrored this cycle. This suggests that the current cycle could expand further into 2025,” the CCData report stated.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
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#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
In this video, we take an in-depth look at @BlueberryMarketsForex , a forex and CFD broker operating since 2016, offering access to multiple trading platforms, over 1,000 instruments, and flexible account types for different trading styles.
We break down Blueberry’s regulatory structure, including its Australian Financial Services License (AFSL), as well as its authorisation and registrations in other jurisdictions. The review also covers supported platforms such as MetaTrader 4, MetaTrader 5, cTrader, TradingView, Blueberry.X, and web-based trading.
You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
We also explain spreads, commissions, swap rates, swap-free account availability, funding and withdrawal methods, processing times, and what traders can expect from customer support and additional services.
Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
🐦 X: https://x.com/financemagnates
🎥 TikTok: https://www.tiktok.com/tag/financemagnates
▶️ YouTube: /@financemagnates_official
#Blueberry #BlueberryMarkets #BrokerReview #ForexBroker #CFDTrading #OnlineTrading #FinanceMagnates #TradingPlatforms #MarketInsights
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness CMO Alfonso Cardalda on Cape Town office launch, Africa growth, and marketing strategy
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
Exness is expanding its presence in Africa, and in this exclusive interview, CMO Alfonso Cardalda shares how.
Filmed during the grand opening of Exness’s new Cape Town office, Alfonso sits down with Andrea Badiola Mateos from Finance Magnates to discuss:
- Exness’s marketing approach in South Africa
- What makes their trading product stand out
- Customer retention vs. acquisition strategies
- The role of local influencers
- Managing growth across emerging markets
👉 Watch the full interview for fundamental insights into the future of trading in Africa.
#Exness #Forex #Trading #SouthAfrica #CapeTown #Finance #FinanceMagnates
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
How does the Finance Magnates newsroom handle sensitive updates that may affect a brand?
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Yam Yehoshua, Editor-in-Chief at Finance Magnates, explains the approach: reaching out before publication, hearing all sides, and making careful, case-by-case decisions with balance and responsibility.
⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Executive Interview | Kieran Duff | Head of UK Growth & Business Development, Darwinex | FMLS:25
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Here is our conversation with Kieran Duff, who brings a rare dual view of the market as both a broker and a trader at Darwinex.
We begin with his take on the Summit and then turn to broker growth. Kieran shares one quick, practical tip brokers can use right now to improve performance. We also cover the rising spotlight on prop trading and whether it is good or bad for the trading industry.
Kieran explains where Darwinex sits on the CFDs-broker-meets-funding spectrum, and how the model differs from the typical setups seen across the market.
We finish with a look at how he uses AI in his daily workflow — both inside the brokerage and in his own trading.
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
Why does trust matter in financial news? #TrustedNews #FinanceNews #CapitalMarkets
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, in a world flooded with information, the difference lies in rigorous cross-checking, human scrutiny, and a commitment to publishing only factual, trustworthy reporting.
📰 Verified reporting
🔎 Human-led scrutiny
✅ Facts over noise
