Bitcoin recently reached a new summit of all time after weeks Exchange nearly $ 105,000. However, cryptocurrency now finds it difficult to exceed the critical bar of $ 110,000. Adding to the plot, new rumors appeared that China may have sold a 194,000 Bitcoin massif, as the CEO of cryptocurrency Ki Young Ju suggests.
Does this mean that we are heading for a huge price plunge?
Has China liquidated its Bitcoin holders?
Ki Young Ju recently took his turn on Twitter to share his conviction that China may have already unloaded the 194,000 Bitcoin he seized during the infamous premature scam in 2019.
The chain data, according to Ju, show that the Bitcoin entered has been mixed and transferred by major exchanges like Huobi. He maintains that this activity suggests an intention to convert assets into a fiduciary currency. However, the lack of transparency of the Chinese government over its assets in cryptocurrency leaves these affirmations open to the question.
The proof?
Although JU’s theory is based on historical trends and blockchain activity, there is no official confirmation of China to support the sale. This left the divided cryptographic community, some doubts about the complaint.
The history of China with cryptocurrencies – including its prohibitions and liquidations of past assets – the concerns of investors. However, some market analysts believe that China still has Bitcoin, which potentially makes it the second holder after the United States.
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Bitcoin price analysis and predictions
According to recent Coindelia News reportsBitcoin (BTC) knows certain fluctuations. After closing the day with a Marubozu candlestick, it is clear that the sellers are starting to take control. The price was struggling to push beyond the critical levels between $ 107,090 and $ 109,090, indicating a potential change in market management. If the lowering feeling continues, BTC can find support between $ 101,000 and $ 99,500.
Bitcoin’s daily graphic reveals that the models pointing to a potential reversal. A double high model and a downward divergence have been formed since early December 2024.
If these signals take place, Bitcoin could fall towards the lower end of its trading range, $ 91,000 becoming a key level to look at.
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Rumors on the sale of Chinese Bitcoin add to an already uncertain market. While the analysis of Ki Young Ju raises valid concerns, the lack of concrete evidence leaves room for the debate.
For the moment, Bitcoin investors must walk carefully, monitor key levels and remain vigilant for new developments.