Tesla sells 75% of its bitcoin holdings

Tesla sells 75% of its bitcoin holdings

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Bitcoin reclaimed its bullish trend since the beginning of this week.

Everything continued to move smoothly not until Testla weakly sold 75% of it’s Bitcoin holdings in Q2.

Immediately the sale was initiated, Bitcoin retraced to about $22,894 from the 24k recent high.

 

Crypto experts have reacted to this, saying Tesla CEO, Elon musk, is a weak hand.

Reacting to this, Micro strategy’s CEO, Michael J Saylor tweeted ;

If you sell 75% of your bitcoin, you will only have 25% of your #bitcoin left 

Elon musk also revealed that he still holds Dogecoin and his company, Tesla, will buy Bitcoin in the future.

What to expect from this

This new development is currently raising a lot of concern in the crypto space.

Some traders have started shorting the crypto market anticipating more DIP, but Bitcoin is still tenacious at the moment.

Will more short trades be liquidated?

Bitcoin is still bullish and will become otherwise if the  22.4k support breaks.

Bitcoin 4 hours chart- Binance
Bitcoin 4 hours chart- Binance

Till then all fingers are crossed.

 

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