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.
BREAKING: Tesla sold 75% of its #bitcoin holdings in Q2
— Bitcoin Magazine (@BitcoinMagazine) July 20, 2022
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
If you sell 75% of your bitcoin, you will only have 25% of your #bitcoin left.
— Michael Saylor⚡️ (@saylor) July 20, 2022
Elon musk also revealed that he still holds Dogecoin and his company, Tesla, will buy Bitcoin in the future.
— Watcher.Guru (@WatcherGuru) July 20, 2022
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.
Till then all fingers are crossed.