Crypto Markets in Flux: Bitcoin, Ethereum, and More See Turbulent Week
The past week has been a wild ride for cryptocurrency markets, with prices fluctuating wildly and investors scrambling to make sense of it all. From the German government selling off a massive stash of Bitcoin to a sudden surge in Ethereum’s price, there’s been no shortage of news to keep crypto enthusiasts on the edge of their seats.
German Government Sells Off $900M in Bitcoin
In a surprise move, the German government sold off over 23,000 Bitcoin - worth a whopping $900 million - in a move that sent shockwaves through the crypto community. According to Arkham Intelligence, the sale marks a significant reduction in the government’s Bitcoin holdings, leaving only 23,788 Bitcoin remaining in their wallets.
German government’s Bitcoin sale sparks concern
Ethereum Rallies Amid signs of Seller Exhaustion
Meanwhile, Ethereum has seen a significant resurgence in price, retaking the $3,000 mark amid signs of seller exhaustion. The rally comes ahead of the highly-anticipated Ethereum ETF debut, which could bring new investors into the market.
Ethereum price surges ahead of ETF debut
Prediction Markets and Polls Both Got it Wrong in French Election
In other news, Polymarket traders were left reeling after both prediction markets and polls failed to accurately predict the outcome of the French election. The surprise result has left many in the crypto community wondering if prediction markets are truly as reliable as they’re made out to be.
Prediction markets fail to predict French election outcome
CoinDesk 20 Performance Update: FIL and LINK Lead the Charge
In more positive news, the CoinDesk 20 index has seen a significant boost, driven by strong performances from FIL and LINK. The update marks a welcome respite from the recent turmoil in crypto markets, and could signal a shift towards more sustainable growth.
FIL and LINK drive CoinDesk 20 index higher
Markets Look Ahead to Election 2024
As the dust settles on the French election, attention is already turning to the 2024 US presidential election. Polymarket traders are predicting a 29% chance that Ohio Republican JD Vance will be former President Trump’s running mate, up from 14% just a week ago.
Polymarket traders predict Trump-Vance ticket
Crypto-Friendly JD Vance Emerges as Dark Horse in 2024 Election
JD Vance’s rising star could be a boon for the crypto community, given his reputation as a crypto-friendly senator. As the election heats up, it remains to be seen whether his stance on cryptocurrency will prove a deciding factor for voters.
JD Vance’s crypto-friendly stance could prove a game-changer
