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- Bitcoin dips as U.S. moves $2 billion 📉
Bitcoin dips as U.S. moves $2 billion 📉
Soon after touching $70,000, a major move from the U.S. government accelerated Bitcoin's decline, triggering another wave of liquidations.
Andrew Hayward
July 29, 2024
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📝 What you need to know
Following a busy weekend for Bitcoin moves, including Donald Trump vowing to create a “strategic Bitcoin stockpile” for the U.S. if elected and Senator Cynthia Lummis announcing her own Bitcoin reserve proposal, the price of Bitcoin touched $70,000 early Monday for the first time in several weeks.
And then it fell. Bitcoin was already on its way down when a wallet connected to the U.S. government moved over $2 billion worth of seized BTC tied to the Silk Road dark web marketplace. That accelerated the decline, with BTC dipping below $67,000 before rebounding slightly—but the volatile price action only supercharged the tally of crypto liquidations over the past day.
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💬 Quote of the Day
“Have a good time with your Bitcoin and your crypto, and everything else that you’re playing with. We’re going to make that one of the greatest industries on earth.”
—Donald Trump closing out his Bitcoin 2024 keynote
🌐 From Our Hubs
From Our Partner
Short for “United For Kindness,” UNFK is engaging the crypto community to promote positive change by putting social pressure on banks and other big institutions using memes and pranks.
UNFK is gearing up for the next phase of its campaign with the release of its web app—and a meme competition directed at crypto’s favorite regulator, U.S. Securities and Exchange Commission (SEC) chair Gary Gensler, with up to $10,000 in SOL up for grabs.
