Risk of an 18,270 BTC dump
Hackers hold 18,270 BTC, and the risk of a dump creates a psychological ceiling for the market. They have been identified as North Korean and fund the country’s economy through cyber exploits.
If they dump, what will BTC’s support level be? Bitcoin will face heavy selling pressure, which could mathematically push it down to 72,500–72k, followed by a test of critical support at 70k–68k.
If this happens, we could see a cascading effect and a BTC crash, taking it down to other support zones such as 62k–60k–59k–48k–34k…
The reaction to this potential dump and the market’s behavior will depend on institutional liquidity and BTC ETF selling when the US market opens tomorrow.
DYOR
Hackers hold 18,270 BTC, and the risk of a dump creates a psychological ceiling for the market. They have been identified as North Korean and fund the country’s economy through cyber exploits.
If they dump, what will BTC’s support level be? Bitcoin will face heavy selling pressure, which could mathematically push it down to 72,500–72k, followed by a test of critical support at 70k–68k.
If this happens, we could see a cascading effect and a BTC crash, taking it down to other support zones such as 62k–60k–59k–48k–34k…
The reaction to this potential dump and the market’s behavior will depend on institutional liquidity and BTC ETF selling when the US market opens tomorrow.
DYOR