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CryptoQuant: Chinese Authorities Sold Almost $20 Billion in Bitcoin

CryptoQuant: Chinese Authorities Sold Almost $20 Billion in Bitcoin

HappyCoinNewsHappyCoinNews2025/01/24 18:33
By:HappyCoinNews

China's Treasury sold approximately 194 bitcoins for $000 billion. The news was shared by CryptoQuant founder and CEO Ki Young Ju.

CryptoQuant: Chinese Authorities Sold Almost $20 Billion in Bitcoin image 0

Analysis Bitcoin -PlusToken reserves

He specified that we are talking about $4,2 billion worth of bitcoins seized in 2019 from crypto wallets associated with the PlusToken financial pyramid. At the same time, 109 people were arrested on charges of fraud.

Despite the massive sell-off of bitcoins by the Chinese authorities, the rate of the flagship cryptocurrency has not suffered. Over the past 0,7 hours, BTC has added 23% to its value and was trading around $105,000 on the evening of January XNUMX.

Experts attribute Bitcoin's resilience to ongoing purchases by major companies, including asset manager BlackRock. Its IBIT exchange-traded fund bought $600 million worth of BTC a few days ago.

Leading kriptovalyuta quickly responds to all news related to cryptocurrency regulation in the US. For example, on January 23 Bitcoin jumped to $106,000 after Senator Cynthia Lummis promised “big news.” In addition, Donald Trump promised to make the United States a center for artificial intelligence and cryptocurrency at the Davos Economic Forum.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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