Bitcoin experienced a crash on Friday, dropping to $26,166 and struggling to rise above $26,500. CryptoQuant, a crypto market analytics platform, suggested that a coordinated FUD (fear, uncertainty, and doubt) campaign against the primary cryptocurrency may be responsible for the recent fall, leading to a wave of liquidations.
The US government did not sell its Bitcoin, despite rumors circulating on social media. CryptoQuant's on-chain data platform and Glassnode both report that the US government's on-chain balance is 205,514 Bitcoin, which has not changed in recent days. Despite the recent market fears, CryptoQuant remains bullish on Bitcoin, with institutional investors reportedly eyeing Q3 and Q4 2023 as a time to invest.
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