{"id":22976,"date":"2023-08-18T10:56:32","date_gmt":"2023-08-18T10:56:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/spacex-sells-373-million-in-bitcoin-adding-pressure-to-crypto-markets\/"},"modified":"2023-08-18T10:56:32","modified_gmt":"2023-08-18T10:56:32","slug":"spacex-sells-373-million-in-bitcoin-adding-pressure-to-crypto-markets","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/spacex-sells-373-million-in-bitcoin-adding-pressure-to-crypto-markets\/","title":{"rendered":"SpaceX Sells $373 Million in Bitcoin, Adding Pressure to Crypto Markets"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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SpaceX, the space exploration company led by Elon Musk, has sold its entire bitcoin holdings, which were valued at around $373 million. This move comes during a period of weakness in the cryptocurrency market, and its timing has prompted speculation among industry insiders and observers.<\/p>\n

After news broke of SpaceX\u2019s sell-off, major cryptocurrencies experienced nearly $800 million in position liquidations within a mere 30 minutes. While it remains unclear whether SpaceX\u2019s sale was the catalyst for these liquidations, it certainly coincided with them.<\/p>\n

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Bitcoin<\/a>, the world\u2019s leading cryptocurrency, saw its price fall sharply, touching as low as $25,409.11 on Thursday evening. However, it did experience partial recovery, trading at around $26,206 at the time of writing according to CoinMarketCap<\/a> data. This represents an 8.3% decrease compared to the previous 24 hours. It\u2019s worth noting that Bitcoin had already been under pressure due to factors such as a strong dollar and risk-off trading, which had been impacting the cryptocurrency market.<\/p>\n

The implications of SpaceX\u2019s decision are still unclear. Some market analysts perceive the sale as a negative signal for bitcoin. As a high-profile company with significant investments in bitcoin, SpaceX\u2019s move could potentially sway other institutional investors to take similar actions.<\/p>\n

However, the broader impact of SpaceX\u2019s bitcoin sale remains uncertain. The cryptocurrency markets are known for their volatility and are often influenced by speculation-driven price swings. While the market reaction to SpaceX\u2019s decision has been pronounced, it remains to be seen whether this sale represents a broader loss of institutional confidence or is simply a one-off event. The future of the cryptocurrency market will likely depend on whether enough buyers step in to absorb the increased sell orders.<\/p>\n

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(Originally posted on : Crypto News – iGaming.org ) SpaceX, the space exploration company led by Elon Musk, has sold its entire bitcoin holdings, which were valued at around $373 million. This move comes during a period of weakness in the cryptocurrency market, and its timing has prompted speculation among industry insiders and observers. After […]<\/p>\n","protected":false},"author":5,"featured_media":22977,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22976"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=22976"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/22976\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/22977"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=22976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=22976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=22976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}