Bitcoin's struggle to maintain the $97,000 level amid significant governmental sales raises concerns about potential selloff pressures and investor confidence, despite ongoing institutional interest.
The recent transfer of 19,800 BTC by the U.S. government could signal downward pressure, echoing previous selloffs that negatively impacted prices during substantial offloads.
MicroStrategy's aggressive accumulation of Bitcoin highlights a continued institutional interest, with 15,400 BTC purchased recently, reinforcing optimism around Bitcoin's future potential amidst a fluctuating market.
While Bitcoin's futures market experiences a decline in activity, XRP futures surge, demonstrating the differences in market dynamics and investor sentiment between the two cryptocurrencies.
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