QCP Capital: The US government's transfer of BTC, Mt. Gox, and Genesis repayments has collectively brought panic selling pressure to the market

ChainCatcher news, QCP Capital stated in an official channel that the market violently reversed the positive surge brought by Trump's speech for the cryptocurrency market this week, with the BTC price dropping from a post-speech high of 70,000 to nearly 60,000 this morning. The reasons for the decline include selling pressure from the U.S. government (about 28,000 BTC), Mt. Gox (33,960 BTC), and Genesis (BTC and ETH worth 1.5 billion USD); Bitcoin mining difficulty adjusted to a historical high, and an increase in recession expectations. From the options market data, price volatility is expected to stabilize over the summer.