CEO CryptoQuant don reveal China sale of PlusToken Bitcoin wey dem seize
Ki Young Ju, CEO of CryptoQuant, dey claim say di Chinese government don liquidate di whole 194,775 Bitcoin stash wey dem seize from PlusToken scam since 2019. Even though China don make official statement say dem go transfer di assets go di national treasure, CryptoQuant don show with on-chain analysis say di Bitcoin fit don sell through mixers and exchanges. Dis one dey contradict China story and e align with earlier accusations wey say dem dey sell PlusToken assets between 2019-2020, during di period wey dem dey regulate crypto very tight. Dis move include exchanges wey like Huobi and e influence serious market movements. Di PlusToken scandal affect two million investors, wey lead to serious crypto confiscations. Ju findings dey stress say e no dey likely say China go hold such volatile asset and e show di potential consequences for di crypto market.
Bearish
D disclosing say China don sell dem seize PlusToken Bitcoin fit make pipo dey feel bad for crypto market, especially if traders dey tink say more big government sales fit happen. Dis news dey raise concern about how regulation fit affect Bitcoin price stability, as di liquidation dey go against wetin dey been talk before, and e fit mean say more crypto sales go happen between governments. Dis kind uncertainty about asset holdings and sales usually dey lead to market volatility increase, wey no go allow bullish market movements for short term.