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BTC Performance During US Market Hours Suggests Govt Selling as a Key Factor in Lack of Upside, Keep an Eye on Prediction Markets

Aug 20, 2024
Author
Sean Farrell
Sean Farrell AC

Macro conditions have been ideal for a rally, yet BTC has struggled to break out, underperforming equities. We suspect government sales of 10k seized BTC are a major contributor to this relative weakness. However, we believe this pressure will ease soon, reducing the short-term bearish outlook. Additionally, we explore shifting trends in the presidential prediction markets.

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