China’s Bitcoin Sales: Potential for Market Downturn?

Reports suggest that China, despite a ban on crypto trading within its borders, is quietly selling confiscated Bitcoin. These sales, facilitated by third-party intermediaries, have generated approximately $400 million in revenue. This activity raises concerns about market stability and potential price drops for Bitcoin. Experts believe this could lead to a decline of up to $40,000 due to the potential for further sales or lack of regulatory oversight.