Elon Musk’s space company SpaceX’s bitcoin (B T c) created a crisis in cryptocurrencies.
Important information was published last night about SpaceX, the space company owned by Elon Musk. The company appears to have sold $373 million worth of BTC in 2021-22, bringing BTC down by 12.30 percent. Ultimately, BTC, which was tracking these prices in mid-June, reached its lowest level in the last 2 months.
The price dropped due to the news
The news flow that has been positive for cryptocurrencies recently has reversed this time. SpaceX’s BTC sale has deeply affected investor psychology, considering Elon Musk’s ties to the industry. Starting the decline from $28,660, BTC settled at $25,131 and immediately lost 12,31 percent of its value.
Although the price has reached $26,510 at the time of writing, the risk-taking process in the cryptocurrency is not over yet. The SEC’s green light on the ETH ETF adds to the confusion that began last night, but the fear and panic among investors continues.