Assessing Bitcoin’s [BTC] losses as it fails to recover from the fake news-induced FUD

The fake news of U.S government divesting its BTC holdings resulted in the second-largest long liquidation for BTC in 2023.

The divergence between daily miner revenue and 365-day SMA has broadened since the start of 2023.Bitcoin [BTC]

recorded losses for the second day in a row, plunging to its lowest level in nearly two months. At the time of writing, the coin exchanged hands at $26,332.73, a sharp descent from the $28,000 level attained barely two days ago.As BTC sneezed, the broader crypto market caught cold. Major assets were trading in red and the global crypto market cap reduced by nearly 3% from the previous day, data fromMuch of the sell-off was driven by FUD triggered due to the news of U.S.

As the rumor travelled far and wide, it resulted in the second-largest long liquidation for BTC in 2023, with positions worth $36 million getting liquidated within an hour on 10 May. Coordinated FAKE NEWS about US government selling Bitcoins leads to second-largest long liquidations in 2023 "Many accounts retweeted this news without any fact-checking, and as a result, we saw the second-largest long liquidations in 2023, with over $36M being liquidated within…

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