Why is $BTC dumping?

Over the past week, Bitcoin has dropped from $71k to $57k, a decline of around 20%, something we haven't seen in a long time.

** Mt. Gox-** This cryptocurrency exchange collapsed in 2014 due to a hacking attack.
Late last month, news emerged that Mt. Gox is ready to repay its creditors. The exchange's representatives will distribute 142,000 BTC (0.68% of total supply) among its clients.
Many fear that creditors will decide to sell the received Bitcoins. Given the amount of BTC they will have, this will undoubtedly impact the market. Moreover, the mere fear that this might happen is causing many to sell their assets.

Germany
The German government owns a significant amount of BTC and has started selling its assets.
According to Arkham, the German government recently transferred 400 BTC to the exchanges Bitstamp, Coinbase, and Kraken.
In total, 2,700 BTC have been moved to exchanges from the government's wallet over the past two weeks.

Pro
** Major Investors are not selling BTC**
Despite Bitcoin's decline, companies are not selling their assets. On the contrary, many have started buying BTC amidst the drop.
The largest miner, Marathon Digital Holdings, has not disposed of its assets, despite needing to free up capital.
It is also worth noting that miner capitulation might signal an impending trend reversal
Statistics indicate that BTC usually begins to rise about four months after a halving event
If history repeats itself, bulls might be able to drive out the bears by the end of the summer

U.S. Elections
The crypto community in America is growing rapidly, and presidential candidates have not ignored this topic
After the latest debates, everyone is convinced that Donald Trump, who openly promises to support the development of the crypto market, will become president
If he wins, the head of the SEC could be someone favorable to cryptocurrency

#copied