Bitcoin Plummets China Dumps 194K BTC

China’s Alleged Bitcoin Sale Sparks Market Concerns

• CryptoQuant CEO claims China sold 194,000 Bitcoin, affecting market sentiment.
• The sale reportedly contradicts official statements of transferring BTC to the national treasury.
• On-chain data suggests BTC was distributed through exchanges like Huobi using mixers.
• Some reports indicate China still holds these Bitcoins, making it the second-largest holder after the US.
• The discrepancy raises questions about China’s true Bitcoin position and adds to market uncertainty.

The CryptoQuant CEO’s assertion that China sold its entire Bitcoin holdings of 194,000 BTC contrasts with claims that these assets remain in China’s possession, fueling debate over the country’s actual crypto stance.