Metaplanet Denies $320M Bitcoin Sale Amid BitBonds Launch
Metaplanet has denied selling $320M in Bitcoin amidst its announcement of launching BitBonds. The move directly counters market speculation surrounding the sale.
The price of BTC currently stands at $63,163.6, showing bearish EMA50 resistance at $64,099.57 on the 4h chart.
Metaplanet's denial of selling Bitcoin comes as a surprise to many in the market, with some speculating that the funds could be used for the launch of BitBonds. However, it remains unclear what the actual use case is for these funds.
The bearish trend structure holds strong, with the price remaining below EMA50 at $64,099.57 and EMA200 at $63,716.69. The MACD prints a death cross at -293.3, indicating a potential downside continuation before any reversal in BTC's price prediction.