Trump Media Sells More BTC, Sees $555M Loss After Initial Purchases
Trump Media has sold another 2,628 BTC for $165.07 million, bringing its total sales to 7,281 BTC worth $545 million at an average price of $74,855 per coin.
This sale marks a significant decrease in value from the initial purchase of 11,542 BTC for $1.37 billion, which averaged out to $118,522 per coin. As a result, Trump Media is now down $555 million on its holdings.
The current price of BTC is trading at $62,996.75 within its Bollinger Bands on the 4-hour chart, testing the upper resistance level at $65,227.31. The EMA50 and EMA200 are acting as overhead resistances, with values of $63,923.28 and $63,805.44 respectively.
The MACD death cross is indicating further downside pressure towards lower band support at $62,029.81 before any potential recovery in BTC price prediction models.