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Bitcoin Traders Target $50K as Billions in BTC Selling Pressure Looms

“Bitcoin selling pressure is unlikely to decrease in the coming days,” said Rachel Lin, founder at on-chain crypto exchange SynFutures, in an interview. “The German government still has over $2.3 billion worth of Bitcoin, Mt. Gox has more than $8 billion, and the US government has over $12 billion.

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