In recent days, the cryptocurrency universe has been paying attention to the sale of cryptocurrencies by FTX. Cryptocurrency exchange FTX, after facing financial adversity, obtained Judge John Dorsey's blessing to liquidate its digital assets. The amount involved? No less than US$3,4 billion. This generated conversations and speculation in different corners of the market, from enthusiasts to the most renowned experts.
FTX, recognizing the challenges, had requested permission in August, arguing that liquidating such assets would not only minimize losses but also amplify returns on parked cryptos, benefiting estates and creditors.
Among the voices echoing insights into this event, Michael Van de Poppe, a renowned cryptocurrency analyst, brought a calm perspective. In short, he believes that, despite the astronomical figures involved, the effect on the market due to the sale of FTX and also the recent Consumer Price Index (CPI) data will not be that significant.
Michael Van de Poppe explains that Solana, a cryptocurrency that represents US$1,2 billion of FTX's assets, was already mostly compromised and is not available for sale. And although FTX can sell up to $200 million worth of assets weekly, many believe that most of the potential effects are already reflected in current prices.
Still according to Michael Van de Poppe, we cannot ignore, however, the most recent data of the IPC. A slight recovery was observed, with inflation peaking and yields falling 1%. Furthermore, the expectation is that the PPI (Producer Price Index) will present values below expectations soon.
In the midst of this entire scenario, Bitcoin is firm, floating around US$26,1 thousand and trying to move beyond resistance, after reaching US$25 thousand. What is clear is that the next moves above $26,3K are crucial in indicating upward momentum, while essential support lies at the $25,3-25,6K mark.
