In recent Bitcoin news, the creator of the cryptocurrency, Satoshi Nakamoto, has been back in the spotlight. A recent email and the resurgence of an X account allegedly associated with Nakamoto attracted the crypto community’s attention, an event that could impact BTC’s price action.
As of this writing, Bitcoin trades at $27,600 after hitting a 24-hour high of $28,500 and losing momentum. The cryptocurrency rallied back to these highs, but a spike in selling pressure killed the upside price action in the short term.Bitcoin News Around Satoshi Nakamoto To Impact BTC Price?
Two Bitcoin news associated with Satoshi Nakamoto, the re-emergence of the satoshi handle on social media X, and an email sent to computer scientist Wei Dai have been making the rounds. Only two of these events are genuinely linked to the Bitcoin inventor: the email where Nakamoto expresses admiration for Dai.Bitcoin Price Analysis, Bearish Momentum To Extend?
The Bitcoin price action and the re-emergence of this X account seem unrelated and more likely classified into the series of memes coming out of the event. However, the price of the cryptocurrency shows signs of further losses.As NewsBTC reported yesterday, based on data from QCP Capital, the recent rally was driven by seasonality and the approval of an Ethereum futures exchange-traded fund (ETF) in the US. The second of these events has been proven to operate as a bearish catalyzer for the crypto market. The trading firm said:
We would even go further to say a futures-only ETF is arguably detrimental to spot price – as it potentially directs demand away from the spot market into a synthetic market.Cover image from Unsplash, chart from Tradingview