Bitcoin Slumps Below $63K, Altcoins Rekt, as Crypto Succumbs to Risk Off Mood

Having already suffered the sale of 50,000 bitcoin by the German government in early July, the beginning of distributions from bankrupt exchange Mt. Gox, and looming sales from the U.S. government’s BTC stash, the Genesis action can now be added to the growing list of supply shocks for the crypto market.