The $BTC and $ETH markets have been flooded with new supply and increased selling pressure of late:

1️⃣Grayscale’s $ETHE ETF (its high fees are pushing investors to sell)

2️⃣Mt. Gox (repaying creditors that lost $BTC in their 2014 collapse)

3️⃣German Gov. (selling off its seized $BTC)

4️⃣US Gov. (potentially selling off the $BTC it seized from Silk Road)

The good news is, 124k of the total 227k $BTC to be sold has already been absorbed by the market.

Markets to continue grinding sideways, as the market absorbs the last of this known supply. Once those clouds part 🚀
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