Jan3 CEO: Bitcoin price may be artificially suppressed

According to Golden Finance, Samson Mow, CEO of Bitcoin wallet company Jan3 and founder of Pixelmatic, warned at the Consensus Hong Kong Cryptocurrency Conference that Bitcoin prices may be artificially suppressed. Although retail buyers are buying Bitcoin through regular investments, there seems to still be selling pressure. "Although institutions and retail buyers are increasing their holdings of Bitcoin, the price has not risen, so there must be someone selling." Last year, due to bankruptcy and restructuring, the market saw the emergence of structured sellers, but that period has basically ended. In addition, the repayment process of FTX has also intensified selling pressure. The company will repay based on the price of approximately $20000 in Bitcoin in November 2022. As creditors attempt to realize profits, this may lead to more selling, and FTX sells Bitcoin at much lower prices, which can explain why Bitcoin prices lack upward momentum.