On Jan. 9, crypto information feed DB Information reported that “an official confirmed” the US authorities has been given the inexperienced mild to liquidate 69,000 BTC value round $6.5 billion from Silk Highway seizures.
An unsourced screenshot learn, “A federal decide dominated on Dec. 30 that the DoJ (Division of Justice) can promote 69,370 Bitcoin seized from the Silk Highway darknet market, officers confirmed.”
No Must Panic
In response to Arkham Intelligence, there was a pointy drop in BTC holdings at that tackle (bc1qa), which fell to zero on Jan. 8.
It additionally confirmed the most recent transaction from that tackle on Jan. 9 of simply $0.51 value of BTC and nonetheless reviews the stability being valued at $6.5 billion.
Nevertheless, Blockchain.com’s explorer confirmed that the stability is unchanged and stays at 69,370 BTC.
Crypto influencer ‘@trading_axe’ advised his 80,000 followers on X that “the seized BTC that was meant for use for a ‘strategic reserve’ underneath the Trump administration was offered off already, with a credit score line sanctioned by Coinbase.”
“They spent months distributing and couldn’t point out it as a result of Kamala was operating towards Trump. The liberals wanted to keep up a ‘optimistic picture’ and desperately wanted crypto voters. THERE IS NO BITCOIN LEFT TO SELL.”
Crypto commentator ‘MartyParty’ additionally mentioned, “It’s already occurred. No have to FUD.”
In the meantime, BitMEX co-founder Arthur Hayes quipped, “My diamond arms are prepared to purchase the f**king dip. Ship it to goblin city gradual Joe!!!” and Max Keiser ran a ballot.
CryptoQuant CEO Ki Younger Ju noticed that final yr, $379 billion entered the market based mostly on a realized cap, which is roughly $1 billion per day.
“The U.S. govt promoting $6.5 billion could possibly be absorbed in only a week. Don’t panic.”
Bitcoin Value Response
Bitcoin costs have been falling again for the previous couple of days after it reclaimed the six-figure degree briefly on Jan. 7.
There was no instant response to this ‘information,’ and the asset was down 2% on the day at $94,050 on the time of writing after falling to an intraday low of $92,500 on Wednesday.
BTC has returned to its rangebound channel, the place it has been consolidating since mid-November. Panic promoting might begin if it falls beneath the underside band of that channel at $90,000.
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