![[Analysis] “US Government’s Bitcoin Sale Unlikely to Significantly Impact Price”
#CriptoNews](https://i0.wp.com/media.bloomingbit.io/prod/news/7acacccd-672f-4b57-8d7d-005f3792137f.webp?fit=1920%2C1081&ssl=1)
Financial Insights That Matter
As the US government appears poised to dispose of Bitcoin (BTC) seized from the dark web Silk Road, analysis suggests that this selling pressure is unlikely to significantly impact Bitcoin’s price.
On the 10th, on-chain data analysis platform CryptoQuant stated, “The 69,370 BTC from Silk Road has not yet been sold, but Bitcoin’s price has fallen by 13.5% from its peak. This is due to loss sales by short-term investors,” it explained.
It added, “From a long-term perspective, the selling pressure from Silk Road’s Bitcoin is not significant. Compared to the $391.7 billion increase in Bitcoin’s realized market cap over the past year, the Silk Road Bitcoin amounts to only $6.5 billion,” adding, “If Bitcoin is sold through exchanges, short-term volatility may occur.”
#1a73e8;">Boost Your Financial Knowledge and Achieve Stability
Discover a growing online community dedicated to delivering financial news, tips, and strategies designed to help you manage money effectively, save smarter, and grow your investments with confidence.
#1a73e8;">Top Financial Tips for Saving and Investing
- Personal Finance Management: Master the art of budgeting, expense tracking, and building a strong financial foundation.
- Investment Opportunities: Stay updated on market trends, learn about stocks, and explore secure ways to grow your wealth.
- Expert Money-Saving Advice: Access proven techniques to reduce expenses and maximize your financial potential.