Bitcoin Dips Below $26,500 Amid US Government BTC Sale Rumors
Bitcoin, the world’s largest cryptocurrency by Market capitalization, has seen a significant dip in its value, dropping below the $26,500 mark amidst rumours of a US government sale of BTC.
Bitcoin has plunged by over 10% in the past week, becoming its second-worst week since its price tapped a 10-month high of $30,000 last month. The latest dip comes amidst rumours that the US government plans to sell a large amount of Bitcoin from its reserves, potentially flooding the market and driving down prices even further.
As ZyCrypto reported, on March 14th, the US government reportedly sold 9,861 Bitcoin, worth approximately $215 million, seized from criminals involved in illegal activities on the Silk Road website. According to a court filing in April, the US government revealed it further plans to sell another 41,490 BTC in connection with Silk Road in four separate batches this year. The online marketplace facilitated illegal activities and was seized by law enforcement agencies in 2013.
Read More: https://zycrypto.com/bitcoin-dips-below-26500-amid-us-government-btc-sale-rumors/
Bitcoin Dips Below $26,500 Amid US Government BTC Sale Rumors
Bitcoin, the world’s largest cryptocurrency by Market capitalization, has seen a significant dip in its value, dropping below the $26,500 mark amidst rumours of a US government sale of BTC.
Bitcoin has plunged by over 10% in the past week, becoming its second-worst week since its price tapped a 10-month high of $30,000 last month. The latest dip comes amidst rumours that the US government plans to sell a large amount of Bitcoin from its reserves, potentially flooding the market and driving down prices even further....
