DOJ has been given green light to sell 69,370 BTC seized from the Silk Road. Coupled with the equities dropped as a result of potentially the FED won't cut interest rate this month (Jan 2025), crypto market is spooked, and BTC dropped from ~95k to now ~93.5k.
Will there be more liquidation? Probably. Or probably not, as usual, as market might have digested the news, but many are waiting at the sideline for more data and guidance.
Just trade carefully, as the focus is now closer towards the president inauguration in a week-plus time, and any other future policies to be announced by Trump.
I would expect Trump to protest the sale, and even support the notion of revealing the hacker "Individual X". This would provide some support to BTC. Let's see. #BTC #SilkRoad
