$BTC
Analysis of the impact of the sale of 69,000 Bitcoins by the US government
The sale of 69,000 Bitcoins by the US government could have a significant impact on the market.
1. Total Bitcoin Supply
Maximum supply: 21,000,000 Bitcoins
Bitcoins mined to date (January 2025): 19,500,000 Bitcoins
Active Bitcoins: Approximately 15,000,000 Bitcoins
69,000 Bitcoins are equivalent to 0.46% of the total supply and 0.65% of active Bitcoins.
2. The impact of supply and demand
The price of Bitcoin is a function of supply and demand:
A sudden increase in supply causes the price to decrease. If this sell-off happens all at once, there is a possibility of a 5-10% drop.
3. Sale value and trading volume
Sale volume: $6.3 billion (at $91,400)
Daily trading volume: around $20 billion
This is 31.5% of the daily trading volume and is creating selling pressure.
4. Selling strategy and impact
A gradual sell-off can reduce the negative impact and give the market time to absorb these bitcoins.
Conclusion:
Short term: 5-10% price drop in case of a sudden sell-off.
Long term: Low impact with gradual sell-off.
Poll:
Do you think this sell-off will have a long-term impact on the price of bitcoin?
Yes
No
No opinion
