tldr; Over the past 72 hours, more than 63,000 BTC, valued at approximately $1.83 billion, were sent to crypto exchanges, according to CryptoQuant. This includes 28,000 BTC on Oct. 7, 23,500 BTC on Oct. 8, and 12,000 BTC on Oct. 9. Such inflows suggest potential selling pressure as investors typically move large sums to exchanges to liquidate. Bitcoin’s price has been declining, influenced by macroeconomic factors like inflation and jobless claims. Concerns also arise over a potential sell-off of 69,370 BTC seized by the U.S. government from the Silk Road raid.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
middlemangv on
Is that US government selling BTC?
tatlik on
TBH, I’m losing hope now. No indication of a Bullrun. Everything goes against all the logic compared to previous cycles. I don’t even think the US election will influence the market that much. Everything is going down. Everyone is selling and no sign of new retail incoming. Idk, I was so bullish for the last two years, but I’m tired of it. Just wanted to share my pov here. Anyway, I’m open for discussion. Have a great day guys!
kirtash93 on
Time to sell my kidney and buy the dip.
Maleficent_Sound_919 on
When does it stop…
partymsl on
Uptober was the friends we made along the way.
Abdeliq on
I thought this month will be profitable but the news articles is always bearish
Sele81 on
The never ending doomsday news for Bitcoin. Every month there is a new one. A week after world war 3 dump, us government dump. Next week it’s China bans Bitcoin again?
MPH2025 on
That’s about 3.8 billion,
I bet it’s the government
itsaBazinga on
It looks like people are trying to sell before the US government offloads their bags.
ShittingOutPosts on
Watch the price drop to $55K, then bounce back up to around $65K a week later. Just more sideways movement.
13 Comments
tldr; Over the past 72 hours, more than 63,000 BTC, valued at approximately $1.83 billion, were sent to crypto exchanges, according to CryptoQuant. This includes 28,000 BTC on Oct. 7, 23,500 BTC on Oct. 8, and 12,000 BTC on Oct. 9. Such inflows suggest potential selling pressure as investors typically move large sums to exchanges to liquidate. Bitcoin’s price has been declining, influenced by macroeconomic factors like inflation and jobless claims. Concerns also arise over a potential sell-off of 69,370 BTC seized by the U.S. government from the Silk Road raid.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Is that US government selling BTC?
TBH, I’m losing hope now. No indication of a Bullrun. Everything goes against all the logic compared to previous cycles. I don’t even think the US election will influence the market that much. Everything is going down. Everyone is selling and no sign of new retail incoming. Idk, I was so bullish for the last two years, but I’m tired of it. Just wanted to share my pov here. Anyway, I’m open for discussion. Have a great day guys!
Time to sell my kidney and buy the dip.
When does it stop…
Uptober was the friends we made along the way.
I thought this month will be profitable but the news articles is always bearish
The never ending doomsday news for Bitcoin. Every month there is a new one. A week after world war 3 dump, us government dump. Next week it’s China bans Bitcoin again?
That’s about 3.8 billion,
I bet it’s the government
It looks like people are trying to sell before the US government offloads their bags.
Watch the price drop to $55K, then bounce back up to around $65K a week later. Just more sideways movement.
Get ready here comes the red!
Apparently this is the address where the US govt holds the seized funds from Silk Road – [https://mempool.space/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6](https://mempool.space/address/bc1qa5wkgaew2dkv56kfvj49j0av5nml45x9ek9hz6)