WHAT WE'VE SEEN SO FAR!!!
🕵️The price of #BTC has finally passed the $52 thousand mark. However, there are two looming big threats to the short-term price:
1. Genesis has received permission to sell 35 million GBC ($1.3 billion). On a similar scale, FTX once sold BTC worth > $1 billion, which presumably led to a drop in price from $49 thousand to $39 thousand in January;
2. The US government has filed a notice of sale of 2,875 BTC seized from Silk Road on January 25, 2024.
Currently, they remain one of the largest holders with 208 thousand BTC (~ $ 10.9 billion). The last time they allegedly sold 8.2 thousand BTC ($248 million) through Coinbase was in July 2023, which presumably led to a drop in price from $30.8 thousand to $ 30.2 thousand.
