Bitcoin Falls on US Government Coin Sale News

Ambar Warrick

Author

Ambar Warrick

Published 01/09/2025, 09:06

Bitcoin Falls on US Government Coin Sale News

© Reuters.

BTC/USD

-2.79%

XRP/USD

-1.67%

ETH/USD

-3.63%

Investing.com - Bitcoin fell on Thursday, extending a streak of sharp losses as risk appetite was dented by hawkish signals from the Federal Reserve, while the prospect of a US government coin sale also came under threat.

The world's largest cryptocurrency has largely erased recent gains this week, following a broader slide in risk assets as traders anticipate a slowdown in the pace of rate cuts in 2025.

Other cryptocurrencies also fell, though losses were more heavily weighted toward Bitcoin on Thursday after reports that the Justice Department had received court approval to sell coins seized in the Silk Road investigation.

Bitcoin was down 1% at $94,495 by 09:10 GMT, after falling as low as $93,632 earlier in the session. The coin had hit its Dec. 31 low of $92,863 the day before.

Justice Department Receives Court Approval to Sell $6.5 Billion in Bitcoin