According to ChainCatcher, the U.S. Supreme Court rejected Battle Born Investment’s claim to ownership of $4.4 billion worth of Bitcoin, allowing the U.S. government to proceed with the sale of the seized digital assets from the Silk Road market.

The negative sentiment brought about by this news and the tensions at the geopolitical level offset the market's optimism, causing the currency price to fall 2% during the day to challenge the 62k support level and the subsequent surge in realized volatility.

Some analysts believe that this wave of market conditions may be a healthy correction for BTC. The risk-averse sentiment shown by investors at high levels has allowed the price of the currency to temporarily retreat to the support range above 60k, reducing the possibility of a sudden decline in the future.