$BTC has pulled back again. The market always goes against the expectations of most people. Last night, the release of US CPI data made the expectation of a 50 basis point interest rate cut in November fail, while the probability of a 25 basis point interest rate cut is as high as 85%.

Since September 8, the price of Bitcoin has risen from about US$53,000 to US$66,000 at the end of September, and has experienced a nearly one-month rise. However, although everyone expected October to continue the rise, it encountered an unexpected low opening and low closing. Looking back at the past ten years, Bitcoin's average increase in October reached 22%, but whether it can break the routine or return to the average level this year remains to be seen.

October has just begun, let's take a look at the news: the US government is preparing to sell 69,370 bitcoins seized from the Silk Road market, and 15,700 ethers related to the Chinese PlusToken scam are also facing a market crash. In addition, the war between Israel and Iran has escalated, the Ethereum Foundation has sold 100 ethers again, and Sun Yuchen's sale of 600 bitcoins has caused market panic.

In the past week, bad news has been coming out frequently. Among them, the United States may soon sell 69,000 bitcoins, which were originally related to the Silk Road black market and were finally officially confiscated after years of legal proceedings. Since the court has ordered the US government to dispose of the confiscated cryptocurrencies in accordance with the law, the US Marshals or other agencies may soon receive sales orders, which may have an adverse impact on the short-term price of Bitcoin.

Globally, governments in many countries are filling fiscal gaps by selling cryptocurrencies seized by law enforcement agencies. For example, the German government has previously sold 50,000 bitcoins to ease financial pressure. At present, the US presidential election is at a critical stage, and this series of events has undoubtedly added more uncertainty to the market.