The US government has been approved to liquidate $6.5 billion in Bitcoin: No need to panic

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On January 9, the crypto news platform DB News reported that the US government has been approved to liquidate 69,000 Bitcoins seized from the Silk Road dark web market, worth about $6.5 billion. Although the news has attracted market attention, experts remind investors not to worry too much.

According to data from Arkham Intelligence, the Bitcoin balance of the relevant address has dropped to zero on January 8, and the last transaction amount of the address on January 9 was only $0.51. However, the $6.5 billion Bitcoin balance still exists and has not caused a drastic impact on the market.

Cryptocurrency experts have reassured investors, and the well-known influencer "@trading_axe" said that the Bitcoin seized by the Trump administration has long been sold and has been supported by Coinbase's credit line. "The sale of these Bitcoins has been completed and the market will not be significantly impacted," he mentioned in a tweet.

Arthur Hayes, co-founder of BitMEX, said, "I'm ready to buy at a low price." CryptoQuant CEO Ki Young Ju also pointed out that the market had a huge inflow of funds last year, and $6.5 billion in Bitcoin may be absorbed by the market soon.

Although the price of Bitcoin briefly rebounded to six figures on January 7, it then fell back. At the time of writing, the price of BTC was about $94,050. Experts believe that even if there are short-term fluctuations, the market still has enough funds to digest these Bitcoins, so there is no need to panic.

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