According to ChainCatcher, market concerns about the U.S. Department of Justice's possible liquidation of 69,370 Silk Road bitcoins seem exaggerated. Although the number is large, the government usually follows the principle of optimal price and is expected to liquidate in an orderly batch manner. The market has long expected this and some of the impact has been digested.

Since September 2024, long-term holders have reduced their Bitcoin holdings by more than 1 million, but the price has still risen from $60,000 to more than $100,000, showing strong market demand.

The German government's Bitcoin sell-off in 2023 provides a reference for liquidations of similar scale, indicating that such sell-offs are not enough to dominate market trends. 📈