📈 $BTC #Santiment : Bitcoin has bounced all the way back above $69K after dropping below $65K just two days ago. The culprit of the fall, according to most of the crypto community, is attributed to the U.S. government authorities' admission to selling nearly 10,000 BTC from the Silk Road seizure. There is expected to be four more similar sized sell-offs throughout 2024, which has evoked major fear from traders.

As we can see, there have been two major spikes in crowd interest related to Silk Road in 2024, and both of them foreshadowed nearly instant crypto market spikes immediately afterward. Markets typically move the opposite direction of the crowd's expectation, so if fear continues, expect further price rises.