Recent unconfirmed reports suggest that the Department of Justice (DOJ) might liquidate 69,370 BTC, worth approximately $6.5 billion, seized from the Silk Road marketplace. This news comes just before President-elect Donald Trump’s inauguration, who has promised not to sell the government’s 187,236 BTC. Despite the potential for a sell-off, several factors indicate that the market’s reaction might be exaggerated. Firstly, the market has already absorbed over 1 million BTC since September, with long-term holders reducing their holdings from 14.1 million to 13.1 million BTC. Secondly, historical data shows that the market can handle significant government sales; the German government sold around 50,000 BTC in mid-2023, yet the market bottomed out at $55,000 while they still held 25,000 BTC. This suggests that the market’s response to such sales is often pre-emptive, and the actual impact might be less severe than feared.
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![[WARNING] DOJ Cleared to Sell Billions of Bitcoin](https://i.ytimg.com/vi/04o7CPtWqsc/mqdefault.jpg)
![this is very bad for crypto.. [the market just changed]](https://i.ytimg.com/vi/4Qs95F3xL8o/mqdefault.jpg)
