Reports of the U.S. possibly liquidating most of its Bitcoin holdings seized from the Silk Road darknet marketplace may be more impactful for short-term traders than for long-term spot holders, according to a market analyst.
What Happened: Pseudonymous cryptocurrency analyst Kun stated on X on Thursday that this type of news tends to cause mass liquidations in the derivatives markets due to increased volatility, but doesn’t necessarily have a negative impact on the underlying value of the asset for spot holders.
The U.S. Department of Justice has received clearance from a federal judge to sell 69,370 Bitcoin (CRYPTO: BTC), valued at roughly $6.5 billion, justified …
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