• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Bitcoin Plummets: Court Approves Sale of Silk Road Assets

user avatar

by Giorgi Kostiuk

a year ago

Bitcoin experienced a sharp drop to $93,000 following a US court's approval for the sale of over 69,000 Bitcoin seized from Silk Road.

Court Decision on Sale

A US court allowed the Department of Justice to sell 69,370 Bitcoins seized from Silk Road. A department spokesperson confirmed the decision to act quickly due to Bitcoin's volatility.

Market Reaction

Following the sales permission, Bitcoin's price fell to $93,000, sparking questions about a potential further decline below $90,000. Altcoins also faced declines, falling up to 5%.

Market Consequences

This decline resulted in $509 million in liquidations over the last 24 hours, with $364 million from long positions and $143 million from short positions. The largest loss on OKX was $15 million in the BTC/USDT pair.

The sale of seized Bitcoin is causing significant market reactions, showcasing volatility and potential implications for the cryptocurrency's future value.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Anthony Pompliano Claims Most of the Crypto Industry is Dead

chest

Bitcoin investor Anthony Pompliano claims that most of the crypto industry is dead and will not recover, highlighting the prevalence of ghost chains and zombie coins.

user avatarLucas Weissmann

Arthur Hayes Adjusts Bitcoin Price Target to $125,000

chest

Arthur Hayes revises Bitcoin price target from $500,000 to $125,000, citing the need for significant money printing and a reassessment of market conditions.

user avatarEmily Carter

Tokenized US Treasury Market Hits $8 Billion Milestone

chest

The market cap of tokenized US Treasuries on Ethereum has reached an all-time high of $8 billion, reflecting a remarkable growth of 100% over the past six months.

user avatarTomas Novak

Arthur Hayes Discusses Bitcoin Price Control Factors at Consensus Miami 2026

chest

Arthur Hayes discusses Bitcoin's value being primarily influenced by the expansion of the fiat money supply at Consensus Miami 2026.

user avatarFilippo Romano

MicroStrategy Faces Financial Losses Amid Bitcoin Strategy

chest

MicroStrategy reported a net loss of $12.54 billion for the quarter due to declines in Bitcoin fair value, raising concerns about its aggressive Bitcoin acquisition strategy.

user avatarKaterina Papadopoulou

XRP Integrated into Rakuten Wallet, Expanding Access to Millions

chest

XRP has been integrated into Rakuten Wallet, allowing 44 million users in Japan to access and use the cryptocurrency as a payment method.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.