• 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

Dogecoin Open Interest Recovers After Significant Decline

chest

Dogecoin's open interest fell below 13 billion but has recovered to above 15 billion, indicating potential price recovery.

user avatarKenji Takahashi

Unverified Surge in Cryptocurrency Market Cap Raises Concerns

chest

Reports of an $80 billion increase in cryptocurrency market cap lack verification and official confirmation.

user avatarMaria Fernandez

Ethereum Achieves 87 Million Smart Contracts Deployed in Q4 2025

chest

Ethereum has reached a new milestone with 87 million smart contracts deployed, indicating strong growth in developer activity.

user avatarGustavo Mendoza

Regulatory Context of FLOW Delisting Watchlist in South Korea

chest

The recent placement of the FLOW token on the delisting watchlist by major South Korean exchanges is due to the enforcement of the Virtual Asset User Protection Act, which mandates rigorous standards for investor protection.

user avatarArif Mukhtar

Hyperliquid Launches HIP3 Upgrade to Enhance DeFi Functionality

chest

Hyperliquid has launched its HIP3 upgrade on the mainnet, allowing for the creation of permissionless perpetual DEX markets.

user avatarMiguel Rodriguez

HIP3 Upgrade Impacts HYPE Token and DeFi Market Dynamics

chest

The HIP3 upgrade requires significant collateral for HYPE tokens, affecting the DeFi market and increasing competitive pressure.

user avatarRajesh Kumar

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.