Bitcoin (BTC) managed to bounce back above $66,000 on April 3 despite a brief decline triggered by the sale of Silk Road-confiscated BTC. The U.S. government sold a portion of the 30,000 BTC seized, worth $2.1 billion, causing some fluctuations in the market.

The sale of BTC from Silk Road initially disrupted the market, but traders quickly restored stability. Trading expert Michaël van de Poppe acknowledged the presence of both positive and negative market sentiments, highlighting the impact of bearish narratives during peak bullish periods. Despite the bearish atmosphere surrounding the Silk Road Bitcoin sale, Van de Poppe welcomed the increased availability of BTC.

In contrast to the sell-off of Silk Road BTC, U.S. spot Bitcoin ETFs experienced strong inflows, with data from Farside indicating over $40 million on April 2 and $183 million on March 28. This influx of funds exceeded the amount generated by the government's BTC sale.

Market analysts like Skew and Jelle looked positively towards the future, expecting continued momentum from spot buyers and emphasizing the bullish trend in the Bitcoin market. Van de Poppe reassured traders that corrections are natural occurrences in any market, expressing a preference for market dips as opportunities for purchasing.