Token

Millions

Bitcoin

Spot

Grayscale Bitcoin Trust

<p>After rallying for seven straight days, the Bitcoin price finally reclaimed the $52,000 level for the first time in over two years. However,<a href="https://twitter.com/spotonchain/status/1757999094637924749?t=SGjBgAn44D19FG7DNRBvoQ&amp;s=19" target="_blank" rel="noopener noreferrer nofollow"> Spot On Chain </a>has identified two key upcoming events that could pose threats to Bitcoin’s short-term price action.</p>
<p>Genesis Approved to Sell $1.3B in GBTC <br>First, Genesis Trading was recently approved by a court to sell $1.3 billion worth of Grayscale Bitcoin Trust (GBTC) shares, totaling over 35 million shares, on February 15th. Spot On Chain notes that previous large-scale GBTC unlocks have preceded Bitcoin price drops.</p>
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="567" src="https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-1024x567.png" alt="" class="wp-image-438602" srcset="https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-1024x567.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-300x166.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-766x424.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-1536x850.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-2048x1133.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-271x150.png 271w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-100x55.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-633x350.png 633w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553-788x436.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/02/image-553.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<p><strong>US Government Plans Sale of Seized BTC </strong><br>Additionally, the analyst highlights that the US government recently filed notice to sell 2,875 BTC worth around $150 million that were seized from Silk Road. As one of the largest institutional Bitcoin holders, similar previous sales from the government coincided with price dips.</p>
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"><i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style>
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px">
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank" rel="noopener noreferrer nofollow"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div>
 </div>
</div>
<p>With Bitcoin facing its highest level in two years, these pending sales present potential headwinds that could interrupt its momentum. However, determined buying support could help the cryptocurrency power through the turbulence.</p>
<p>You may also be interested in:</p>
<ul>
 <li><a href="https://captainaltcoin.com/are-ethereum-tips-useful-this-smart-trader-made-over-2-million-in-12-hours-with-this-altcoin/" target="_blank" rel="noopener noreferrer nofollow">Are Ethereum Tips Useful? This Smart Trader Made Over $2 Million in 12 Hours With This Altcoin</a></li>
 <li><a href="https://captainaltcoin.com/major-network-upgrade-triggers-surge-in-sei-token-price-analyst-anticipate-seis-big-breakout/" target="_blank" rel="noopener noreferrer nofollow">Major Network Upgrade Triggers Surge in Sei Token Price: Analyst Anticipate SEI’s ‘Big Breakout’</a></li>
 <li><a href="https://captainaltcoin.com/intuitive-streaming-platform-deestream-dst-get-cardano-ada-litecoin-ltc-investors-pouring-in-early-as-presale-looks-to-hit-40x-in-months/" target="_blank" rel="noopener noreferrer nofollow">Intuitive streaming platform DeeStream (DST) get Cardano (ADA) &amp; Litecoin (LTC) investors pouring in early as presale looks to hit 40x in months</a></li>
</ul>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-noopener-noreferrer-nofollow-span-check-nuggetrush-nugx-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> <span>Check NuggetRush ($NUGX)</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="noopener noreferrer nofollow"> Buy NUGX Today </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a href="https://captainaltcoin.com/bitcoin-btc-price-faces-two-big-threats-to-short-term-ascent-following-key-us-government-approvals/" rel="noopener noreferrer nofollow">Bitcoin (BTC) Price Faces Two ‘Big Threats’ to Short-Term Ascent Following Key US Government Approvals</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Bitcoin (BTC) Price Faces Two ‘Big Threats’ to Short-Term Ascent Following Key US Government Approvals

Table of Contents

CaptainAltcoin

Other articles published on Feb 15, 2024

World Bank Labels XRP as Stablecoin; Claims Former Ripple Director

Shiba Inu (SHIB) Price Climbs: Is Bullish Momentum Building?

TRX Token Burn Triggers BitTorrent (BTT) Token Surge By 12%

Top Meme Coins Enter A Bull Run: DOGE, SHIB, and BONK Price Analysis

Are Dogecoin and Shiba Inu out of fashion? Investors shifting to this new meme narrative

Crypto Analyst Predicts 10-12x Rally for Bitcoin Price

Join our free newsletter for daily crypto updates!