Republican

Donald Trump

Silk Road

<ul class="news-points">
 <li>Bitcoin price crashed by more than 4% in the past 24 hours.&nbsp;</li>
 <li>The digital asset crashed after the US government moved 50K BTC to a new address.</li>
 <li>The new address transferred 19,800 BTC and 10,000 BTC, respectively to two other wallets.</li>
</ul>
Bitcoin (BTC) failed to hold its price around the $70,000 mark as selling pressure intensified in the crypto market. The primary catalyst for BTC’s price drop was the U.S. government transferring $2 billion worth of Bitcoin just two days after Republican candidate Donald Trump pledged to accumulate the leading digital asset.
According to the <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">data</a> from CoinMarketCap, Bitcoin was trading at $66,482 at the time of writing with a 4.33% decline in the past 24 hours. Further, the trading volume of the cryptocurrency surged 88.88% and stood at $40.28 billion with a market cap of $1.31 trillion. The significant rise in trading volume suggested that sellers were capitalizing on the recent gains.&nbsp;
As per the <a href="https://platform.arkhamintelligence.com/explorer/tx/2e0b8f39af7d57989a9f911f211d88541473536b42ee4ebd4503cff525155bb0" target="_blank" rel="noopener noreferrer nofollow">data</a> from Arkham Intelligence, the wallet flagged as “U.S. Government: Silk Road DOJ” moved 29,800 BTC worth close to $2 billion to an unknown address with no previous transaction history. While the intentions of the authorities rema…
The post <a href="https://coinedition.com/bitcoin-dips-below-70k-after-u-s-government-moves-seized-silk-road-bitcoin/" rel="noopener noreferrer nofollow">Bitcoin Dips Below $70K After U.S. Government Moves Seized Silk Road Bitcoin</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Bitcoin Dips Below $70K After U.S. Government Moves Seized Silk Road Bitcoin

Coin Edition

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