Bitcoin Price Plummets As US Government Transfers $2B In Seized Silk Road BTC, Coincidence?
- US government transferred 30,175 BTC seized from Silk Road to a new wallet, sparking speculation about potential sell-off. - Previous seizure of 50,000 BTC from Silk Road marked largest crypto seizure in US history. - On-chain data expert clarified that main funds were transferred to inactive wallet, with 2,000 BTC sent to alleged Coinbase wallet. - Bitcoin price struggles to maintain position above $70,000, with 200EMA on 4-hour chart crucial for potential rebound or further losses. - Analyst highlights 200EMA's role as strong support since February, indicating potential for price rebound if it holds, but breaking it could lead to further losses. - BTC currently trading at $65,390, experiencing 5% decline in 24 hours and over 6% drop in seven days. Market uncertain about sustaining support level or potential bounce.
