Bitcoin Dips Beneath $70K After U.S. Authorities Strikes Seized Silk Street Bitcoin

• Bitcoin value crashed by greater than 4% up to now 24 hours. 
• The digital asset crashed after the US authorities moved 50K BTC to a brand new deal with.
• The brand new deal with transferred 19,800 BTC and 10,000 BTC, respectively to 2 different wallets.

Bitcoin (BTC) failed to carry its value across the $70,000 mark as promoting stress intensified within the crypto market. The first catalyst for BTC’s value drop was the U.S. authorities transferring $2 billion price of Bitcoin simply two days after Republican candidate Donald Trump pledged to build up the main digital asset.

In accordance with the info from CoinMarketCap, Bitcoin was buying and selling at $66,482 on the time of writing with a 4.33% decline up to now 24 hours. Additional, the buying and selling quantity of the cryptocurrency surged 88.88% and stood at $40.28 billion with a market cap of $1.31 trillion. The numerous rise in buying and selling quantity urged that sellers had been capitalizing on the current positive aspects. 

As per the info from Arkham Intelligence, the pockets flagged as “U.S. Authorities: Silk Street DOJ” moved 29,800 BTC price near $2 billion to an unknown deal with with no earlier transaction historical past. Whereas the intentions of the authorities rema…

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