Coin-Turk 1 day ago
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The U.S. Department of Justice is preparing to sell 69,000 Bitcoin (BTC ($94,541.34)) 
$94,744, with an anticipated value exceeding $6 billion. This significant sale may have a profound effect on the cryptocurrency market. However, past sales of similar magnitude have produced varying impacts on Bitcoin’s price. Experts are currently analyzing various market data to comprehend the potential effects of this sale. Glassnode is examining different datasets to evaluate the implications of this massive sale by the U.S. government on the market.
Comparison with Germany’s 2024 Bitcoin Sale
In July 2024, the German government sold 56,000 BTC, but this did not lead to a market collapse. Instead, the price of the largest cryptocurrency surged from $53,000 to $68,000. This indicates that large-scale sales do not always negatively affect the market.
However, history shows that not all sales result in …
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