Post #706

The #Bitcoin price has been on the rise for the past 7 days and finally broke the $52K mark again after 2 years! However, there are two impending big threats to the short-term $BTC price. Can it overcome? 1. #Genesis got cleared to sell 35M Grayscale Bitcoin Trust shares ($GBTC), worth ~$1.3B, on Feb 15, 2024. - On a similar scale, #FTX once sold over $1B worth of $GBTC holdings, allegedly causing the price to drop from $49K to $39K in Jan. More details: link 2. The US Government filed notice to sell 2,875 $BTC (~$150.6M) seized from Silk Road on Jan 25, 2024. - Currently, they remain one of the largest $BTC holders with 208K $BTC (~$10.9B). - They last allegedly sold 8.2K $BTC ($248M) via #Coinbase during last Jul pump, allegedly causing the price to fall from $30.8K to $30.2K. Entity: https://platform.spotonchain.ai/en/entity/188 Don't forget to follow @spotonchain and turn on your 🔔 on our platform!