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4 Key Dates to Watch for Potential Bitcoin Selling Pressure

Mon, 04/17/2023 - 08:40
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Alex Dovbnya
As Bitcoin's recent surge past $30,000 stirs up talks of potential crypto resurgence, investors are urged to keep close watch on four critical dates throughout 2023
4 Key Dates to Watch for Potential Bitcoin Selling Pressure
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As Bitcoin recently surged past the $30,000 mark, reigniting discussion of a potential new crypto boom, investors should closely monitor four key dates throughout the year, which could exert additional selling pressure on the digital currency.

CryptoQuant, a leading cryptocurrency analytics firm, has identified these dates — May 26, Aug. 7, Oct. 19 and Dec. 30, 2023 — as critical time frames in which the U.S. government might sell its Bitcoin holdings, including those seized from the Silk Road dark web case.

In a recent court filing, the U.S. government confirmed the sale of 9,800 BTC on March 14 for a total of $215.7 million, originating from the historic seizure connected to the Silk Road case.

The government aims to offload approximately 41,500 more BTC tied to the case in four batches throughout the year.

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CryptoQuant's analysis suggests that the 73-day interval between the first batch sale and the next crucial date indicates a possible pattern in the government's sell-off strategy.

It remains to be seen whether this pattern will persist or is merely a coincidence. By keeping a watchful eye on the key dates mentioned above, investors might be able to better sail through the turbulent waters of the cryptocurrency market.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at