FX168 Finance News Agency (Asia-Pacific) reported on Thursday (January 9) that just before the news broke of the USA government approving the sale of 6.5 billion dollars worth of Bitcoin, a whale with a 0.234 billion dollar portfolio deposited 300 Wrapped Bitcoin (WBTC) into the Binance Exchange, worth about 28.5 million dollars. It is reported that this address successfully profited 9.98 million dollars. #Latest Bitcoin News#

This whale has been trading WBTC since March 2023, often buying low and selling high. Currently, this whale holds 195 WBTC on the Aave platform, worth about 18.4 million dollars, with an estimated total profit of 33.7 million dollars and a growth rate of 33.2%.

(Source: Twitter)

According to a post by the news aggregator DB News, the USA government has been authorized to liquidate 69,000 Bitcoins (valued at 6.5 billion dollars) seized from the Silk Road, with an official confirming this news to DB News.

(Source: Twitter)

Following the news, Bitcoin shorts launched an attack, with the price dropping as low as 93,299 dollars.

(Source: FX168)

With the sudden major Bearish news, legendary trader and BitMEX founder Arthur Hayes also stated that diamond hands are ready to buy at the bottom.

(Source: Twitter)

CryptoQuant CEO Ki Young Ju posted: "In 2024, based on realized Market Cap, $379 billion will enter the market, about $1 billion per day. The $6.5 billion Bitcoin sold by the USA government could be absorbed within a week."

He called on investors: "Do not panic."

(Source: Twitter)

Analysts at Blocktrends noted that as Bitcoin's price dramatically dropped after hitting a historical high of $100,000 by the end of 2024, a large number of Bitcoin holders have begun to accumulate again.

CoinTelegraph reported that according to Blocktrends research director Cauê Oliveira, approximately $3.2 billion in assets has been accumulated by Institutions, providing buying pressure for the current recovery of Bitcoin.

He stated that prior to this, wallets holding 1,000 to 10,000 Bitcoins sold off 79,000 Bitcoins within a week after December 21, whereas just a few days earlier, under the influence of the Federal Reserve's interest rate cuts, Bitcoin's price peaked above $108,000 on December 17, ultimately leading to a 15% correction.

He added, "Large participants took advantage of this consolidation," beginning to break down large trades into multiple small Orders to accumulate Bitcoin at prices below $95,000.

Bitcoin's trading price is around $94,900, declining about 2.3% that day alongside the broader Cryptos market, as USA employment and economic data dashed hopes for further interest rate cuts at the end of January.

An Analyst at Bitfinex stated in a market report on January 6 that the selling liquidity in the Bitcoin market is "rapidly shrinking," and the most severe downward pressure on its price may have already passed.

However, analysts predict that driven by Trump's anticipated pro-Cryptos policies and the national adoption of Bitcoin, it could experience record gains this year.

Fidelity Digital Assets Analyst Matt Hogan wrote in a paper on Tuesday that the company expects "more nation-states, central banks, sovereign wealth funds, and government treasuries to seek to establish strategic positions in Bitcoin."

Blockware Analysts stated at the end of last month that, in the worst-case scenario, the Bitcoin reserves in the USA could push its price above $150,000, while in the best-case scenario, Cryptos could rise above $400,000.