On January 10, the Financial Alliance reported (Editor: Shi Zhengcheng) that just as the elected president Trump, who supports Cryptos, is about to take office, $Bitcoin (BTC.CC)$ It also plunged near the 0.1 million USD mark, dropping for three consecutive days, with a low of 0.091 million USD at one point on Thursday.

According to reports from multiple media outlets, the source of the latest wave of market turmoil stemmed from a court ruling that circulated online: The US Department of Justice received approval from the Northern District Court of California to sell 69,370 Bitcoins seized from the illegal dark web market "Silk Road."

Based on a unit price of 0.094 million dollars, this potential sell-off is close to 6.5 billion dollars. It is currently unclear why this document, dated (last year) December 30, has resurfaced at this time, but it has evidently caused a short-term impact on market sentiment.

Meanwhile, due to the multiple steps involved in the judicial disposal of Bitcoin and the potential appeals window for this case, the US Department of Justice cannot immediately sell 0.06 million Bitcoins to the market based solely on this ruling.

A similar Bearish impact occurred last month when the USA government transferred 0.0198 million Bitcoin to the Coinbase Exchange. These Bitcoins were confiscated from James Zhong, who was charged with stealing over 0.05 million Bitcoin from the "Silk Road." This transfer news also caused panic in the Bitcoin market.

For this series of cases, the next point of interest will be Trump's actions after taking office—he has promised to pardon Ross Ulbricht, the founder of the "Silk Road" platform. He was sentenced to life in prison for money laundering, drug trafficking, and other charges, and has been in prison for 11 years with no possibility of parole.

Bullish Bitcoin investors are also paying attention to Trump's promise regarding the "Bitcoin National Reserve," as this at least means that the USA government will no longer sell confiscated Bitcoin. As of January 9, the USA government currently holds 0.198 million Bitcoin, all of which were seized from various cases.

Musk simultaneously brings both Bullish and Bearish news.

Musk has never hidden his admiration for China's WeChat and has stated that the X platform aims to become a "super app" of this kind.

At this week's CES, the CEO of the X platform, Linda Yaccarino, once again confirmed that a payment feature named "X Money" will be launched in 2025. She mentioned that the company has been working hard to obtain money transmission licenses in various states, aiming to seamlessly integrate financial services into Social Media.

There are also Technology insiders on Social Media claiming that from the platform's code, X seems to be ready to launch this feature before obtaining approval from all 50 states in the USA.

Considering this is Musk's platform, the market is speculating that "X payment" is likely to support Cryptos. $PayPal (PYPL.US)$ The optimistic bulls emphasize that the announcement to support Bitcoin in 2021 led to a wave of Bullish market trends that year.

However, Musk dampened the market's optimistic sentiment.

On Tuesday local time, while commenting on YC CEO Garry Tan's post, 'If Musk's "Government Efficiency Department" can reduce government spending, the price of Dogecoin will rise,' the world's richest person bluntly stated that if the issue of dollar inflation is resolved, other conditions remain unchanged, the dollar price for purchasing Cryptos would actually decrease.

Musk emphasized that what really matters is the 'ratio of dollars to Cryptos.'

Under the 'guidance' of the world's richest person, Bitcoin plunged from 0.102 million dollars to 0.096 million dollars on Tuesday.

The key still lies in dollar liquidity.

Bearish long-term cryptocurrency market investor Arthur Hayes interpreted that the prices of Bitcoin and other cryptos rise during periods of increased US dollar liquidity, while they fall when liquidity decreases.

Hayes specifically emphasized the issue of the US debt ceiling, stating that the Treasury's general account will be nearly depleted by the end of the first quarter, and liquidity issues will exacerbate as the April 15 tax payment deadline approaches.

In a higher-dimensional narrative, the Federal Reserve will maintain policy rates at a higher level than expected for a longer period due to the need to observe Trump policies.

Editor/rice