Bitcoin (BTC) stabilizes above $62,000 on Wednesday after a minor decline on Monday.
Bitcoin price today:$62,500 Bitcoin price stabilizes around $62,000; a firm close below would suggest a decline ahead. US Spot Bitcoin ETF data recorded an outflow of $58.20 million on Tuesday, while the Coinbase Bitcoin Coinbase Premium Index is falling. Lookonchain data shows the US government gained full control over Silk Road’s seized funds of 69,370 BTC, worth $4.33 billion. Bitcoin stabilizes above $62,000 on Wednesday after a minor decline on Monday.
If the US government decided to sell the newly acquired Bitcoin, as it did two months ago when it transferred 10,000 BTC, worth $593.5 million, to Coinbase Prime, this event could generate bearish sentiment among traders, potentially contributing to a decline in Bitcoin price. Currently, the US government holds 203,239 BTC worth $12.63 billion, including the newly acquired 69,370 BTC.
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