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Why Is Bitcoin Falling? Is the New FUD Allegation True? Here are all the details!

Bitcoin price experienced a rather sudden drop. So, could the reason for this sudden drop be the new FUD claim?

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The price of Bitcoin, which managed to rise above $ 28,000 with the effect of inflation data, declined to $ 26,800 after the US government’s claim that Silk Road BTCs were moved.

Arkham Announces No Movement in Wallets, Even as Bitcoin Drops Allegedly by the U.S. Government

At the time this article was written, Bitcoin, which rose above $27,000 again, lost around 5% in minutes at its lowest point.

1-minute candlestick chart showing the drop in BTC price.

The claim was made by Arkham, who shared the same false announcement a few weeks from now. When a user who set an alarm on his Arkham account received a notification about it, he reported it on Twitter.

However, Arkham later stated that this news was unfounded.

Again, when I examine the on-chain data as, we can say that there is no movement in the wallets.

Silk Road Bitcoins are BTCs used for transactions on Silk Road, an online black market that was shut down by the US government in 2013. Silk Road was the first major use case for BTC as it was the only currency allowed on the platform to sell illegal drugs, weapons, fake IDs, and other illegal goods and services.

The US government had seized around 70,000 BTC from a wallet believed to be linked to Silk Road operator using the alias Dread Pirate Roberts (DPR). The DPR was later identified to be Ross Ulbricht, who was arrested and sentenced to life imprisonment on various Silk Road-related charges.

Over the years, the US government has been selling its confiscated bitcoins through auctions and transfers. The most recent sale took place in March 2023, when the government sold $216 million worth of BTCs that were part of the Silk Road stash.

*Not investment advice.

Buradaki Yorumlardan Bildirim Al

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