The cryptocurrency market has experienced a significant dip as the United States government allegedly sold 9,800 Bitcoin (BTC) worth $277 million, per certain reports. The US government seized the Bitcoin in question during the Silkroad case, as reported by Whale Wire on Twitter.

Bitcoin Investors Brace For Impact

The US government’s alleged sale of such a large amount of Bitcoin caused a ripple effect in the market, with prices dropping in minutes. This is not the first time there have been reports that the US government has sold BTC, but it could be one of the largest sales. 

Bitcoin’s recent rollercoaster ride has had investors holding on tight. After reaching the $28,000 level post-CPI report by the Federal Reserve (Fed), the news of the US government selling a whopping $277 million worth of Bitcoin caused a dip in the market.

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Author: Ronaldo Marquez

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