Bitcoin's Macro Uptrend Threatened by US Government's 41,500 BTC Stash.
Originally Published 2 years ago — by Wccftech
Bitcoin has officially entered a macro uptrend ahead of the halving event next year, breaking its macro downtrend and forming a bullish quarterly engulfing candle. However, the US government's scheduled liquidation of 41,500 Bitcoins from the Silk Road marketplace is expected to continue to act as a sentiment dampener. Despite the recent lawsuit against Binance, Bitcoin's price trajectory remains unaffected, suggesting that weak hands have already been eliminated. While a double-top pattern may signal short-term weakness, Bitcoin's macro uptrend is expected to remain intact.