Bitcoin (BTC) reclaimed its position above $66,000 on April 3 despite concerns over Silk Road BTC sales. The BTC price saw a modest recovery after reaching lows of nearly $64,500. This came as the United States government sold over 30,000 BTC ($2.1 billion) that it had confiscated from Silk Road. However, market observers remained calm, emphasizing that the amount sold was insignificant. On the buy-side, inflows to U.S. spot Bitcoin exchange-traded funds (ETFs) totaled just over $40 million on April 2, surpassing the government sell-off. Traders are now hoping to see spot buyers maintain momentum for Bitcoin. They believe that corrections are normal in any market and that Bitcoin has already overcome significant long-term resistance hurdles. It’s important to note that this article does not provide investment advice, and readers should conduct their own research before making any decisions.
Bitcoin price bounces to $66.5K, while Silk Road sale goes unnoticed by BTC traders