THE U.S. GOVERNMENT JUST CRASHED THE MARKET!

Market Overview

The market is experiencing a significant amount of fear due to the government's approval to sell over 60,000 Bitcoin, which could potentially push the price down.

Government Sale of Bitcoin

• The DOJ has been cleared to sell $6.5 billion worth of Bitcoin seized from the Silk Road darknet marketplace.
• The sale of 69,370 Bitcoin could impact the market, but it's unclear if the government will actually sell.
• Similar sales by governments in the past have caused market fluctuations.

Market Concerns

• The news of the potential sale has caused fear and uncertainty in the market, with some predicting a drop in price to under $30,000.
• However, the market has absorbed similar news in the past, and the sale may not have a significant impact.

Trading Opportunities

• The current market situation presents an opportunity for trading, with a potential for a bounce back after a significant pullback.
• Going low leverage long may be a viable strategy, but it's essential to be prepared for potential losses.

Support Levels

• Key support levels to watch are $90,000 and $85,000, with further support potentially at $75,000.

Overall Outlook

• The long-term outlook remains positive, with the incoming Trump administration expected to be pro-cryptocurrency.
• The sale of Bitcoin by the government is not a significant concern for long-term investors, but it may cause short-term market fluctuations.