Anyway, the market seems to be trending down again, and I don't know if there was any updated news on the market. The only news I see from coinmarketcap.com is The U.S. Government: Silk Road DOJ Confiscated Funds (bc1qj) address transferred 29799.99011436 BTC, worth about $2.02 billion. The U.S. government currently holds 69,000 bitcoins that once belonged to Silk Road founder Ross Ulbricht and 50,676 bitcoins from Silk Road by Zhong.
I think it has something to do with the US campaign; Trump proclaimed himself as a Bitcoin supporter and has an intention of including Bitcoin as a strategic asset if he wins an election. That's when Bitcoin hit the $70k mark.
But the sudden announcement of Kamala Harris as a replacement for Biden, pulled the price down.
New Democratic nominee-apparent Kamala Harris' odds of winning the election have steadily risen throughout the week to the current 44%, according to Polymarket. Trump's victory chances have faded to 55% versus 70% just two weeks ago.
Bitcoin Plunges More Than 10% Since Hitting $70K 72 Hours Ago