Why is the drop so steep? The UK is looking to sell tens of thousands of seized BTC, similar to the recent sell-off by the German government, but on a larger scale—worth over $5 billion. After the sale, the UK can legally keep 90% of the proceeds, with the rest returned to victims of scam cases. This will create sustained selling pressure over a longer period, even heavier than the Mt. Gox sell-off—because it’s confirmed that everything will be dumped.

Scary