Confronting news:
$3 Million in Seized Silk Road BTC Consolidated; Market Volatility Looms
Quick Breakdown
. U.S.-controlled wallets linked to Silk Road-era Bitcoin transferred more than $3 million worth of BTC to a new address.
. On-chain analysts view the movement as a possible precursor to liquidation or further law enforcement action.
. The transfer has revived concerns about government BTC sales and short-term price pressure on the market.
Silk Road crypto activity resurfaces as dormant Bitcoin wallets move again
Silk Road wallets show renewed Bitcoin flows
Silk Road-tagged wallets transferred about $3.14 million worth of Bitcoin BTC $92,626, according to Arkham. The activity involved 176 transactions, making it the most significant movement from these addresses in five years.
Earlier this year, the same wallets carried out only three small test transactions, suggesting that substantial activity had been paused.
The transfers this week were sent to an unknown cryptocurrency wallet with the address prefix bc1qn.
The primary Silk Road-associated wallets still hold about $38.4 million in Bitcoin.
The newly created address holds only the transferred $3.14 million.
-But, FOMO New's JPM Is Bullish today...LOL ,,,,>>>
Morning Minute: JPMorgan Says No Crypto Winter
The macro forces at play will outweigh the recent sell-off drivers, according to the major bank.
Bitcoin has been sliding, sentiment has been deep in Fear mode, and Crypto Twitter has been panicking.
But one major bank isnt concerned.
JPMorgan analysts published new guidance pushing back against the idea that the latest drawdown marks a return to crypto winter.
In fact, the bank says this is just a meaningful correction, not the start of a new bear market
They pointed to several short-term drivers behind the recent sell-off:
.ETF outflows tied to basis-trade unwinds
.Liquidations hitting overly leveraged longs
.Seasonal illiquidity heading into year-end
.Soft macro ahead of todays Fed decision
.The bank stressed that none of these dynamics signal a structural breakdown in crypto demand.
The sell-off this past month triggered worries throughout crypto media and markets that the crypto ecosystem may be entering the next crypto winter. While we dont anticipate the end of the current bull cycle, we do acknowledge this November pullback as meaningful.
Overall, we struggle to see these recent market pullbacks as emblematic of broader structural degradation within the crypto ecosystem, and thus we continue to be positive on the space. - JPMorgan analysts
This time really is different. We think crypto winters are a thing of the past. - Geoffrey Kendrick, Standard Chartereds head of digital assets
Why It Matters
JPMorgans overall message is pretty simple: prices may have dropped, but the crypto bull thesis hasnt changed.
They remain laser-focused on the major forces playing out in the crypto sector - ETF inflows, tokenization initiatives, bank participation, stablecoin growth.
All of those big-picture fundamental indicators are still moving forward (and one could argue that theyre accelerating).
And more broadly, both JPMorgan and BlackRock are bullish stocks (especially AI) into 2026, with BlackRock going full risk-on mode.
So their macro view is bullish as well.
That means the only real crypto bear case remaining is four-year cycle seasonality.
Unfortunately, this latest drawdown lined up nearly perfectly with a 4-year cycle view and thus bears are in control. Until they arent.
If/when prices do grind back up to near ATHs, the bull case that JPMorgan (and many others) has laid out will be shining brighter than ever. And 4-year truthers will have a hard decision to make.
And with the Fed meeting on deck today, that catalyst to ignite the run back to ATH could be here sooner than later. Time will tell
Than...:
Current Bitcoin Setup is a Bull Trap, Expect Price to Drop Below $50,000
Bitcoins current price action between $85k and $95k is likely a bull trap after a record liquidation of longs, one analyst argues. The largest cryptocurrency by market capitalization has been experiencing one of its worst Q4s in history. Still, early December has shown some signs of price recovery, reclaiming the $90k level after revisiting the $81k support in November.
However, the analyst in question believes that the current price recovery below $100k support level is nothing but an eyewash; a bull trap designed for unwary long traders who think we are in for a strong showing at the start of 2026. Many of them have already tweeted regarding a strong Q1 2026 showing, arguing that the bull market and by extension the altseason have been delayed, not cancelled altogether.
But Leshka, with over 170,000 followers on X (formerly Twitter), is unfazed and believes traders are falling for a classic bull trap pattern that will eventually lead to major losses for the crypto market, trapping unsuspecting users on the wrong side of the trend for a long time.
They tweeted:
exact the same cycle as 2021
bull trap is loading
then $BTC fall to $40,000
LOLLL
Where is the FOMO?
