After Trump revealed his plans for crypto, Bitcoin touched the $70k price level yesterday, and then retreated to below $67k.

The US Government holds BTC confiscated from Silk Road, a platform that was involved in illegal activities. The coins are now being sold and the position is larger than the German Government was selling earlier this month. The German Landeskriminalamt also had confiscated BTC that was dumped on to the market.

One does need to consider that these Bitcoins basically belong to taxpayers.

Kamala Harris campaign seeks ‘reset’ with crypto companies

Vice-president’s team aims to improve relations after industry criticism of Biden administration. Read more here.

The selling pressure could last for a month or two. Unless something happens. This chart from the end of June is still the likely development.

In other news, the SEC retracted its statement concerning security status of altcoins.

The SEC has retracted its request for a court ruling to classify tokens such as Solana, Cardano, Polygon and others as securities.

Coin Telegraph