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Bitcoin’s price action stalled at $67,000 on October 21, as the U.S. Marshals Service began moving $2 billion in seized BTC. Meanwhile, Ethereum (ETH) rose 3% against Bitcoin.

Bitcoin’s price stalls at $67K as US Marshals move $2B in seized BTC

After a massive sell-off saw Bitcoin’s price plummet below the $60,000 mark earlier this month, the pioneer cryptocurrency registered a bullish resurgence in total defiance of the bears. At its current price of $66,500, Bitcoin is still down some 10% from its all-time high of $73,737 just five months ago.

However, Bitcoin is yet to breach the $70,000 resistance level despite several attempts. One of the events that caused BTC holders to be concerned about an impending bearish trend was the U.S. government’s move of $2 billion worth of seized BTC, which could see BTC’s price stagnate further.

Bitcoin price chart (1 hour). Source: TradingView

As the BTC sell-off began earlier this month, the U.S. Marshals Service announced plans to begin moving 70,000 BTC that were seized during the Silk Road investigation. The BTC will be moved into a digital wallet managed by the Marshals Service.

According to a report from CNBC, the BTC will be sold “periodically over the next few months to a year,” depending on the state of the crypto market. A portion of the proceeds from the BTC sales will be used to fund law enforcement initiatives.

RelatedCrypto prices today Oct 21: Bitcoin stalls at $67K; ETH up 3% vs BTC

Solana’s record high trading volume thanks to meme coin craze

Solana has emerged as a formidable player in the crypto world, now ranking among the top 5 cryptocurrencies by market cap. Solana is also leading the decentralized finance (DeFi) revolution, surpassing Ethereum with over $61 billion locked across its DeFi ecosystem.

In the last 24 hours, Solana’s trading volume reached $2 billion thanks to a wave of new memecoins launching on the network. Some of the new meme coins include dog-themed coins like Baby Floki Inu and Tamadoge.

Solana price chart (1 hour). Source: TradingView

Meme coins have played a key role in Solana’s growth this year, with several meme coins ranking among the top 20 cryptocurrencies by trading volume. As the hype around meme coins continues to grow, we can expect to see further upside for SOL.

Ethereum community celebrates 9th anniversary

After a massive rally of 3% against Bitcoin in the last 24 hours, ETH holders are laughing all the way to the bank. Not only is Ethereum’s community celebrating the ninth anniversary of Ethereum’s founding, but they are also enjoying the trading of Ethereum’s spot exchange-traded funds that were launched a week ago.

A month ago, Ethereum received the Securities and Exchange Commission’s approval after investigations closed. With the ongoing bullish sentiment around ETH, analysts are optimistic that a bullish resurgence for ETH past its all-time high of $4,878 last season is still in the cards.

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