Bitcoin: The Qian Zhiming case could trigger a $5 billion sell-off. Qian Zhiming (known as the 'God of Bitcoin') has been sentenced, involving 61,896.42 BTC. The number of victims reaches as high as 128,409. Selling pressure is expected to increase, as the market anticipates this massive asset liquidation. This could lead to a preemptive drop in buying prices and increased hedging. It’s almost certain to be bearish for BTC. This is very similar to the German government’s Bitcoin sell-off, but on a larger scale (49,858 BTC in the German case). (Important exception: UK law allows crypto assets to be liquidated in advance with court authorization, even before a final confiscation ruling.)