Genesis Seeks Court Approval to Liquidate $1.6 Billion in Crypto Assets, Potentially Impacting Bitcoin Prices
• Genesis files request with US judge to sell $1.6 billion in crypto assets including Bitcoin, Ethereum, and Ethereum Classic • Assets are currently held in Grayscale's Trust products similar to moves by FTX • Sale planned to provide in-kind distributions to creditors due to Genesis bankruptcy • Potential major price impact on Bitcoin if large sell-off authorized • Technical analysts monitoring possible bullish inverse head and shoulders pattern formation versus selling pressure