The US government allowed this filtering A total of 69,370 Bitcoins were seized from the now-defunct Silk Road marketplace.

The claimants (Battle Born Investments, First 100 and 1st One Hundred Holdings) were trying to temporarily stay the enforcement of the judgment in this case.

They argued that this was necessary because another lawsuit was being pursued that was intended to force the US Department of Justice to force the US Department of Justice to reveal the identity of “Individual X,” the anonymous hacker who helped seize the bitcoins. Stolen from Silk Road to the US government.

The mysterious figure infiltrated Silk Road more than a decade ago, and was allegedly threatened by jailed founder Ross Ulbricht.

Battle Born Investments and other claimants wanted to reveal the identity of this number by relying on the Freedom of Information Act (FOIA).

However, the US District Court for the Northern District of California ended up ruling in favor of the government.

The ruling means the government can move forward with liquidating the confiscated Bitcoin wealth.

This potential selling pressure will likely make things much worse for Bitcoin bulls who are currently struggling to revive their momentum.

On Wednesday, Bitcoin fell to an intraday low of $92,938. The cryptocurrency is currently trading at $94,312 on the Bitstamp exchange.