As of March 8th 2023, there are still many BTCs waiting to be dumped onto the market because they are currently under the control of the US or Japanese governments or their trustees. Fun fact, all these coins are so called #Unconfiscatable" (LOL!)

Before its not clear what will happen with those coins, we think, the bear market is not over.

Ross Ulbricht: 69,730 #BTC 

MtGox: 141,686 $BTC

Bitfinex hacker: 119,754 BTC

Total: 331,170 BTC

update 3/8/23:

49,000 #Bitcoin from the silk road hacker got sent to coinbase March 8th 23 #BTC