The exact direction of that movement is anyone’s guess, although the prevailing theory seems to be that very large players likely bid well above the current spot price in an attempt to gain a large holding of coins without significantly moving the market. SecondMarket CEO Barry Silbert hinted that his company’s buyers’ syndicate had received a huge amount of interest, with 186 bids placed for 48,013 BTC — half-again as many coins as are available. Such a high level of interest suggests that demand for the coins will be at least near market value.
The U.S. Marshals Service will notify winning bidders by 5 p.m. EST today, although the news of winning bids may well be released before that deadline. It’s not known if any participant will actually reveal their bid amounts. Suspicion is high, however, that losing bidders will move to snap up BTC as soon as the results are announced, as those parties at least know the amount of their own losing bids. Should that number be above current spot price, those parties have strong incentive to snap up closely priced BTC before news of the winning bid amount leaks onto the market.