But seriously, new FUD will inevitably arise and persist in the crypto market (just as in any market). Whether or not the Clarity Act gets passed or no, whether China bans \ unbans BTC, and so on. Any uncertainty will trigger this effect.
But in this case we are talking about a specific type of FUD, a Doomsday scenario based on a specific event. This specific FUD pops up every now and then, and it is possible that it has triggered some sales and price movements.
For example, every now and then we see threads like "Satoshi era wallet moved its coins!", or something similar popping up in the crypto media space. I do think some weak hands could sell when they see this kind of news. Often there is a very specific trigger for a sell order, linked to the specific fears of a person.
So this kind of strong, recurring FUD can't be compared with e.g. the Clarity act FUD (which is a minor occurrence, and only affects one country with 4% of the world's population).
Any increase in the volume of bitcoin in circulation will lead to a decrease in value.
This is too simplistic and can be refuted easily: each 10 minutes the supply in circulation grows by 3.125 BTC. In earlier times, it even increased by 50 BTC. Did the price fall every 10 minutes? No.
I doubt the price would have dropped by only 5–7%, as the crypto market would have reacted with panic, triggering a wave of position liquidations - driven both by the fear of further falling and by forced sales (due to leveraged trading).
The 5-7% would be my estimation not for the initial dip, which indeed may be deeper due to the reasons you mention, but after the dip and subsequent recovery. Let's say: 1 month after Satoshi's move, I expect the price in the same region or a little bit lower. If he really sells everything then it is another situation, then I'd say the 5-7% would be the price loss 1 month after his last sell order.
But as I already wrote, it is well possible that this can also be an opportunity to buy, because a strong source of FUD is finally gone. Kind of a "sell the rumours, buy the news" event.
Speculation on this topic has been going on for quite some time; it’s high time for Satoshi to take pity on the BTC-community and finally move (or sell) those coins [...]
I agree with this, I think this event -- at least if he "only" moves the coins (to a unused, quantum resistant address, e.g. P2WPKH), without selling them -- would be highly positive as I already explained in an earlier post. Simply put: it would show Satoshi cared about both his coins and his creation. Of course it is possible Satoshi isn't alive anymore, and then this would never happen.
