$71.6M worth of U.S. government-linked $BTC just moved into Coinbase Prime addresses.
Naturally, the market immediately jumped to “sell.”
But the only thing we can confirm is that 833.6 BTC moved from government-linked wallets to two Coinbase Prime addresses.
Separately, $31.6M in seized $BNB also moved between unlabeled wallets.
I wouldn’t call either transaction confirmed selling pressure yet.
With current policy stating that forfeited BTC should remain in the Strategic Bitcoin Reserve, wallet movements alone don’t tell us the full story.
We can see where the assets went onchain. But how much can we really infer about the intent behind the move?
#BinanceLaunchesBinanceIntelligence #WinklevossFilesSpotZcashETFApplication
Naturally, the market immediately jumped to “sell.”
But the only thing we can confirm is that 833.6 BTC moved from government-linked wallets to two Coinbase Prime addresses.
Separately, $31.6M in seized $BNB also moved between unlabeled wallets.
I wouldn’t call either transaction confirmed selling pressure yet.
With current policy stating that forfeited BTC should remain in the Strategic Bitcoin Reserve, wallet movements alone don’t tell us the full story.
We can see where the assets went onchain. But how much can we really infer about the intent behind the move?
#BinanceLaunchesBinanceIntelligence #WinklevossFilesSpotZcashETFApplication