๐จ US GOVT MOVES $1B+ IN BITCOIN ๐
Uncle Sam just moved the market's least-wanted wallet. The U.S. government transferred 12,267 $BTC tied to the 2016 Bitfinex hack on Wednesday, worth more than $1 billion at current prices, according to Arkham Intelligence data.
About 9,000 BTC of that stash reportedly landed at Coinbase Prime, which is the part traders are watching. Coins sitting in a government wallet are neutral supply; coins arriving at an exchange look like preparations to sell.
BTC trades around $82,526, down about 0.4% on the day, while nearly $933 million in bullish bets got wiped out across crypto in 24 hours as price slipped under $81,000.
Big wallets moving coins to exchanges rarely ends quietly. Is this routine custody shuffling, or the start of another government sell-off?
Not financial advice. DYOR.
#crypto #bitcoin
Uncle Sam just moved the market's least-wanted wallet. The U.S. government transferred 12,267 $BTC tied to the 2016 Bitfinex hack on Wednesday, worth more than $1 billion at current prices, according to Arkham Intelligence data.
About 9,000 BTC of that stash reportedly landed at Coinbase Prime, which is the part traders are watching. Coins sitting in a government wallet are neutral supply; coins arriving at an exchange look like preparations to sell.
BTC trades around $82,526, down about 0.4% on the day, while nearly $933 million in bullish bets got wiped out across crypto in 24 hours as price slipped under $81,000.
Big wallets moving coins to exchanges rarely ends quietly. Is this routine custody shuffling, or the start of another government sell-off?
Not financial advice. DYOR.
#crypto #bitcoin