Bitcoin in the USA: Is a Major Sale Imminent? – Market Reaction
Recent data from Arkham Intelligence reveals that the wallet address associated with the US Government has transferred 11.84 Bitcoins valued at $726,000 to an unknown address today.
A significant move has been made by the USA, with a recent transfer of a substantial amount of Bitcoin. According to Arkham Intelligence, the US Government’s wallet address has transferred 11.84 BTC valued at $726,000 to an unknown address labeled “3KHn….so9”.
Analysts speculate that this transfer could be a preliminary test before a larger transaction. The US government had previously transferred 4,000 Bitcoins worth $240 million to the Coinbase exchange, which were seized from Estonian cryptocurrency entrepreneurs Potapenko and Turogin. Data from Arkham suggests that the US government holds approximately over 213,000 BTC in its wallet.
Following this test transfer, the price of Bitcoin, which had been above $61,000, dropped below that mark. BTC is currently trading at $60,819.
*This is not investment advice.
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