As the Bitcoin price consolidates just below its all-time high of $99,540, a significant move by the US government has raised concerns among investors. The government has transferred a substantial amount of its seized Bitcoin holdings to Coinbase, potentially signaling intentions to sell. This echoes similar actions that had previously impacted the market earlier this year. US Government’s Bitcoin Transfer According to market intelligence firm Arkham, the US government moved approximately 10,000 Bitcoin, worth around $1.92 billion at current market prices, to two separate wallets. Related Reading: Dogecoin Boom Over? Crypto Analyst Warns Of Sudden Sell Signal One wallet contains Bitcoin valued at $969 million, while the other holds approximately $949 million. This strategic allocation has drawn attention, especially given the government’s history of selling seized Bitcoin, which can create notable selling pressure in the market. Data from crypto analytics firm Dune indicates that the US government currently holds a staggering 183,422 BTC, valued at over $17.6 billion. This accounts for roughly 0.93% of the total Bitcoin supply. Should the government decide to sell a portion of these holdings, it could exert ..
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