Recent major Bitcoin transfers by the U.S. government have raised concerns among investors that the BTC price might drop to $49,000. Coinbase Prime has received nearly $600 million in BTC, potentially impacting the market.
Significant BTC Transfers and Their Impact
According to recent updates from CNF, a substantial transfer of 10,000 BTC (approximately $600 million) has been moved to a Coinbase Prime wallet, as observed by Arkham Intelligence. Large volumes of BTC from known government wallets often raise market concerns.
Previous BTC Transfers
Earlier, a wallet linked to the U.S. Department of Justice transferred approximately $2 billion in confiscated Bitcoin to an unidentified wallet. This transfer is likely connected to the Silk Road dark web market. These transactions draw attention, especially in light of notable cryptocurrency seizure cases.
Concerns About BTC Price
Currently, Bitcoin (BTC) is priced at $58,460.56, with a decrease of 4.93% in the past day and 1.64% in the past week. Large-scale transfers impact the market, raising concerns about a further drop in price to $49,000.
The massive Bitcoin transfers by the U.S. government continue to cause market anxiety, and speculation about a potential drop to $49,000 is growing. These transactions merit close attention from market participants.
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