Transfers to exchanges in the crypto world have had significant impacts over time. Sometimes whales execute these transfers, while other times, it is country governments. Recently, a new development has emerged from Germany. The US government made a significant move a few moments ago. BTC price was declining at the time of writing, which may have caused panic selling among investors.
US Makes BTC Move
The US government, which has previously drawn attention with its actions regarding seized BTC, has made another significant move.
According to recent news, the US government transferred approximately 4,000 BTC to the Coinbase exchange. There is no information on why this transfer occurred, and no explanation has been provided.
The US has often been associated with Silk Road BTCs, and such moves generally have significant impacts on BTC. After this transaction, the price started to fluctuate.
How Much is 1 Bitcoin?
At the time of writing, the BTC price dropped from $61,500 to $60,914, a 1.45% decrease.
Looking at the 7-day view, BTC’s decline rate is nearly 6%, indicating a slight recovery. Recently, BTC dropped to almost $58,000 for the first time in a long period.
In the last 30 days, BTC has seen an 11.2% decline. BTC’s market cap has approached the $1.2 trillion mark following the recent drop. The trading volume has decreased by 37.70% compared to yesterday, bringing it to $22.9 billion.
It is unknown how the US government’s move will affect BTC, and whether the price will drop back to the $58,500 level is also uncertain.
