US Government Bitcoin Transfer to Coinbase Prime Triggers Short-Term Price Dip
Bitcoin prices dipped after the US government transferred $606,000 worth of Bitcoin to Coinbase Prime. The move was flagged by the blockchain tracking tool Arkham, which allows the public to track government wallets in real-time. Traders interpreted the transfer to an exchange—a service used by institutional players for storage and trading—as a signal that a government sale was imminent. This speculation led to a sell-off that pushed prices down before the asset bounced back.
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