The U.S. government transferred 3,940 bitcoins from Coinbase, which is expected to increase selling pressure.

US government transfers some of its BTC holdings to exchanges... KRW 335.4 billion
This week, the circumstances of the government's second BTC sale were revealed, following the Chinese government.
Joo Ki-young “Government sale of BTC has little impact…simple creation of FUD”

Bitcoin, which had been on the rebound, fell again after it became known that the U.S. government transferred approximately 3,940 Bitcoin (BTC) to Coinbase on the 26th.

On-chain analysis platform Arkham Intelligence reported on the 26th that some of the Bitcoin held by the U.S. government wallet was transferred to the Coinbase wallet. According to data released by Arkham Intelligence, U.S. government wallets hold a total of approximately $13.3 billion in Bitcoin. The value of Bitcoin transferred by the U.S. government to Coinbase Wallet on the 26th was approximately $241 million (approximately KRW 335.4 billion) at the time of transfer.

This week, the German government transferred a total of approximately $24 million in Bitcoin to the exchange through several transfers. Bitcoin continued to fall after it was revealed that the US government, following the German government, had transferred a large amount of Bitcoin to an exchange.

However, experts do not attach much significance to the US government's Bitcoin exchange transfer. On the 27th, CryptoQuant CEO Joo Ki-young posted on his did.

Bitcoin, which failed to rebound, is trading at 86.17 million won as of 9 am on the 27th on Upbit.

Reporter Seungwon Kwon ksw@