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<p>According to a recent post by on-chain analytics platform Arkham, the US government has transferred 19,800 Bitcoin (valued at $1.92 billion) to Coinbase Prime, a US-based exchange. This has once again sparked market speculation about whether the US government will sell off its Bitcoin holdings before Trump takes office.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/b4eae8cd827b4b1da2deb9bfca50ef3d.jpg" /><h2 id="header-0">Is the US Government Selling BTC Again? Not Necessarily</h2><p>Typically, depositing into exchanges indicates an intent to sell assets. Given that the US government holds over 200,000 BTC, it has always been under market scrutiny. However, this transfer might not be for selling purposes.</p><p>Firstly, the US Marshals Service, a division of the Department of Justice (DOJ), announced a partnership with Coinbase Prime in July to &#34;safeguard and transact&#34; digital assets. This transfer could be for asset custody purposes.</p><p>Secondly, if the US government truly intends to sell Bitcoin, there would usually be legal documents announcing the sale plan. According to court documents, the last confirmed sale of Silk Road assets by the US government was in March 2023, when 9,861 coins were sold for $216 million. (Authorities outlined a plan in the documents to sell the remaining assets in four installments that year.) Therefore, investors need not panic excessively at this point and can continue to observe the situation.</p><p></p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/efb33d29b4684f2ab45bc0c3523ba5a8.jpg" /><h2 id="header-1">Bitcoin Plunges Below $95,000</h2><p>Coincidentally, shortly after the US government&#39;s large Bitcoin transfer, Bitcoin plummeted to a low of $94,395 around 1:45 AM. As of press time, it has slightly recovered to $96,086, down 1.55% in the past 24 hours.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/975b446e053e4a11bd5b79fae5bb90c6.png" /><h2 id="header-2">Does Every US Government Transfer to Coinbase Lead to a Price Drop?</h2><p>According to on-chain analytics platform Lookonchain, the US government has transferred a total of 15,940 Bitcoin to Coinbase Prime in three separate instances this year. Statistics show that in the three days following the first two transfers, Bitcoin&#39;s price declined by approximately 5%.</p><p>l In April, 2,000 BTC was transferred.</p><p>l In mid-June, 3,940 BTC was transferred.</p><p>l In mid-August, 10,000 BTC was transferred (the price dropped that day but then fluctuated upwards).</p><p>Investors can continue to observe whether a similar pattern will emerge this time.</p><img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f4930742daf84664a527e1105054966c.jpg" /><p></p><p><strong>Disclaimer: None of the information contained here constitutes an offer (or solicitation of an offer) to buy or sell any currency, product or financial instrument, to make any investment, or to participate in any particular trading strategy.</strong></p>

[Bitop Review] Selling Again? US Government Transfers 19,800 Bitcoins to Coinbase, BTC Briefly Falls Below $95,000

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