Is Bitcoin Affected by US Sales? CryptoQuant CEO Answered!

CryptoQuant CEO Ki Young Ju examined the possible effects of the USA's Bitcoin (BTC) sales.

In his post dated June 26, Ki Young Ju included 4 thousand Bitcoin transactions from the USA. The US government transferred 4 thousand BTC to the cryptocurrency exchange Coinbase on June 26.

The government managed to attract attention by making the sale in question just 1 day after receiving approval from the Supreme Court.

CEO Young Ju stated that a transfer of this amount would not affect Bitcoin and made a statement regarding its details.

I'm sick of these FUDs!

Reminding that Coinbase's spot Bitcoin ETFs use 20-49 thousand BTC as liquidity on high volume days and 6-15 thousand BTC on low volume days, the CEO expressed that he was tired of this whole "governments are selling" story:

The US government sold 4 thousand Bitcoins today, but it is less likely to impact the market. Coinbase Prime was managing 20-49k BTC daily with sell-side liquidity during high spot ETF inflows and 6-15k BTC daily during low spot ETF inflows. I'm sharing this because I'm tired of the "governments are selling" FUD.