ChainCatcher news, on-chain analyst Ai Yi reviews last night's Bitcoin transfer event by the U.S. government, with the specific process as follows:
1. At 00:34, the U.S. government deposited 10,000 BTC into Coinbase.
2. At 00:47, this portion of BTC was credited to Coinbase hot wallet 3MqUP.
3. From 00:47 to 05:38, 10,000 BTC were distributed to 21 new addresses, with each address receiving 498.445 BTC. Currently, the tokens in these addresses have not been further transferred.
Comparing with the trading volume on TradingView for Coinbase during the corresponding time period, the average trading volume during the spike was only 300 BTC over 15 minutes, with similar trading volume during the rebound—meaning Coinbase did not have matching trades for the 10,000 BTC sell-off. Ai Yi speculates that the possibilities corresponding to this operation are as follows: not yet sold, planning to gradually offload from a wallet later; already taken by an institution via OTC, not flowing into the secondary market.
