CoinVoice has learned that on-chain analyst Ai Yi reviewed the event of the U.S. government transferring Bitcoin last night, the specific process is 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, these addresses have not transferred their tokens further.
Comparing with the trading volume during the corresponding time period on TradingView Coinbase, the average trading volume during the spike was only 300 BTC for 15 minutes, and the trading volume during the rebound was similar—indicating that Coinbase did not have matching trading volume to absorb the 10,000 BTC sell-off. Ai Yi speculates that the possible scenarios for this operation are as follows: it has not yet been sold and is planned to be gradually released through wallets later; it has already been acquired by an institution through OTC and has not flowed into the secondary market. [Original link]
