Recently, Bitcoin has been hovering around the 100,000 mark, and the greed index is close to its historical peak. As BTC and meme sectors adjust, funds are rotating to Ethereum ecosystem tokens and unpopular altcoins. However, some old altcoins, such as xrp, ada, xlm, eos, etc., have seen even greater increases, with XRP even returning to the top three in market value, with a total market value of up to $250 billion! #XRP市值重回第三 $XRP

The BTC ETF had a net inflow of about $350 million yesterday, and the ETH ETF had a net inflow of about $24 million. ETH is a bit funny. It was hard for a day, and then it came back. It feels like there is always one sector that stands out every day. Today it is GAMEFI, tomorrow it is MEME, and the day after tomorrow it is L2. It can be said that the big bull market is around us! #Layer1公链普涨

Is there a sudden movement of 10,000 BTC?

According to Spot On Chain monitoring, the U.S. government transferred 19,800 BTC (1.92 billion USD) 9 hours ago, of which 10,000 BTC (962.9 million USD) was sent to Coinbase.

As of 2024, the U.S. government has transferred a total of 25,999 BTC (2.49 billion USD) to Coinbase. However, these transfers appear to be custodial actions, rather than sales.

Coinbase CEO believes: The U.S. will never sell Bitcoin

Coinbase CEO Brian Armstrong stated: 'I believe the U.S. government should never sell Bitcoin.'

According to on-chain analysts, it has not actually flowed into the market.

According to on-chain analyst ai_9684xtpa, on-chain data shows that the 10,000 BTC recently transferred by the U.S. government did not actually flow into the market, or in other words, it did not directly crash the market.

The timeline is organized as follows:

At 00:34, the U.S. government deposited 10,000 BTC into Coinbase;

At 00:47, this portion of BTC was credited to Coinbase hot wallet 3MqUP;

From 00:47 to 05:38, 10,000 BTC was distributed to 21 new addresses, each receiving 498.445 BTC. Currently, these addresses' tokens have not been further transferred.

Comparing with the trading volume during the corresponding period on TradingView Coinbase, the trading volume during the spike was only an average of 300 BTC in 15 minutes, and the trading volume during the rebound was similar—meaning Coinbase did not have matching trading volume for the 10,000 BTC sell-off.

Therefore, it can be speculated that the possibilities corresponding to this operation are as follows:

1/ Not yet sold, planning to distribute in batches to wallets later;

2/ Already taken away by an institution through OTC, and did not flow into the secondary market.