The price of Bitcoin (BTC) returned to $61,000 on June 26, when details of the upcoming sale of BTC by the US government became known. 📉

News that coins from a wallet owned by US authorities were sent to the Coinbase exchange caused uncertainty in the behavior of the BTC price. The total amount was 3,940 BTC ($240 million).

According to trader Skew, the market reaction was relatively mild. “Some open short positions, expecting supply to hit the market, but mostly long positions are closed,” he commented on the current situation.

The US government's wallet still contains more than 213,500 BTC ($13 billion).

Germany made a similar move, transferring 6,500 BTC from its wallet last week. 900 BTC were sold on June 25th.

“Why are several governments selling their BTC? It’s starting to look like this is a coordinated action...” added crypto entrepreneur Vinny Lingham.

At the same time, the Bitcoin ETF broke a 7-day losing streak, attracting $31 million, which was the first day of inflows since June 12.