đš Bitcoin Hits $70K Then Drops Below $67K After $2B BTC Transfer đš
Bitcoin surged to $70,000 following the Bitcoin 2024 conference but has since dropped below $67,000. This decline follows the U.S. government's transfer of 29,800 BTC, valued over $2 billion, which is suspected to be part of a custody deal with Coinbase (more details here: link).
Key Points:
Current U.S. Holdings: The U.S. government now holds 183,000 BTC.Potential Market Impact: If the U.S. sells the recently transferred 29,800 BTC, China, with an estimated 194,000 BTC, could become the largest BTC holder globally.
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