Arkham posted at midnight today that the US government transferred 19,800 bitcoins to Coinbase Prime, sparking heated discussions about a possible sale. This article provides a detailed analysis for you. (Background: Buy again! MicroStrategy spent another $1.5 billion to increase its Bitcoin holdings, surpassing 400,000 BTC) (Context: Trump vowed that the US government 'will not sell' its bitcoins, but things are not as simple as he thinks) According to a post from Arkham, an on-chain data analysis platform, a few hours ago, the US government transferred 19,800 bitcoins (worth $1.92 billion) to the US exchange Coinbase Prime. This has once again raised market speculation about whether the US government intends to sell BTC before Trump takes office again. ALERT: US GOVERNMENT MOVING $1.92B BTC TO NEW ADDRESS Address: bc1q0av33ktzrkjps8exjex5gtv98vx225uqmzhspm pic.twitter.com/JSELsjFg5T — Arkham (@arkham) December 2, 2024 Is the US government going to sell BTC again? Not necessarily. Generally speaking, depositing into an exchange indicates an intention to sell assets. Since the US government holds over 200,000 BTC, it has always attracted market attention. However, this transfer may not necessarily be for selling bitcoins. First, because the US Department of Justice (DOJ) announced in July a partnership with Coinbase Prime to 'safeguard and trade' digital assets, this transfer may be for custody of the assets. On the other hand, if the US government really intends to sell BTC, there should also be legal documents publicizing the sale plan. According to court documents, the last confirmation of the US government selling Silk Road assets was in March 2023, when it sold 9,861 tokens for $216 million. (Authorities outlined a plan in the documents for four sales of remaining assets that year) Therefore, investors do not need to panic too much right now and can continue to observe patiently. Extended reading: Trump vowed that the US government 'will not sell' its bitcoins, but things are not as simple as he thinks. BTC once dipped below $95,000. Coincidentally, shortly after the US government transferred a large amount of BTC, Bitcoin fell to a low of about $94,388 at around 01:45 this morning. It rebounded slightly before the deadline, currently reporting $95,659, down 2.32% in the past 24 hours. Does the US government often see a drop after transferring BTC to Coinbase? Notably, according to monitoring statistics from Lookonchain, the US government transferred a total of 15,940 bitcoins to Coinbase Prime in three transactions this year. Statistics show that within three days after the first two transfers, the price of BTC dropped by about 5%. In April, 2,000 BTC were transferred; in mid-June, 3,940 BTC were transferred; and in mid-August, 10,000 BTC were transferred. Whether this time will see the same phenomenon remains to be observed... The #USGovernment transferred 15,940 $BTC($966.4M) to #CoinbasePrime in three transactions this year. Within three days of the first two transfers, the price of $BTC both dropped by ~5%. https://t.co/ugCqZSoS46https://t.co/agZkQtiKlIhttps://t.co/0RaZJ2fMs8 pic.twitter.com/EBdPjO7m9C — Lookonchain (@lookonchain) August 15, 2024 Related reports Rich Dad: Bitcoin, gold, and the stock market will face the largest crash in history, and a new bull market will emerge in 2025 Suddenly raising Bitcoin mining electricity fees by 14%, Paraguayan mining companies are fleeing! Officials warn it could stifle the industry. Glassnode: Greater volatility in Bitcoin is coming; is the market still in a bull market? "Going to sell again? The US government transferred 19,800 bitcoins to Coinbase, and BTC once dipped below $95,000" This article was first published on BlockTempo (BlockTempo - the most influential blockchain news media).

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