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In a recent development, a substantial transfer of 30,174 Bitcoin was recorded in block #837,413, originating from the US Government. These funds, previously held at address bc1qf2yvj48mzkj7uf8lc2a9sa7w983qe256l5c8fs, have been relocated to bc1qky5fngatjzn7eflh5aajrdlstkmst38d2au478. This transfer is associated with the assets seized during the Silk Road operation, representing the final portion of the 40,000 Bitcoin moved on April 3, 2023. On that day, 10,000 Bitcoin were deposited to Coinbase, while the remaining 30,000 were directed to the aforementioned address. Almost a year later, this batch has also been relocated. The destination address for this batch of Bitcoin is newly created and has no previous activity. As a result, it is unclear whether these funds have been redirected to another wallet under US Government control, sold off-market (OTC), or transferred to a custodian. The activities of bc1qky5fngatjzn7eflh5aajrdlstkmst38d2au478 will be closely monitored to determine the final disposition of these Bitcoin.

In a recent development, a substantial transfer of 30,174 Bitcoin was recorded in block #837,413, originating from the US Government. These funds, previously held at address bc1qf2yvj48mzkj7uf8lc2a9sa7w983qe256l5c8fs, have been relocated to bc1qky5fngatjzn7eflh5aajrdlstkmst38d2au478.

This transfer is associated with the assets seized during the Silk Road operation, representing the final portion of the 40,000 Bitcoin moved on April 3, 2023. On that day, 10,000 Bitcoin were deposited to Coinbase, while the remaining 30,000 were directed to the aforementioned address. Almost a year later, this batch has also been relocated.

The destination address for this batch of Bitcoin is newly created and has no previous activity. As a result, it is unclear whether these funds have been redirected to another wallet under US Government control, sold off-market (OTC), or transferred to a custodian. The activities of bc1qky5fngatjzn7eflh5aajrdlstkmst38d2au478 will be closely monitored to determine the final disposition of these Bitcoin.

Aviso legal: Se incluyen opiniones de terceros. Esto no representa asesoría financiera. Lee los TyC.
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Over the past two months, Bitcoin has been trading sideways, following its recent rally that pushed its price beyond the all-time high. Historically, Bitcoin's rapid expansions have corresponded with significant increases in the global money supply (M2), indicating periods of high liquidity and strong investor risk appetite. However, this dynamic is absent in the current cycle. Despite a slight rise in global liquidity over the past year benefiting Bitcoin, the year-over-year change in M2 has returned to neutral levels early this year. Currently, there are no immediate signs indicating a surge in demand that could significantly push prices higher. Selling pressure has decreased as Long-Term Holders (LTHs) have seen price stabilization around $60k, and Short-Term Holders (STHs) have reduced sales due to decreased profitability. Given this context, it is likely that the market will maintain its sideways trend until triggers emerge that can drive a decisive movement. The current market structure suggests there's potential for a more expressive rally within this cycle. The most probable scenario is that Bitcoin will stay within this trading range until a more favorable macroeconomic setting emerges, likely centered around the expected first U.S. interest rate cut in September. This environment could spark a new demand wave and a subsequent rally, marking the cycle's peak. The upcoming U.S. inflation data, expected this week, is pivotal and may shape market expectations about short-term monetary policy.
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