Speculations arose regarding the US government selling a substantial amount of Bitcoin after a recent transfer. However, on-chain data from Arkham Intelligence clarified that the government did not sell the 30,000 BTC but split the $2 billion into two addresses. One address received 19,800 BTC, while the other got 10,000 BTC, possibly belonging to an institutional custodian. The transfer was not to a centralized exchange, indicating no intention to sell. Despite Bitcoin's price decline, it was not due to the government's actions but factors like Middle East tensions and Genesis's large transfers for creditor repayments. The US government's transparent approach to Bitcoin sales was evident, with no confirmed sales since March. The crypto community's speculation was debunked, highlighting the importance of on-chain data in understanding cryptocurrency movements. Read more AI-generated news on: https://app.chaingpt.org/news