Bitcoin price has dropped to $67,000 on renewed concerns about increased selling pressure

According to data from Bitstamp, the price of Bitcoin, the largest cryptocurrency by market capitalization, has dropped to $67,000.

This price drop occurred after the US government transferred about $2 billion worth of BTC, according to data provided by Arkham Intelligence. These coins were confiscated from Silk Road by the US government.

This morning, Bitcoin price approached $70,000. However, the bulls encountered another rejection. The US is the largest Bitcoin holder among the world's governments with a value of $13.9 billion in Bitcoin. The Chinese government ranked second with 13 billion USD.

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