A major event occurred last night, did the US government transfer Bitcoin suspected of selling?

Analysis: The 10,000 BTC transferred by the US government did not actually flow into the market

According to on-chain analyst @ai_9684xtpa, on-chain data shows that the 10,000 BTC recently transferred by the US government did not actually flow into the market, or in other words, did not directly crash the market.

The timeline is organized as follows:

At 00:34 AM, the US government deposited 10,000 BTC into Coinbase;

At 00:47 AM, this portion of BTC was credited to Coinbase hot wallet 3MqUP;

From 00:47 AM to 05:38 AM, the 10,000 BTC was distributed to 21 new addresses, with each address receiving 498.445 BTC, and currently these addresses' tokens have not been further transferred.

Comparing with TradingView's trading volume during the corresponding time period on Coinbase, the trading volume during the spike was only an average of 300 BTC over 15 minutes, and the trading volume during the rebound was the same — that is, Coinbase did not have any transactions that could match the selling volume of 10,000 BTC.

Therefore, we can speculate on the possible scenarios corresponding to this operation:

1/ Not yet sold, planning to distribute in batches from subsequent wallets;

2/ Already taken away by some institution through OTC and did not flow into the secondary market.

Every time a big market event comes, these messages appear, hold on to your coins, squeeze tight!

A big market event is about to arrive!