Bitcoin,Dogecoinslide,Ethereumrises as U.S. government's $2 billion worth of King Crypto transfer spooks the market.
| Cryptocurrency | Gains +/- | Price (Recorded 9 p.m. EDT) |
| Bitcoin (CRYPTO: BTC) | -2.95% | $66,682.98 |
| Ethereum (CRYPTO: ETH) | +1.23% | $3,326.92.63. |
| Dogecoin (CRYPTO: DOGE) | -1.09% | $0.1296 |
What Happened: Bitcoin hit $70,000 early in the morning but began to retrace as a wallet linked to the U.S. Department of Justice moved out $2 billion in Bitcoins.
The news resulted in panic selling, bringing King Crypto below $67,000.
UPDATE: The U.S. Government has split the $2B Bitcoin into two addresses:
— Arkham (@ArkhamIntel) July 29, 2024
10,000 BTC ($669.35M): bc1qlap8hkt9genaljz5nt2zlehhudx63zlahr2zek
19,800 BTC ($1.33B): bc1qngydl7hmgdtmuqjmtsyj3pcwszv0yn5mj6kz4c
We believe this represents a 10,000 BTC deposit to an institutional... pic.twitter.com/RTwtaqvMmM
The transfer didn't affect Ethereum although the world's second-largest...
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