According to a post from Arkham, an on-chain data analysis platform, several hours ago, the usa government has transferred 0.0198 million bitcoins (valued at 1.92 billion usd) to the usa exchange Coinbase Prime. This has once again sparked discussions in the market about whether the usa government is going to sell BTC again before Trump takes office.

Is the usa government going to sell BTC again? Maybe not necessarily.

Generally speaking, depositing to an exchange indicates an intention to sell assets. Since the usa government holds over 0.2 million BTC, it has always attracted market attention, but this transfer may not necessarily be to sell bitcoin.

First of all, the U.S. Marshals Service under the usa Department of Justice (DOJ) announced in July its partnership with Coinbase Prime to 'secure and trade' digital assets, and this transfer may be for asset custody.

On the other hand, if the usa government truly intends to sell BTC, there should also be legal documents publicizing the sale plan. According to court documents, the last time the usa government confirmed the sale of Silk Road assets was in March 2023, when 9,861 tokens were sold for 0.216 billion usd. (The authorities established a plan in the document to sell the remaining assets four times that year) Therefore, investors do not need to panic too much now and can continue to observe patiently.

BTC once fell below 0.095 million usd.

Coincidentally, shortly after the usa government transferred a large amount of BTC, bitcoin plunged to a low of 94,395 usd around 01:45 this morning. There was a slight rebound before the deadline, now reported at 96,086 usd, down 1.55% in the last 24 hours.

Does the usa government often see a decline each time it transfers BTC to Coinbase?

According to Lookonchain's monitoring statistics, the usa government has transferred a total of 15,940 bitcoins to Coinbase Prime in three installments this year. According to statistics, the price of BTC dropped by about 5% within three days after the first two transfers.

In April, 2,000 BTC were transferred.

In mid-June, 3,940 BTC were transferred.

In mid-August, 10,000 BTC were transferred (the price dropped on the same day and then fluctuated upward).

It remains to be seen whether the same phenomenon will occur this time; investors can continue to observe.

This article is written by the analyst team of the bitop market observation group, and the content is solely for the purpose of sharing personal opinions and does not constitute any investment advice. Analysis is time-sensitive, investment carries risks, and caution is required when entering the market!