Bitcoin Falls Below $83K as US Government Moves $332M in BTC to Coinbase Prime
- —Bitcoin hit a monthly low of $82,898 before rebounding to $83,388, down 2.38% in 24 hours
- —US government-linked wallets sent ~4,000 BTC worth $332M and $24.9M USDT to Coinbase Prime
- —The largest single transfer was 2,818 BTC valued at about $234 million
- —The US government still holds 319,061 BTC worth $26.56 billion
Why it matters: The government transfers to Coinbase Prime could add selling pressure, though they do not necessarily signal a sale.
Source: Crypto News Australia