K33: 17,733 BTC moved from US-linked wallets to Coinbase Prime, likely custody not sale
- —Tagged US government wallets fell from 324,527 to 306,795 BTC
- —Including unlabeled addresses, transfers could total 21,500 BTC
- —12,267 BTC of the moved coins are tied to the Bitfinex hack
- —Only about 1,200 BTC from FTX and HashFlare cases may be sold
Why it matters: Traders watch US government reserves for potential selling pressure; K33's read eases some of those fears by framing the transfers as custody-related.
Source: Koin Bülteni