U.S.-linked government wallets move 17,733 BTC and 750 WBTC to Coinbase Prime

AI Market Summary

Lookonchain reports U.S. government-linked wallets deposited 17,733 BTC and 750 WBTC into Coinbase Prime over three days, implying potential near-term distribution risk. With Arkham-labeled holdings still heavily concentrated in Bitcoin (~$25.3B of $25.4B), the flow heightens supply overhang concerns and can pressure spot liquidity and derivatives positioning as traders reassess the probability of additional transfers or sales.

Impact level

● High

Affected assets

BTC/USDT+0.58%

AI Insight · BTC/USDTAI Insight

▼ Bearish

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U.S. government-affiliated wallets have transferred 17,733 BTC—worth about $1.48 billion—and 750 WBTC, valued at roughly $62 million, into Coinbase Prime over the past three days, according to Lookonchain data dated Oct. 9. Arkham labeling data shows these wallets currently hold around $25.4 billion in crypto assets, with Bitcoin accounting for $25.3 billion.

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