Lookonchain: U.S. government transfers 17,733 BTC ($1.48B) and 750 WBTC ($62M) to Coinbase Prime in three days; BTC falls 6.9%

AI Market Summary

On-chain data indicate the U.S. government transferred ~17,733 BTC and 750 WBTC to Coinbase Prime over three days, coinciding with a ~6.9% BTC decline. Moves to a prime broker venue are commonly interpreted as potential preparation for sale, increasing perceived near-term supply and risk premia. The headline may weigh on BTC and broader crypto beta via liquidation fears and tighter spot liquidity.

Impact level

● High

Affected assets

BTC/USDT-0.56%

AI Insight · BTC/USDTAI Insight

▼ Bearish

Trade now

⚠️ AI-generated insights are based on news content and are provided for informational purposes only. They do not constitute investment advice or represent the views of BingX. Investing involves risk. Please trade responsibly.

Blockchain tracker Lookonchain reported that the U.S. government deposited 17,733 BTC, worth about $1.48 billion, and 750 WBTC, worth about $62 million, into Coinbase Prime over the past three days. Over the same period, Bitcoin's price declined 6.9%.

Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.

Risk Warning

Cryptocurrencies and their derivatives are innovative financial products with great volatility and high investment risks.

Although BingX is committed to providing users with easy-to-use trading tools, trading itself is still a highly sophisticated field. Trading digital assets and their derivatives are subject to high market risk and price volatility and may result in partial or total loss of account funds. You must carefully consider and exercise clear judgment to evaluate your financial situation and the aforementioned risks before using BingX Services. You shall be responsible for all losses arising therefrom. If necessary, please consult relevant professionals to make informed decisions before investing. By accessing, downloading, using or clicking on "I agree" to accept any BingX Services provided by BingX, you agree that you have read, understood and accepted all of the terms and conditions stipulated in BingX Terms of Use as well as our Privacy Policy.

Trading by copying or replicating the trades of other traders involves a high level of risks, even when copying or replicating the top-performing traders. Past performance of a BingX community member is not a reliable indicator of his future performance. Content on BingX's trading platform is generated by members of its community and does not contain advice or recommendations by or on behalf of BingX.