coin-img-ETHETH+0.00%coin-img-SOLSOL-0.63%coin-img-BTCBTC+0.20%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+0.50%coin-img-DOGEDOGE+1.39%coin-img-NEARNEAR+5.18%coin-img-SUISUI+2.81%coin-img-ETHETH+0.00%coin-img-SOLSOL-0.63%coin-img-BTCBTC+0.20%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+0.50%coin-img-DOGEDOGE+1.39%coin-img-NEARNEAR+5.18%coin-img-SUISUI+2.81%coin-img-ETHETH+0.00%coin-img-SOLSOL-0.63%coin-img-BTCBTC+0.20%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+0.50%coin-img-DOGEDOGE+1.39%coin-img-NEARNEAR+5.18%coin-img-SUISUI+2.81%coin-img-ETHETH+0.00%coin-img-SOLSOL-0.63%coin-img-BTCBTC+0.20%coin-img-USDCUSDC+0.01%coin-img-XRPXRP+0.50%coin-img-DOGEDOGE+1.39%coin-img-NEARNEAR+5.18%coin-img-SUISUI+2.81%

BSCN: Are US government Bitcoin transfers fueling the crypto selloff? $1.48B in $BTC moved to Coinbase Prime in 34 days

AI Market Summary
Large transfers from U.S. government-linked wallets to Coinbase Prime (~$1.48B BTC plus ~$62M wBTC) increase perceived near-term sell-side overhang and can pressure risk appetite across crypto. The timing alongside weak price action amplifies concerns that seized-asset distributions are hitting liquidity. Even without confirmed sales, exchange-directed flows typically worsen sentiment and can elevate volatility and correlation-driven drawdowns in majors and beta alts.
Impact level
● High
Affected assets
BTC/USDT+0.21%
AI Insight · BTC/USDTAI Insight
▼ Bearish
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Is the US government helping drive crypto's slump? On-chain data show US Government-linked wallets have transferred about $1.48B worth of $BTC to @Coinbase Prime over the past 34 days. An additional $62M worth of $wBTC was also sent to the exchange. The timing of the flows appears to closely track $BTC's weak performance and broader crypto losses this week. Data: Lookonchain.
Selected
BTC
BTC+0.20%
WBTC
WBTC+0.19%
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