The US government has moved around 4,000 BTC. What does this mean for the market?

The US government deposited around 4,000 BTC on Coinbase a day after receiving court permission to sell BTC the day before. Earlier, DeFi research group Definancialist revealed that the US Department of Justice may have sold 3940 BTC. The amount was seized from drug trafficker Banmeet Singh. The US government currently holds 213,546 BTC ($130.7 billion), according to LookOnChain.

In response, one analyst commented that while the US government did not sell 4,000 BTC today, it is unlikely to have an impact on the market. Coinbase Prime Spot ETF inflows are 20-49k BTC per day during peak periods and 6k-1.5k BTC during low periods. Most investors seem to be tired of the FUD (Fear, Uncertainty, and Doubt) caused by the US government not selling BTC.

On the other hand, an alleged address for the German government, the third-largest government holder of Bitcoin in the world according to Arkham data, transferred 345.338 BTC (worth $21.23 million) to cryptocurrency market maker Flow Traders 42 minutes ago.