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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.

Crypto 'Fear-Greed Index' at 49...moving to neutral

Crypto data provider Alternative's self-estimated “Fear-Greed Index” rose four points from the previous day to 49. The improvement in sentiment moved the index from fear to neutral. The index indicates extreme fear in the market when it is close to zero, and extreme optimism when it is close

blockchain crypto cryptocurrency fear greed index 26 btc 55K (SpotedCrypto)

Crypto 'Fear-Greed Index' 26...Fear Continues , CME BTC Futures Gap $870

Crypto data provider Alternative's self-estimated “Fear-Greed Index” fell three points from the previous day to 26. The fear phase continues with a slight contraction in confidence. The index indicates extreme fear in the market, with readings closer to zero indicating extreme fear, and readings closer to 100 indicating

blockchain crypto cryptocurrency bitcoin reclaim 62K we wish (Spoted Crypto)

Bitcoin supports $60K, break of $62K will change the trend and close nearly $700M worth of shorts

Wall Street takes a breather ahead of Fed Chair Jerome Powell's speech at the Jackson Hole meeting. Bitcoin held the $60,000 level in the New York market on Dec. 22 (local time). Cointelegraph reported that the $60,000 support level held firm, supported by inflows into ETFs.

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