The post Why Bitcoin (BTC) Price is Down Today? appeared first on Coinpedia Fintech News
The crypto market is abuzz with rumors that the United States government has executed a massive sale of 9,800 Bitcoin (BTC), amounting to approximately $227 million.
What’s the whole truth? We’ve uncovered all you need to know.
As a result of this substantial sale, the value of Bitcoin has experienced a drop, currently trading at $27,687.83. This represents a marginal gain of only 0.84%.
The news of the sale was initially revealed by the Twitter user, WhaleWire (@WhaleWire).
In a tweet, WhaleWire highlighted that “In 2014 and 2021, the US government seized and sold 9,800 BTC ($256M). At current pricing, this is over 0.05% of the supply and worth over $500M. How will the market react if they auction the remaining confiscated Bitcoin?”
The US Government just sold 9.8k of #Bitcoin worth $277 million, causing the prices to plunge.
They still own over 200K $BTC – if they decided to se
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