Governments divesting themselves of their BTC is a non-event, but Bitcoin bears make sure that the market feels the heat regardless, analysis says.
Bitcoin dropped further on Aug. 15 as a new United States government BTC transfer added to selling pressure.
Data from Cointelegraph Markets Pro and TradingView tracked multiday lows of $57,816 for Bitcoin (BTC).
The largest cryptocurrency reacted badly to the US government’s largest shipment of confiscated coins year-to-date, totaling 10,000 BTC ($581 million) and heading to exchange Coinbase, according to data from crypto intelligence firm Arkham.
