Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BNB 
BTC Bitcoin prices fell back to around US$84,000, and market selling pressure intensified.
Although Bitcoin, the leading cryptocurrency, has shown a sideways and volatile trend in the past few days, new market developments have increased selling pressure. The price of BTC has dropped to around $84,000.
At this time, wallet-linked activities with the U.S. government and tensions around the Strait of Hormuz (pushing oil prices above $100) put pressure on global risk appetite, which in turn intensified the selling of Bitcoin, causing the price to suddenly fall. The sharp decline triggered a liquidation of approximately $550 million in the cryptocurrency market within hours, with most of the losses coming from long positions.
U.S. government-linked wallets transfer US$101 million worth of cryptocurrency
A significant phenomenon was observed: a surge in cryptocurrency wallet activity linked to the U.S. presidential palace. According to data from online tracking platform Lookonchain, a total of approximately $103 million in Bitcoin (BTC) and Binance (BNB) were transferred from government-linked addresses.
During this period, the U.S. government completed more than US$70 million in Bitcoin transfers last night and made a BNB transfer this morning. Bitcoin accounts for the largest portion of transfers. An address associated with the United States sent 833.6 BTC, worth approximately $71 million, to Coinbase Prime. During the same process, approximately 40,285 BNBs worth approximately US$31.63 million were also transferred. Unlike Bitcoin, BNB transferred it to an unknown address after multiple transfers.
These wallets still hold approximately US$27.5 billion worth of cryptocurrency.
Is Bitcoin about to sell off?
While transfers to Coinbase Prime have raised questions about possible sell-offs, current data does not indicate that such a sell-off has occurred. In addition, the transfer alone does not prove that Bitcoin has been sold. In addition to providing custody and trading services, the platform also provides asset management services for institutional investors. Therefore, to determine whether an actual sell-off has occurred, it is necessary to continuously monitor the subsequent movements of relevant BTC.
What is the latest situation with Bitcoin?
As these dynamics increase selling pressure on Bitcoin, analysts are looking to the key level of $83,000.
Vikram Subburaj, CEO of cryptocurrency exchange Giotus, said in an interview with CoinDesk that it is crucial for Bitcoin to remain above $83,000. According to Subburaj, maintaining this level means that the current selling pressure is not enough to pull Bitcoin back into the US$76,000 to US$81,500 range. However, if Bitcoin falls below the US$82,000 to US$83,000 level for a long period of time, downside risks may increase. In this case, Subburaj pointed out that prices could fall to the $80,000 to $81,500 range.
Alex Kuptsikevich, chief market analyst at FxPro, believes that $84,000 is an important support level for Bitcoin. According to the analyst's analysis, a break below this level may increase selling pressure and pull prices down to around $80,000.
This article does not constitute investment advice.
