Ethereum

📉 #Bitcoin dropped further on Aug. 15, hitting new lows around $57,800, as the US government moved 10,000 $BTC ($581M) to 
@Coinbase
.   

Despite the transfer being a non-event, the market reacted sharply, fueled by bears “selling the news.” This isn’t the first time; similar government transfers earlier this year triggered 5% drops within days.   

Analysts note that while these transfers don’t directly impact the market, they create a narrative that bearish traders exploit. 

Even with positive US inflation data, #Bitcoin remains under pressure due to this sell-off narrative.