Base

According to Cointelegraph, Bitcoin prices have further declined due to increased selling pressure from the recent transfer of Bitcoin by the U.S. government. Axel Adler Jr., a contributor to the on-chain analysis platform CryptoQuant, stated that large market participants are leading the risk-off reaction to the latest transfers by "selling the news." He pointed out, "Whenever Arkham posts news about currency movements on Twitter, short-sellers immediately start dumping the market. The sale of 10,000 Bitcoins by the U.S. government won't have any impact, but the mere fact of the sale triggers such a reaction."