Crypto Daily – Fear is running through the crypto market as the $BTC price continues to fall. Large $BTC transfers from the U.S. government and Mt.Gox wallets are causing consternation. is on the brink once again at $58,000. Is another crash lower about to take place?
Large-scale selling about to happen?
According to Arkham Intel (NASDAQ:), 10,000 $BTC, originating from the notorious Silk Road operation, and belonging to the U.S. Government, were sent to a Coinbase (NASDAQ🙂 Prime deposit wallet on Wednesday. This could all potentially be sold, as it wasn’t sent to a Coinbase custody wallet.
On top of this, a further transfer of almost 34,000 $BTC was sent to a Bitgo exchange wallet on Tuesday, ready for distribution to Mt. Gox creditors. This is part of the 46,000 $BTC that is still awaiting distribution by the Mt. Gox trustees.
Although none of this aforementioned $BTC has been sold yet, the anticipation of it being sold is certainly affecting market sentiment…
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