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Blockchain trackers flagged two massive government Bitcoin transfers within 48 hours, and traders are now watching every on-chain move for clues about whether billions in seized crypto could soon flood the market.
A government wallet holding Bitcoin seized from the Bitfinex hacker sent 12,267 BTC to a new, unlabeled address, according to Arkham data.
A US government-linked wallet transferred 12,267 BTC worth about $1.01 billion on October 8 from funds seized in the Bitfinex hacking case, according to Arkham.The transaction occurred at 9:33 a.m. Eastern time. Almost all the Bitcoin went to a new, unlabeled address, with 0.0012 BTC sent to anothe…