Wallets linked to the U.S. government transferred over $100 million worth of cryptocurrency on Tuesday as Bitcoin drifted toward $84,000. Data from Arkham revealed that the transactions involved 833.599 BTC and approximately 40,285 BNB.
The Bitcoin holdings were valued at roughly $71.6 million during the transfer and ultimately landed in Coinbase Prime deposit addresses. Meanwhile, the BNB tokens—worth approximately $31.63 million—were routed through two unlabeled addresses.
By early Wednesday, Bitcoin retreated to about $84,200 after trading near $86,500 the day before. Despite this downward pressure, BTC continued to hold within its established trading corridor of $83,000 to $87,000.
U.S. Government Crypto Transfers Top USD 100 Million
Arkham identified Bitcoin transfers stemming from two separate government forfeiture actions. Specifically, a wallet linked to the Potapenko/Turogin seizure contributed 568.7 BTC, while funds recovered from the Bitfinex hack accounted for an additional 264.9 BTC.
Initially, authorities sent the 833.599 BTC to two unlabelled addresses. Within a few hours, both destinations redirected the entire amount to wallets recognized by Arkham as Coinbase Prime deposit locations.
In a separate transaction, a government-tagged wallet moved about 40,285 BNB originating from assets seized from Alameda Research. These tokens initially landed at the 0x7F68F63fB3A9CCCf352409603421E0A574FbAD90 address.
That wallet subsequently forwarded the full balance to a second unlabelled address, 0x6fB3Fe7b7E78AbB84CE007cBC7412C850B15A579. Available records do not indicate that the government proceeded to sell these digital assets.
According to the provided data, the U.S. government still maintains control over roughly $27.5 billion in cryptocurrency. Every asset in this portfolio stems from law enforcement seizures rather than open-market purchases funded by taxpayers.
Bitcoin Transfer Does Not Confirm a Government Sale
Large-scale movements by public authorities frequently spark speculation regarding potential market sell-offs. Nevertheless, a simple wallet transfer does not prove that officials have liquidated their Bitcoin or BNB holdings. Market observer Jose Rosell pointed out that moving funds is not the same as executing a sale, while also referencing a March 2025 executive order concerning forfeited Bitcoin designated for the Strategic Bitcoin Reserve.
This distinction is significant because the transferred BTC did route to Coinbase Prime deposit accounts. Even so, the transaction history alone provides no visibility into what occurred after the coins arrived.
Concurrently, Bitcoin experienced downward momentum during Wednesday’s trading sessions. The leading cryptocurrency shed more than 2% compared to Tuesday’s level around $86,500, changing hands near $84,300. This drop kept BTC confined to the same price band that has governed market activity since late September, spanning roughly $83,000 to $87,000.
Read More: Bitcoin Holds Near USD 85,600 as Treasury Yields Cap the Rally
Bitcoin Price Keeps USD 83,000 Support in Focus
Vikram Subburaj, CEO of Giottus, stated that Wednesday’s pullback did not undermine Bitcoin’s stair-step upward trajectory. This pattern emerged as Bitcoin progressed through a series of higher trading tiers. Between mid-July and August 18, the asset fluctuated roughly between $62,000 and $67,000 before surging approximately 21% in a span of three days.
A subsequent consolidation phase formed between $76,000 and $81,500 from late August through mid-September, followed by a 6.6% gain between September 19 and September 21.
Ever since that advance, BTC has mostly hovered between $83,000 and $87,000. Subburaj remarked that successfully defending the $83,000 threshold will keep sellers from dragging Bitcoin back into its prior trading range.
A sustained break beneath the $82,000–$83,000 zone would undermine the September breakout, potentially drawing attention back to the $80,000–$81,500 bracket. Meanwhile, FxPro chief market analyst Alex Kuptsikevich identified immediate support near $84,000, noting that a violation of that price point could clear the way for a drop toward $80,000.
At the time of the report, Bitcoin was changing hands close to $84,300. As a result, the market stayed comfortably above the broader structural support at $83,000 while testing the upper boundary of the support level highlighted by Kuptsikevich.
Final Thoughts
U.S. government wallets shifted roughly $103 million in Bitcoin and BNB, though the relocations offered no confirmation of actual sales. Meanwhile, Bitcoin traded close to $84,300, leaving the $83,000 mark as the critical threshold for sustaining its recent stair-step configuration.
