What happened: The US government just moved a massive 12,267 BTC (worth $1 billion) linked to the 2016 Bitfinex hack. This follows another $770 million transfer to Coinbase Prime earlier the same day. With over 328,000 BTC in its coffers, the US is one of the world's biggest "whales," and these huge movements always keep the market on its toes.
Why it matters: Usually, moving crypto to an exchange like Coinbase signals an intent to sell, which could put downward pressure on the price. However, there's a twist: President Trump’s 2025 executive order established a Strategic Bitcoin Reserve, which technically forbids selling these seized assets. The market is now watching closely to see if this is just administrative shuffling or a sign that the "no-sell" rule might be tested.
