The bitcoin price dramatically crashed after a strong rally earlier today saw the foremost cryptocurrency once again reach $30,000. It is now trading below $28,000 after retracing all of its gains in a single hourly candle.
While the exact driver of the dramatic declines is currently unconfirmed, prominent crypto news alerter “db” claims that Mt. Gox and U.S. government wallets are making transactions, citing market intelligence platform Arkham — which retweeted and responded. Arkham later deleted their response, which was a saluting emoji.
However, some believe the Arkham alert was a mistake.
A bitcoin address identified as the U.S. government’s storage point for Silk Road hack funds holds some $1.9 billion worth of BTC as of press time. A transaction did occur earlier Wednesday, but it was an inbound one worth approximately $0.19. The transaction is pending confirmation as of press time.
The Block reached out to Arkham for confirmation and further comment.
This is a developing story and will be updated.
The price of bitcoin crashed suddenly today. Source: TradingView
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Source: https://www.theblock.co/post/228517/bitcoin-price-crash-us-government?utm_source=rss&utm_medium=rss