A recent transfer of 97 Bitcoin (BTC) and 884 Ethereum (ETH) by the U.S. government, totaling $10.23 million, has sparked fresh speculation in the cryptocurrency market.
According to crypto analytics platform Lookonchain, which cited data from Arkham Intelligence, the transaction occurred on March 28, 2025, and has reignited debates over the government’s crypto management strategy.
Details of the Government Transfer
The U.S. government transferred 97 BTC, valued at approximately $8.46 million, and 884 ETH, worth $1.77 million, at 5:51 PM EST on March 28. This move has raised questions about whether these assets are being liquidated or if they are part of a larger strategy under the latest executive orders related to digital assets.
Historical Impact of U.S. Government Transfers on Crypto Markets
Historically, large-scale transfers by government entities have had a notable impact on the market, often exerting downward pressure on cryptocurrency prices. For instance, in December 2024, the movement of $1.9 billion worth of Bitcoin to Coinbase Prime resulted in a 5% price drop over three days. Similar transactions in April, June, and August 2024 also contributed to short-term selloffs, although Bitcoin has consistently rebounded after such events.
Market Reaction and Sentiment
Following the March 28 transfer, Bitcoin’s market price hovered around $87,200, while Ethereum traded near $2,000. Despite the large transaction, market sentiment remained relatively neutral, with neither a significant price drop nor a rally immediately following the transfer.
Strategic Implications and Future Speculations
The timing of these transfers, combined with ongoing policy developments under the current administration, has led many to speculate about whether the U.S. government is planning a strategic accumulation or is simply liquidating assets in response to new regulations. As the government holds a sizable portion of the cryptocurrency market, its actions continue to influence market dynamics, making it a key player in the broader crypto landscape.
Editorial Team
Reporter at Coindoo
Source: https://coindoo.com/u-s-governments-10-23-million-bitcoin-and-ethereum-transfer-triggers-market-speculation/