Rumors suggesting the US authorities had secretly offered off a big portion of its Bitcoin reserves have been swiftly denied yesterday after new on-chain information emerged. Arkham Intelligence, a US-based blockchain analytics agency and public information platform, printed up to date figures confirming that the US Authorities nonetheless holds no less than 198,000 BTC, at present valued at roughly $23.5 billion.
These Bitcoin reserves are distributed throughout a number of addresses managed by varied authorities companies, together with the US Marshals Service (USMS), FBI, DOJ, DEA, and US Lawyer’s Places of work. Regardless of claims of a significant selloff, none of those holdings have moved within the final 4 months, indicating that the federal government continues to carry its Bitcoin stash intact.
The rumors, which circulated broadly on social media, have been largely triggered by a misinterpretation of a Freedom of Info Act (FOIA) response from the USMS, which cited holdings of simply 28,988 BTC. Nonetheless, that quantity represents solely a portion of the entire reserves, not everything.
Breakdown Of US Authorities Bitcoin Holdings
In accordance with information from Arkham Intelligence, a good portion of the US Authorities’s 198,000 BTC holdings—value roughly $23.5 billion—originates from two main historic seizures: the Bitfinex hack and the Silk Highway investigation.
The most important single supply is the 2022 seizure from Ilya Lichtenstein and Heather ‘Razzlekhan’ Morgan, who have been arrested six years after the 2016 Bitfinex hack. Authorities seized 94,000 BTC from the couple, with further recoveries bringing the entire to 114,599 BTC, now value $13.65 billion. These funds have been initially stolen from Bitfinex prospects and, pending authorized proceedings, could also be returned to victims by means of restitution.
One other main contributor is the seizure of 69,369 BTC (at present $8.26 billion) from ‘Particular person X’ in 2020. This individual was believed to have exploited a vulnerability to entry Silk Highway funds years after the darknet market was shut down. The US Authorities took possession of the BTC after ‘Particular person X’ voluntarily forfeited the property in a landmark case.
Arkham additionally recognized different sources of BTC held by US authorities, together with smaller seizures from felony operations and forfeitures ensuing from authorized settlements. These holdings are unfold throughout wallets linked to companies such because the US Marshals Service, FBI, and DOJ.
This transparency debunks latest rumors about authorities sell-offs and gives readability to the general public. Whereas the majority of the seized BTC stays dormant, market contributors are carefully awaiting indicators of motion, given the numerous potential market impression if liquidated. For now, nonetheless, all of those funds stay untouched, providing a buffer of reassurance as Bitcoin hovers close to its all-time highs.
Value Evaluation: Consolidation Persists Between Key Technical Ranges
Bitcoin continues to commerce inside a slim vary between $115,724 and $122,077, as proven within the 4-hour chart. This sideways motion follows the sturdy rally earlier in July that pushed BTC towards new all-time highs. Since then, the worth has failed to interrupt above the $122,077 resistance, whereas patrons have managed to defend the $115,724 help a number of occasions.
The chart additionally exhibits that BTC is hovering across the 50-period easy transferring common (SMA) at $118,412, barely above the 100-SMA ($116,614) and the 200-SMA ($111,678), which proceed to slope upward—a sign that the macro pattern stays bullish. Nonetheless, declining quantity throughout consolidation displays indecision available in the market.
A breakout above $122,077 might set off renewed momentum towards the subsequent psychological degree at $125,000. On the draw back, shedding the $115,724 help could result in a deeper retracement, with the 100-SMA and 200-SMA performing as dynamic help zones.
Featured picture from Dall-E, chart from TradingView
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