US government just moved 10,000 bitcoins to an exchange, coinbase prime. While this might be worrying for others especially after the German government moving their own bitcoins, I advise everyone to remain calm. The 10,000 bitcoins taken in custody from the Silk road case were transferred to an exchange but not with the intention of selling them.
The government has made partnership with Coinbase and has entrusted them to hold seized bitcoins. So if anyone is saying that this is a sign of a market crash or a reason for it then don’t believe them and remain steadfast in your hodling.
If a whale had come across this kinda transaction without a clear explanation of the conditions behind the transaction, trust me, this would have triggered another panic sale just like that of Germany.
Irrespective of the News about the US Government being behind this transaction, some traders will still express FUD over the transaction as the said amount is capable of causing some impact on the market as no one knows the direction of the trend yet.