Heavy selling pressure on BTC as governments of the United States and Germany turn to Bitcoin signaling the beginning of a wave of dumping

According to the on-chain data tracked by Arkham, a wallet marked as related to the US government transferred 3,940 bitcoins (approximately $241 million) to Coinbase Prime last night. The US government still possesses 213,546 bitcoins, valued at approximately $13.1 billion, making it the government with the largest bitcoin holdings.