The leading cryptocurrency Bitcoin (BTC) has been in a downtrend for a while. However, while many investors focused on the inflation data announced during the day, although the Bitcoin (BTC) price experienced a slight increase, the sudden sharp decline brought questions to many investors’ minds! So, what is the reason for the sudden drop in Bitcoin? Here are the details…
The sudden drop in the price of Bitcoin (BTC) to $ 1,500 worries investors! So what’s the reason?
As we reported as Kriptokoin.com, the US inflation data has been eagerly awaited by investors for a while. After the US inflation data announced during the day, BTC showed an upward movement and rose to the levels of $ 28,300. However, while investors were waiting for BTC to break its silence and rise, the sharp decline from $ 28,200 pulled the BTC price back to $ 26,500.
As the Bitcoin (BTC) price, which was active as of 20:07 CET, declined to $ 26,800 levels, many investors questioned the reason behind it. Arkham Intelligence, which caused a decrease in Bitcoin by reporting that movement was observed in Mt.Gox and US government wallets before, is the suspect behind the subject. For this reason, Arkham Intelligence, in its statements on Telegram, sent a notification that 9,800 BTC in the wallet where the US government keeps the Bitcoins obtained from Silk Road moved. The notification transmitted via Telegram is as follows:
On the subject, The Block research analyst @1kbeetlejuice Twitter account stated that the $ 276 million 9,800 BTC outflow of 276 million dollars came from the wallets under the control of the USA. Some experts think that these statements made by “Bettle” create a FUD in Bitcoin price. This may have caused a decline.
But on the other hand, Arkham Intelligence, which made statements, said, “I don’t see anything on our side,” in response to Beetle’s posts on Twitter. Following the tweet, The Block research analyst @1kbeetlejuice removed his tweets and changed his account to a ‘secret account’.
Don't see anything on our end
— Arkham (@ArkhamIntel) May 10, 2023
An explanation for the BTC drop came from the expert!
With this recent drop in the cryptocurrency market, many investors seem extremely worried. In his statements on the subject, blockchain researcher ZachXBT stated that the allegations made completely fluctuate the market and that there is no new movement, and that the news is false.
Fake news https://t.co/yyXG7kvhO7
— ZachXBT (@zachxbt) May 10, 2023
Instantly, the leading cryptocurrency Bitcoin (BTC) is trading at $ 27,473.36.
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