US government transfers nearly $1 billion in Bitfinex funds, Ethereum Foundation moves 4,000 ETH to exchange

As Bitcoin surpasses the $60,000 mark and attempts to challenge historical highs, market sentiment has reached its peak for the year. At this time, the U.S. government and the Ethereum Foundation have also been observed shifting their focus to cryptocurrencies. In the past, the Ethereum Foundation has cashed out at high points several times. Will they make accurate predictions this time?

Bitcoin hits 64K, Ethereum challenges 3500, with volatile movements making it difficult for both longs and shorts to escape liquidation

US Government Transfers Nearly $1 Billion in Bitfinex Funds

CoinDesk cited data from tracking platform Arkham Intelligence, indicating that Bitfinex's hacked funds, marked by Arkham, have been transferred by the US government to other addresses in the early hours of the 29th through four transactions.

The total transferred amount is close to $1 billion, and the purpose of the transfer remains unconfirmed.

The US government has not responded to CoinDesk's request for comments.

Previously reported, the actual amount of Bitcoin seized by the US government in the Bitfinex hacker case exceeded 90,000 coins.

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Ethereum Foundation Transfers ETH to Kraken

The Ethereum Foundation has also been monitored to have transferred 4,000 ETH worth approximately $13.3 million to the exchange Kraken after ETH exceeded $3,300.

The last time this wallet transferred ETH to Kraken was on January 6, 2022, when the price of ETH was also at the $3,300 level.

A wallet related to the #Ethereum Foundation deposited 4,000 $ETH($13.3M) to #Kraken after the $ETH price exceeded $3,300 today.

The last time this wallet deposited $ETH to #Kraken was on Jan 6, 2022, when the price of $ETH was ~$3,350.

This wallet received 39,006 $ETH($130.6M)… pic.twitter.com/WM3QQYX5Eu

— Lookonchain (@lookonchain) February 28, 2024

Ethereum Foundation as a Signal Indicator

The Ethereum Foundation's sales seem to be quite adept at executing when the market is overheated, which has always been seen by the crypto community as a short-term market top.

The Ethereum Foundation had also executed sales in May of last year, which now seems to have indeed marked a short-term peak.

Ethereum Foundation Transfers 15,000 ETH to Kraken - Is the Mini Bull Market and Meme Frenzy Coming to an End?