Bitcoin Drops Further Amid Concerns Over US Government’s BTC Transfer

Bitcoin continued its decline on August 15, driven by increased selling pressure following a significant BTC transfer by the U.S. government. Data from Cointelegraph Markets Pro and TradingView showed Bitcoin hitting multiday lows, dropping to $57,816. The sell-off was triggered by the U.S. government’s largest BTC transfer of the year, totaling 10,000 BTC (approximately $581 million), which was sent to the exchange Coinbase, according to crypto intelligence firm Arkham. This large transfer overshadowed any positive impact from U.S. macroeconomic developments, such as a cooling Consumer Price Index (CPI), which failed to provide a boost to Bitcoin’s price. The analytics platform