Bitcoin Slides 7% as U.S.-Linked Wallets Shed 17,468 BTC

Bitcoin (BTC) has fallen about 7% from a recent high as a tracked set of U.S. government-linked wallets declined by 17,468 BTC between Oct. 6 and Oct. 8.

The wallet movements totaled 569 BTC on Oct. 6, 4,632 BTC on Oct. 7 and 12,267 BTC on Oct. 8. The tracked balance stood near 174,481 BTC after the transfers, representing an estimated $1.44 billion at the transfer values.

Short-term holders also moved about 45,600 BTC to exchanges over a 24-hour period. Roughly 20,700 BTC was transferred at a profit and 24,900 BTC at a loss, while the reported realized price for those holders was approximately $74,600.

The tracked wallets do not represent a complete accounting of all Bitcoin held by the U.S. government. The movements and exchange flows coincide with the decline in Bitcoin, but the supplied data does not establish that they caused it.