Key Insights:
- Bitcoin news focused on 12,267 BTC leaving a U.S.-linked Bitfinex seizure wallet.
- About $383 million in Bitcoin and USDT reached Coinbase Prime during the preceding day.
- Bitcoin price traded near $81,800 as the $81,000–$82,000 region came under pressure.
Bitcoin news centered on another large government-linked transfer on Oct. 8 as BTC remained under selling pressure. An address Arkham identifies as holding U.S.-seized Bitfinex funds moved 12,267 BTC worth approximately $1.01 billion.
The transfer came after other government-linked wallets sent Bitcoin and USDT to Coinbase Prime. However, the latest blockchain activity does not confirm that federal authorities sold any of the transferred Bitcoin.
Bitcoin News: US Government Wallet Transfers
The latest transaction occurred at 13:33 UTC, according to the blockchain intelligence platform’s data. Arkham labeled the sending address as belonging to the U.S. government and holding funds seized from the Bitfinex hacker.
Before this transaction, government-affiliated addresses had already transferred more than 6,200 BTC to Coinbase Prime over two days. The figures placed that earlier Bitcoin total at 6,215 BTC, valued at approximately $516 million.
Alongside this Bitcoin news, the wallets sent 119 million USDT to Coinbase Prime during the same 48-hour period. Beyond those assets, the government-linked wallets also moved 40,285 BNB, worth approximately $31 million. Despite these movements, Arkham reported that the tracked wallets still held over $24.98 billion in Bitcoin.
Seized Funds Trace Back to HashFlare and Bitfinex
Within the earlier wallet activity, Arkham linked approximately 568.7 BTC to forfeited funds involving Sergei Potapenko and Ivan Turõgin. The two Estonian nationals operated HashFlare, a cryptocurrency-mining service that sold mining contracts.
However, HashFlare lacked the computing capacity needed to support those contracts. The forfeited designation means a court-approved government retention of assets connected to a crime.
Separately, Arkham traced another approximately 264.9 BTC from the earlier movements to funds associated with the Bitfinex hack.
The Bitfinex case dates to 2016, when hacker Ilya Lichtenstein stole 119,754 BTC from the cryptocurrency exchange. The stolen Bitcoin subsequently became the subject of the Justice Department’s reported request to return it.
In January 2025, the Justice Department argued that 94,643 BTC should return to Bitfinex. That request concerned Bitcoin originating from the exchange theft.
Following the earlier Bitfinex-linked transfer, government-associated addresses continued moving funds from that wallet throughout the day.
Bitcoin News Shows BTC Price Near Daily Support
Against this Bitcoin news, CoinGecko data showed BTC’s price was just $41.72 above its daily low of $81,315.66. Its 24-hour high stood at $83,615.97, leaving the quoted price near the bottom of the recorded range.
Across the intraday session, Bitcoin initially traded around $83,000–$83,500 before retreating toward $82,500. Subsequent rebounds failed to reclaim earlier highs, resulting in a downward BTC price pattern.
Later, a recovery toward $82,600 reversed sharply, sending Bitcoin below both $82,000 and $81,500. That final decline brought the chart endpoint close to the displayed daily minimum.
At that level, the daily low near $81,315 represented immediate chart support, followed by the visible $81,000 mark. A decline below the recorded low would take BTC price outside the existing 24-hour range.
This article is for informational purposes only and does not constitute financial or investment advice. Blockchain transfers do not confirm asset sales, while Bitcoin prices and technical levels may change as market conditions evolve.
