The US government's recent Bitcoin transactions have raised concerns about a potential selloff, leading to market volatility. On June 28, the government transferred 11.84 BTC, worth approximately $726,000, to a new address. Although this transaction seems minor, it has sparked speculation about a larger transfer to come.

This move follows a previous transaction on June 2, where the government transferred 2,000 BTC to exchanges, causing fear and uncertainty in the market. The recent activity has drawn parallels with the German government's actions, which has been actively selling its Bitcoin holdings. On June 26, the German authorities transferred 595 BTC to major cryptocurrency exchanges, continuing their selloff trend.

The US government's actions have raised concerns among market participants, with some analysts attributing the recent market volatility to government sales. However, CryptoQuant CEO Ki Young Ju has downplayed these fears, stating that the recent 4,000 BTC sale is unlikely to impact the market significantly. Ju emphasized that Coinbase Prime, the exchange handling the transaction, has the capacity to manage substantial liquidity.

Despite these assurances, market participants remain cautious, with some speculating about a potential selloff by dormant whales and Bitcoin miners. A recent transaction involving a dormant Bitcoin whale transferring $61.5 million worth of BTC to Binance has added to the market's anxieties. As the market continues to experience volatility, all eyes are on the US government's next move and its potential impact on the cryptocurrency market.

In conclusion, the US government's recent Bitcoin transactions have sparked fears of a potential selloff, leading to market volatility. While some analysts have downplayed these concerns, market participants remain cautious, awaiting the government's next move. As the situation unfolds, one thing is certain - the cryptocurrency market will continue to experience ups and downs, and market participants must remain vigilant to navigate these uncertain times.