Bitcoin price falls sharply after U.S. government transaction

Typical crypto: Just yesterday Bitcoin was looking at its highest point ever, now the oldest cryptocurrency has collapsed overnight. The entire market is in the red.

After the price increase of the weekend, prices in the crypto market collapsed again. The entire market is down about three percent in the past 24 hours. Bitcoin reached nearly $70,000 just yesterday. At the time of writing, the oldest cryptocurrency stands at $66,600 and is losing almost five percent relative to the day before.

The reason could be a US government transaction. According to data from Coinbase the U.S. Marshals Service transferred Bitcoin worth billions of dollars to Coinbase Prime. Ethereum and the altcoin market are also falling due to Bitcoin's weakness. ETH falls 1.3 percent, BNB loses 3.5 percent. With a price loss of more than five percent, Solana bleeds the most of the top 10 cryptocurrencies.

The mood in the crypto market remains good, however, investors are still showing greed, according to the Fear & Greed Index.

How long the price correction will last remains to be seen. At least, after the U.S. interest rate decision tomorrow, BTC and Co. could rise again.