Bitcoin’s price experienced a notable decline, falling to around $110,000 following the US government’s transfer of 667 BTC to a new wallet on Tuesday. This unexpected move has sparked speculation in the crypto community regarding potential government policy implications and future market impact. While analysts attribute this shift to the establishment of strategic Bitcoin reserves, some speculate it may be linked to the ongoing US government shutdown. The transaction involved approximately $74.65 million worth of Bitcoin and was revealed through on-chain data by Arkham, a blockchain analytics firm. 652.62 BTC were sent to a different address controlled by the U.S. government, with the remaining amount moving to a wallet previously linked to the government’s holdings. Notably, this action comes amidst growing anticipation of Fed rate cuts and their potential influence on crypto markets. The price decline coincides with speculation about the US government’s approach to Bitcoin reserves and its global implications for crypto regulations.