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Bitcoin was not subject to U.S. government selling this week, analysis shows, but BTC price action remains pressured. Bitcoin (BTC) struggled to recover from fresh losses on May 11 as a false alarm over United States government sales spooked markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysts deny U.S. government BTC sales Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,400 at the time of writing. The pair had seen a flash sell-off the day prior, briefly taking it to $26,850 after claims that confiscated BTC held by the U.S. government was being sold off. This was subsequently disproved, but for already sensitive crypto markets, the damage was done. Glassnode not showing any decline in the US Government's Bitcoin balance 4 pic.twitter.com/rJHcQ2B8Kc — Will Clemente (@WClementeIII) May 10, 2023 Among traders, Jackis described the local lows as a “scam” move, while forecasting lower levels to come. “When the move feel...

In a recent tweet, on-chain crypto detective ZachXBT said that the hackers have been moving $64 million in the last weekend. Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin (BTC) from hackers behind the Harmony bridge exploit.  In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After this was detected by Binance, they contacted and assisted Huobi to freeze and recover the digital assets deposited by the hackers. We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We assisted Huobi team to freeze his accounts. Together, 124 BTC have been recovered. CeFi helping to keep DeFi #SAFU! — CZ Binance (@cz_binance) January 16, 2023 According to Zhao, the exchanges recovered a total of 121 BTC, which is estimated to be worth around $2.5 million at the time of w...