Why is Bitcoin (BTC) down? (July 13, 2023)

BTC is down 0.84% in the last 24 hours. With U.S. inflation figures coming in below expectations yesterday, Bitcoin (BTC) briefly held around $31,000 but fell below $31,000 in the following hours. According to Blockchain.com, a crypto wallet linked to the U.S. Department of Justice (DOJ) moved 9,825.25 BTC (approximately $299M) to unused addresses on July 12. This move may have put pressure on Bitcoin.