Crypto:
30601
Bitcoin:
$58.537
% 1.11
BTC Dominance:
%53.3
% 0.09
Market Cap:
$2.13 T
% 0.20
Fear & Greed:
25 / 100
Bitcoin:
$ 58.537
BTC Dominance:
% 53.3
Market Cap:
$2.13 T

Germany’s Bitcoin Sell-Off Continues: Impact on Price?

Bitcoin Etf

The German government’s recent sale of 400 Bitcoin has once again raised questions about the potential impact of government actions on the cryptocurrency market.

According to data from Arkham Intelligence, the German government transferred the Bitcoin to Coinbase and Kraken, with a total value of approximately $24.34 million. This comes as Bitcoin prices have been on a downward trend in recent days, driven by factors such as increased selling pressure from Bitcoin miners, the German government’s BTC transfers, and the Mt.Gox Bitcoin refund announcement.

Despite the sale, the German government still holds a significant amount of Bitcoin, with Arkham Intelligence estimating that its holdings are currently worth around $2.84 billion.

The German government’s previous Bitcoin transfers to Coinbase and Kraken had little to no impact on BTC prices. As of this writing, Bitcoin is trading at $60,800.

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