🇩🇪😱The Germany government does not stop: New BTC transfer
The last share of the Germany government, 1533 #BTC ($87.6 million), was transferred and stimulated the market.
A few hours after the #Germany government's first transaction, 8,100 BTC worth $463.2 million were moved. Later, another 5,200 BTC worth $297.3 million was sent to Kraken, Bitstamp, Coinbase and 139Po. It resulted in a massive single-day sell-off, with approximately 16,000 BTC transferred in total. Less than half of the first elimination from Movie2k, the scheme's current Bitcoin holdings stand at 23,787.7 BTC, valued at $1.35 billion.
German information from crypto data platform Arkham shows a distribution of around 3,000 BTC later in the day, mainly from Coinbase, Kraken and Bitstamp. The German owner's recent BTC sales have sparked controversy among industry members.
Ki Young Ju, founder and CEO of CryptoQuant, shared the situation. He stated that the Bitcoin market continues to be affected by “psychological operations”.
Famous crypto analyst Alex Krüger presented a detailed analysis of the sales. He stated that this was the final stage of the German sale and that eventually his holdings would be exhausted. Moreover, the rest of the market includes Mt. It has been suggested that it can be absorbed in one go, as in Gox formations. Another crypto analyst, Daan Crypto, stated that the weight of German accounts in the market would gradually decrease.
The Germans' sustained selling has stirred the market with skepticism since the selling spree began, which is reflected in Bitcoin's price performance. When transfers began on June 19, BTC was trading at $65,000. It is currently trading at $56,586, indicating a decline of approximately 13 percent.
