German Government Liquidates Bitcoin (BTC) Reserves, Crypto Market Turns Green

The German government has completed the divestment of its Bitcoin holdings, sending the last batch of 3,846.05 BTC, valued at $223.81 million, to Flow Traders and 139Po, reputed institutional deposit and OTC service platforms.

According to Arkham Intelligence data as of July 12, the government now holds no BTC, marking the culmination of weeks of intensified selling that has kept Bitcoin below the $60,000 mark.

The selling spree, involving around 50,000 BTC over three weeks, is thought to have influenced market dynamics, reflecting a strategy linked to Bitcoin's price challenges and its 200-day moving average.

Originating from a 2013 seizure from Movie2k.to operators, the liquidation aimed to deplete seized assets, including a recent $900 million single-day sale, impacting Bitcoin's market value adversely.

This approach contrasts with U.S. spot Bitcoin ETF inflows, which absorbed $801 million over four sessions.

Despite the sell-off's conclusion, ongoing factors like the $9 billion Mt. Gox repayment plan may continue to affect Bitcoin prices, although positive inflation data and the end of

Germany's sell-off offer a more stable outlook.

Prospects of Ethereum ETF launches may further stimulate the market, potentially aiding Bitcoin's recovery amid current market conditions.

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