💵🚀🚀💵😱💵⚠️ DID GERMANY CRASH THE BITCOIN PRICE? ⚠️

🔻 Crypto Market Plunges:

Between June 20 and June 21, the total cryptocurrency market cap dropped by 3.9%, reaching a near five-week low at $2.34 trillion. Bitcoin (BTC) fell by 4.2%, Ether (ETH) by 4%, and BNB (BNB) also by 4.2%, contributing to a bearish market sentiment.

🔍 Germany's Bitcoin Sell-Off:

There are rumors that a large Bitcoin sale by the German government contributed to the market decline. Arkham reports that a wallet linked to the German government transferred 6,500 BTC (worth $425 million) to exchanges on June 19. These funds, seized from the pirated movie site Movie2k, were allegedly sent to Kraken, Bitstamp, and Coinbase, indicating a major sell-off.

💰 MicroStrategy's BTC Purchase:

On June 20, MicroStrategy announced the purchase of an additional 11,931 BTC for $786 million, potentially countering the German sell pressure. This acquisition should have offset the $292 million net outflow from U.S. spot Bitcoin ETFs over the two-day period.

📊 Macroeconomic Concerns:

The traditional finance sector might be the real issue. Negative macroeconomic data has shaken investor confidence, with the U.S. stock market approaching a "triple witching" event, where $5.5 trillion in derivatives are set to expire. Weak economic indicators from the U.S., France, Germany, and the UK have further spooked traders.

📉 Conclusion:

While Germany's Bitcoin sale might have influenced the market, broader global economic concerns seem to be the main drivers of the turmoil. Traders are now focusing on macroeconomic indicators and traditional market influences.