Bitcoin is Escaped from Germany: The Latest Situation in the 3 Billion Dollar Story!

The German government has almost reached the end of its holdings with its latest Bitcoin (BTC) transfer.

Germany, which has stood out with the sales pressure it created specifically for Bitcoin in recent weeks, last traded on July 11. According to Arkham data, the government wallet transferred a total of 10,567 BTC to wallets belonging to Coinbase, Kraken, Bitstamp, Flow Traders and B2C2 Group on July 11.

After the last transfer yesterday, the German government was left with only 4,925 BTC worth $285 million.

The wallets in question sent 35,000 BTC to exchanges and market makers in the past 7 days.

The total value of the sales made by the government since the first day has approached 3 billion dollars.

As the burden of this selling pressure eased, investors' self-confidence in the market began to strengthen again. While the number of new wallets on the Bitcoin network increased to the highest level in the last 2 months, the price rose to 59 thousand dollars.

On the other hand, the ongoing Mt.Gox pressure brought to mind that the market may continue in a turbulent structure. Nevertheless, the interest rate cut signals, especially from the US Federal Reserve (FED), may serve as an igniting force for the upcoming period.

According to CoinGecko data, Bitcoin, which has increased by 1.3% in the last 24 hours, is traded at $ 57,144 at the time of writing.

Stay tuned for new information