German authorities have accelerated the sale of Bitcoin in recent days, transferring 832.7 Bitcoins yesterday, with a total value of about $52 million. Among them, 282.7 Bitcoins (worth about $17.65 million) were transferred to Bitstamp, Coinbase and Kraken trading platforms. Currently, German authorities hold 43,859 Bitcoins, worth about $2.74 billion. In July, German authorities took a different approach to their Bitcoin portfolio. This is not the first time they have sent some Bitcoins to centralized trading platforms, but this transfer is seen as a complete sell-off. Bitcoin opened positively on Tuesday, but the news of the German authorities' sell-off quickly killed the rally. In the past two weeks, German authorities have sent about 3,000 Bitcoins to centralized exchanges (CEX). As of now, Germany holds a total of 43,859 Bitcoins, worth $2.74 billion.

These Bitcoins were confiscated from crypto criminal gangs, so the authorities did not have any legal obstacles when selling them. This move is similar to the actions of the US authorities. In the past week, the US authorities have transferred about $240 million in cryptocurrencies to the Coinbase exchange. Although the US side seems to be converging and regards the transfer as storage, the German sell-off may continue for a long time. If these sell-offs continue, it may further hit the market's confidence in Bitcoin. Although the inflow of funds from the latest spot Bitcoin ETF may hedge some of the impact, if retail investors continue to bear the pressure of such irregular sell-offs, it may be difficult for a healthy market to achieve sustained growth.

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