Bitcoin falls due to the Mt. Gox payment and the sale of the German Government
On Friday, the Mt.Gox bankruptcy trustee stated that it had begun paying creditors for recovered bitcoins and bitcoin cash. Assets worth $9 billion are expected to have been returned to creditors by the end of the year.
In addition to Mt.Gox, recent bitcoin transactions by Germany's Federal Criminal Police Office, Bundeskriminalamt (BKA), are also shaking the cryptoasset market. In January it was reported that the BKA had seized nearly 50,000 bitcoins from the operators of Movie2k.to, a movie piracy website that was shut down in 2013.
Arkham Intelligence on-chain data shows that since mid-June, the BKA address associated with the seized bitcoins has seen more than 25,000 bitcoins moved to other BKA addresses, as well as to crypto asset exchanges such as Coinbase, Kraken and Bitstamp. This suggests that the seized bitcoin could have already been sold, if not being sold soon.
