German authorities sold 10,567 BTC today, worth approximately $600 million. This sell-off has contributed significantly to the 18% drop in Bitcoin's price over the past month. Mt. Gox and Genesis Trading's sales also affected this decline.

German authorities' Bitcoin wallets transferred 10,567 BTC worth over $600 million today to exchanges such as Bitstamp, Coinbase, Kraken and other service providers.

👀BREAKING NEWS: The#Bitcoinaccumulation of the State of Saxony, Germany is decreasing to zero! Just a few minutes ago they sent 2,000 $BTC to different exchanges like #Coinbase, #Bitstamp,#Krakenand #Flowtraders. This selling spree with only 4,925 BTC left in your wallet...

Despite Germany's sales, other organizations still need to sell their BTC. Mt., one of the largest Bitcoin exchanges that collapsed in 2014. Gox began paying its creditors after a ten-year period. This payment includes 140,000 BTC, 143,000 Bitcoin Cash and 69 billion Japanese yen, worth approximately $9 billion.

Genesis Trading has also been actively selling BTC for the last month. Genesis' liquidation of its assets increased the selling pressure in the market. These sell-offs have aggravated Bitcoin's recent price decline, which has already fallen 18% in the last month.