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So this is the reason for the decline of Bitcoin?

These days, the German Federal Criminal Police Office made a big move, directly transferring more than 6,500 Bitcoins, worth more than 400 million US dollars. The market is worried that if there is a sell-off, the market will be greatly affected, and the bulls may not be able to take up so many Bitcoin sell-offs at once.

Generally, if you see a long-dormant cold wallet suddenly transfer the coins to the exchange, it is likely to be sold. Germany has been selling Bitcoin these days.

It is said that Germany has seized more than 50,000 coins in the past few years. Although it has recently sold about 3,000 coins, it still has a lot of profits. This time, Germany's selling of Bitcoin will definitely cause a big market shock. First of all, market sentiment will be affected.

Selling a large amount of Bitcoin will cause panic and lead to follow-up selling. Large-scale selling will also cause a sudden increase in market supply. If there are not enough buyers to digest the sell orders, the price will fall.

The plunge will also affect the contract order. If the contract order is forced to close or the stop loss is triggered, the automatic sell order will further cause the price to fall. These work together to make the Bitcoin market turbulent in a short period of time.

At present, the bull market is surging, and we have the opportunity to share passwords every day.

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