Germany sold 21,180 BTC in a few days
What I saw shocked me...
Here’s how government plans to trick you
🧵👇
⚹ Recently, the market has experienced a significant correction, with the German government being a substantial source of FUD.
⚹ They hold over $1B in $BTC and have gradually started transferring assets to CEX for sale.
This is quite a comical moment since the German government never invested in $BTC but obtained it through other means.
⚹ These 50,000 $BTC were confiscated from the Movie2k website, dedicated to film piracy.
⚹ The funds were confiscated in January 2024.
So far, more than half of their $BTC, over 25,000, has already been sold through several CEXs:
- Kraken
- Coinbase
- Bitstamp
⚹ It's likely they don't leave unsold funds overnight and send them back to their wallets.
⚹ This event should not be cited as an example of competent people.
⚹ The government's paper hands simply decided not to diversify their treasury, for which they received criticism from their own deputies
⚹ This is market pressure that won't change the global picture
⚹ Very often, the market's reaction to news is much more emotional than the news itself.
⚹ People's emotions don't change, and the $1B figure hits their heads, making them rush to sell, forgetting that $BTC's market cap is $1.14T.
⚹ Sooner or later, a rapid buyback would inevitably begin.
⚹ Although the pressure is quite amusing to experienced crypto enthusiasts, it has caused emotional swings for others.
⚹ This is a crucial moment in any cycle before global growth.
⚹ The market simply cannot start growing without shaking out weak hands from positions
⚹ Analyzing previous cycles, I can say that this could very well be manipulation by large players.
⚹ Before any global growth, there was a significant correction, knocking people out of the market.
⚹ The current market phase can be described as a Bear Trap.
