Where will the second market exploration be?
Although the US government transferred 3,940 bitcoins (worth $240 million) to Coinbase after obtaining liquidation approval, Bitcoin will continue to hold the $60,000 support level, and provide the following two reasons:
The German government slowed down the pace of BTC selling
According to data, the German government-related wallets have transferred bitcoins to exchanges in multiple transactions in recent days, including:
Multiple asset transfers began on June 19, with a total of 1,110 bitcoins transferred to exchanges;
On June 25, the wallet transferred 200 bitcoins to Kraken and Coinbase exchanges, totaling 400 bitcoins;
On June 26, the wallet transferred 125 bitcoins to Kraken and Bitstamp exchanges, totaling 250 bitcoins
As the number of bitcoins transferred to exchanges by the German government decreases day by day, it may indicate that this large-scale selling plan will come to an end.
