Germany is putting significant pressure on the cryptocurrency market by selling its Bitcoin (BTC) assets. According to Arkham Intelligence data, Germany still has 29,286 BTC, worth approximately $2.161 billion. This potential selling pressure represents 9% of Bitcoin's 24-hour trading volume and could have a serious impact on the market.
Germany began liquidating Bitcoin holdings in mid-June. These assets were sourced from the operators of the privacy website Movie2k.to, which closed in 2013. Of the 49,857 BTC seized during the operation, 10,000 BTC were sold in the past month, and these sales caused sharp declines in the price of Bitcoin. Over the last four weeks, Bitcoin's spot price has fallen 20% to $55,490, with a 13% drop in the last seven days alone.
With the cryptocurrency market shaken by these sales, Tron's founder Justin Sun offered to buy the BTCs held by the German government outside the exchanges, which was an attempt to reduce the negative effects on the market.
Sell-Offs Seen as a Strategic Mistake
Some observers consider Germany's Bitcoin sales a strategic mistake. According to a July 5 newsletter from Blockware Intelligence, “The German government has transferred more than $390 million of Bitcoin to exchanges in recent weeks to convert it into fiat money. “From a geopolitical perspective, it is a strategic mistake for a nation state to sell Bitcoin assets for fiat money because while fiat currencies can be produced simply, Bitcoin is much more difficult to obtain due to its limited supply and the physical energy required to mine it.”
According to data from CoinMarketCap, Bitcoin is trading at $55,749, decreasing by 2.57% in the last 24 hours. Latest on-chain data shows that the German government transferred a total of 1,000 BTC to exchanges such as Coinbase and Bitstamp, indicating that selling pressure may continue.
PLEASE READ CAREFULLY FOR A GIFT OF 10 DOLLARS.
My friends, you know that we, the publishers, are doing everything we can for you here. We are informing you about the services and facilities offered to us by our authorities. I have never stopped supporting both the Cryptocurrency market and you as much as I could, and on the contrary, I am trying to provide more support.
THIS 10 DOLLAR GIFT CAMPAIGN IS A CAMPAIGN MADE SPECIALLY FOR ME BY BINACE. YOU CAN GET CONFIRMATION ABOUT THIS BY CONTACTING LIVE HELP. THIS IS A 10 DOLLAR CAMPAIGN MADE TO YOU THROUGH ME.
Now I will tell you how to receive your gift. First of all, Binance users who have registered with someone's reference and actively use futures transactions will unfortunately not be able to benefit from this promotion.
So who will benefit?
Our friends who have not activated the futures section yet, while activating your FUTURES trading section, you will earn 10 dollars when you open it by entering my reference code 88623008.
I EXPLAIN IN DETAIL.
My brothers and sisters who have become a Binance member without reference, please listen carefully;
When you do what I say, you will receive 10 USDT.
Enter the Futures Section from your application,
On the next screen, open your account by entering the code 88623008 in the REFERENCE CODE section,
My brothers and sisters who want to complete this transaction and receive the 10 USDT reward by MAY 1 can do so. After activating your account, all you have to do is open your first futures transaction.
The first 1,000 brothers to open a 200 USDT transaction by MAY 1 will receive a 10 USDT reward.
So let me give you a tactic like this: Even if you open and close 20x with a $5 transaction, you will be entitled to the reward.
However, even if you do this after May 1, your reward will not come. So get it done by May 1st. In fact, right now I say you can fix it in 5 seconds.
Very simple. Go to Futures, enter my reference code 88623008 and activate the account. Afterwards, just open a total of 200 USDT transactions and get 10 USDT reward.
WHEN WILL THE AWARD COME?
Your 10 dollar reward will arrive in the REWARDS section of your Binance application within 30 days, starting from May 1st. By activating it from there, you can use your reward of 10 dollars, or more than 300 liras, in futures transactions.
You can help your friends in need by sharing this post.
BY THE WAY, MY BROTHERS, PLEASE DON'T MISS YOUR LIKES. EVERY SHARE IS FOR YOU. SO DON'T WITHHOLD YOUR SUPPORT. DON'T FORGET TO FOLLOW IF YOU HAVE NOT FOLLOWED YET. KIND REGARDS.
