The German government is once again making waves in the cryptocurrency market, moving another 1,000 BTC worth $55.8 million earlier this week. Half of this has been deposited into well-known cryptocurrency exchanges such as Bitstamp and Kraken. Since June 20, the German government has transferred a cumulative 11,033 BTC worth $669 million, at an average price of $60,669 per BTC.

This series of massive moves had a significant impact on the market, causing the price of Bitcoin to fall from $62,000 to $54,000 over the past week. Tron founder Justin Sun has publicly offered to purchase all Bitcoin held by the German government off-site to mitigate further negative impact on the market, but has yet to receive a response from the German government.

According to SpotOnChain data, the German government still holds 38,826 BTC worth approximately $2.16 billion. With continued selling activity from such large holders, market stability and potential management strategies of large-scale Bitcoin transfers on market prices come into focus.

Further liquidation by the German government may continue to impact Bitcoin price and overall market sentiment#BTC下跌分析 #TON #德国政府转移比特币 #美联储何时降息？