👀👀Hot Development: BTC Dropped to $54,800 But Why? Here's What Happened in the Last Few Hours 👀👀

He announced that Germany sold half of its BTCs. BKA still has 23,788 BTC under its control. Large transfers in the last hour suddenly pushed the BTC price to $54,800. Bitcoin (BTC) price dropped to $54,800 at the time of writing and is currently selling at $56,000. Volatility is extremely high. The biggest reason for this situation is Germany's ongoing BTC sales. So what happened in the last few hours that triggered this decline? Here are the details.

Why Is Bitcoin Falling?

The 50 thousand BTC seized by the German government has been sold in pieces for a long time. While on-chain alarms are ringing with constant transfers, investors' risk appetite is significantly negatively affected. The good news is that half of the total reserves have been dissolved with the latest corporate sales by the German government's BKA. At the time of writing, $79.9 and $51.3 million worth of BTC were transferred on Coinbase and Bitstamp exchanges, respectively. Following recent transfers to market maker Flow Traders and exchanges, $1.35 billion of BTC is now left available for sale.

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