Another Right Hook from Germany to Bitcoin: Price Dropped by $3,000 in Minutes!

The German-controlled wallet has once again moved for hundreds of millions of dollars worth of Bitcoin (BTC).

The wallet belonging to the German government moved 3,500 BTC worth $200 million to the exchanges. Following the transfer, the Bitcoin price lost 4.6%, falling from $57,600 to $54,900.

Germany has managed to create serious sales pressure on the Bitcoin price with its sales in recent weeks.

They couldn't finish it by selling and selling

Today alone, the government sent 133,722 BTC to cryptocurrency market maker Cumberland, 150 BTC to cryptocurrency exchange Kraken, 1,000 BTC to B2C2 Group, and 250 BTC to an anonymous address. In addition, he transferred 1,000 BTC to Coinbase and Bitstamp.

According to records, the government sold more than $400 million worth of Bitcoin in less than a month. German MP Joana Cotar said: “I can only guess why the government is selling right now. "One of the reasons for this may be that we are currently experiencing a budget deficit in Germany," he said.

Germany still holds Bitcoin worth more than $2 billion.