BTC's trading volume in the past 24 hours was about $33.7 billion

The German government's selling only accounted for 2% of Bitcoin's daily trading volume?

How did it cause such a big panic? How big is its actual impact?

In terms of absolute amount, the proportion of these BTC sold by the German government in the total market trading volume is not too large! (Germany currently holds about $1.5 billion in BTC)

Why is the market reaction so big? In general, there are three reasons:

1: The German government did not use the over-the-counter channels commonly used for large transactions, but directly "smashed" into the exchange. The surge in short-term selling pressure can easily break the buyer liquidity in major exchanges, thereby causing a rapid short-term decline in the market

2: The German government's continued selling can easily affect market sentiment, especially in the current pessimistic market environment

3: The German government's fully open operation mode also gave some shorts the opportunity to take advantage of the opportunity, exacerbating market volatility

In its latest report, it stated that the market has gradually realized that although the nominal value of the BTC transferred by the German government is large, it accounts for a small proportion of the total trading volume of BTC. This is a potential market bottoming signal!

Observation: bonk, zen, ethfi, chr, tia...

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