The German government's selling is the main reason for the recent Bitcoin pullback. They sold more than $1.5 billion worth of Bitcoin. I analyzed all the data and transactions and found several hidden information. The results shocked me.......
For nearly 135 days, Bitcoin has been in a range-bound state, with prices fluctuating between $57,000 and $70,000, but recently there was a 25% correction, with Bitcoin falling to $53,000. There are many reasons for this, but the main reason is the German government's selling.
Although the German government has never invested in Bitcoin, in January 2024, the German government confiscated 50,000 euros $BTC from the Movie2k website, which is currently worth $2.9 billion. Such an amount is enough to affect the market.
Even TRON founder Justin Sun proposed to buy $2.3 billion worth of Bitcoin seized by the German government to avoid price pressure, but the Germans refused.
Recently, the German government has sold nearly half of its Bitcoin, or 25,000, and these transactions can be tracked using Arkham. My research is to understand how it will further affect the price, whether it will rise again or fall.
Today, the German government sold almost all of its Bitcoins, and at the same time, Bitcoin is now rising, returning to the price consolidation range I mentioned.
But how is this possible?
This is common in cryptocurrencies, rumors about news have a greater impact on prices than the news itself. The 25% correction we saw was already a reaction to the news, and now the price is recovering and rising.
All this is also very similar to what happens in every cycle - [Bear Trap]. When the weak exit the market, the market will see a 20-40% correction, which provides the market with an opportunity to welcome huge growth.
At such moments, the main task is to either hold positions or actively accumulate them. This is a critical moment that determines the winners and losers of this cycle, and now may be the last chance to enter the market.
Now there are no other major causes of FUD, and I think the most difficult moments are over. Even if there is more bad news that makes us fall, the rise is definitely just around the corner.
