IS the German Government To Be Blame for latest Crypto Meltdown….???

Sale of Bitcoin by the German government caused the crypto market downturn…?

Some traders say Germany’s $BTC selling is behind this week’s drop, but a negative reaction to concerning macroeconomic data is the likely culprit as Traders are concerned that the stock market may have peaked and that the United States fiscal situation is weakening….

According to the onchain crypto analytics firm Arkham, a wallet linked to the German government transferred 6,500 $BTC to exchanges on June 19, worth $425 million at the time. Arkham claims that the wallet held nearly 50,000 $BTC, believed to have been seized from the pirated movie website Movie2k, which operated in 2013. The evidence suggests that this entity sent BTC to Kraken, Bitstamp and Coinbase, leaving little doubt about its origin and effective sale..

However, this theory is flawed because the U.S.-based business intelligence firm MicroStrategy disclosed on June 20 that it had purchased an additional 11,931 BTC for $786 million. Thus, MicroStrategy’s buy covered the selling pressure of German Government including the two-day $292 million net outflow from U.S. spot Bitcoin exchange-traded funds..

let's see how the market will start performing the New week in 2 days ...