Bitcoin Steady at $58.5K as German State Saxony Moves Over $600M in BTC
BTC held largely steady amid the continued divestment of coins, having failed to keep gains above $59,000 during the Asian hours.
The wallet associated with the German Federal Criminal Police Office (BKA) moved 5,103.5 BTC during the European hours, according to Arkham Intelligence.
BTC held largely steady amid Germany's continued divestment of coins.
Bitcoin (BTC) holds steady at around $58,500 amid German state Saxony's fresh movement of coins on-chain, having failed to keep gains above $59,000 during the Asian hours.
At press time, the leading cryptocurrency by market value traded at $58,470, down 1.6% from the high of $59,450 reached at 1:06 UTC
Per Arkham Intelligence, so far today, the German Federal Criminal Police Office (BKA) has moved over 10,853 BTC worth $637 million, to exchanges Kraken and Coinbase and market makers like Cumberland and Flow Traders, continuing its proactive approach of liquidating BTC seized from a privacy website.
On Tuesday, CoinDesk reported that it was the German state of Saxony that has been moving bitcoin for the past few weeks in accordance with standard procedure.
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