GermanWallets
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GERMAN GOVERNMENT BITCOIN SALES IMPACT CRYPTO MARKET
#Germany #GermanWallets #Bitcoin #BitcoinPrice $BTC
Wallets linked to the German government still hold approximately 23,800 bitcoin, according to Arkham Intelligence data.
Government Moves $500M in Bitcoin
Bitcoin (BTC) dropped on Monday afternoon in Europe as the German government moved $500 million in assets, as shown by blockchain data. According to Arkham Intelligence, a Bitcoin address linked to the German government transferred 8,700 BTC to an intermediate wallet. These assets were then sent to crypto exchanges Bitstamp, Kraken, Coinbase, and market maker Flow Traders.
Bitcoin Price Fluctuations
Following these transactions, Bitcoin's price fell by 3%, reaching a low of $55,000. It later rebounded to slightly above $56,000, marking a 1.2% decline over the past 24 hours.
Market Conditions and Reactions
This price action followed a significant drop last week, reaching the lowest price since February. Market analysts attributed this to an influx of supply during the typically quiet and low-volume summer period. Both the German and U.S. governments appear to be selling seized assets, coinciding with the defunct crypto exchange Mt. Gox issuing repayments.
With the latest asset transfers, the German government's Bitcoin holdings have decreased to 23,800 BTC, valued at $1.3 billion, according to Arkham data.
By moving a large volume of Bitcoin, the German government's actions have notable implications for the crypto market. Keeping an eye on such movements can help investors and enthusiasts better understand market dynamics and price fluctuations.
GERMAN GOVERNMENT BITCOIN SALES IMPACT CRYPTO MARKET
#Germany #GermanWallets #Bitcoin #BitcoinPrice $BTC
Wallets linked to the German government still hold approximately 23,800 bitcoin, according to Arkham Intelligence data.
Government Moves $500M in Bitcoin
Bitcoin (BTC) dropped on Monday afternoon in Europe as the German government moved $500 million in assets, as shown by blockchain data. According to Arkham Intelligence, a Bitcoin address linked to the German government transferred 8,700 BTC to an intermediate wallet. These assets were then sent to crypto exchanges Bitstamp, Kraken, Coinbase, and market maker Flow Traders.
Bitcoin Price Fluctuations
Following these transactions, Bitcoin's price fell by 3%, reaching a low of $55,000. It later rebounded to slightly above $56,000, marking a 1.2% decline over the past 24 hours.
Market Conditions and Reactions
This price action followed a significant drop last week, reaching the lowest price since February. Market analysts attributed this to an influx of supply during the typically quiet and low-volume summer period. Both the German and U.S. governments appear to be selling seized assets, coinciding with the defunct crypto exchange Mt. Gox issuing repayments.
With the latest asset transfers, the German government's Bitcoin holdings have decreased to 23,800 BTC, valued at $1.3 billion, according to Arkham data.
By moving a large volume of Bitcoin, the German government's actions have notable implications for the crypto market. Keeping an eye on such movements can help investors and enthusiasts better understand market dynamics and price fluctuations.
The main purpose of germany for selling and buying $BTC is to create panic in the market thats why we are seeing that the market goes up and down since the last week this all happen because first they create panic by spreading the news of large amount of $BTC selling and then they buyback
90million$ of btc and again sold them
If germany actually wants to sell there $btc then they dont sell them openly to cemtralized exchanges and dont spread the selling news as they have still an about 1.5billion$ btc left and then if they want to sell then they can just do a contract with some exchange and dont even buyback it
These panic news may be the start of the bull season that everyone is waiting for but these crypto whales just want to buy all of these crypto at low price and take almost all the profits to themselves
#GermanWallets #PanicSell
90million$ of btc and again sold them
If germany actually wants to sell there $btc then they dont sell them openly to cemtralized exchanges and dont spread the selling news as they have still an about 1.5billion$ btc left and then if they want to sell then they can just do a contract with some exchange and dont even buyback it
These panic news may be the start of the bull season that everyone is waiting for but these crypto whales just want to buy all of these crypto at low price and take almost all the profits to themselves
#GermanWallets #PanicSell
