German Government Continues Bitcoin Sale: 400 BTC Transferred Amid Market Fluctuations
The German government transferred an additional 400 BTC to major cryptocurrency exchanges.
This move is part of an ongoing sell-off that has totaled over 2,500 BTC in recent weeks.
These transactions took place amid market volatility despite Bitcoin's price facing resistance above $62,000.
The German government intensified its Bitcoin divestment strategy, transferring an additional 400 BTC to major exchanges such as Bitstamp, Coinbase and Kraken. This is part of a broader selling effort to surpass 2,500 BTC seen in recent weeks. These transactions, which are made constantly during market fluctuations, show that German authorities are strategically liquidating their assets.
Details of Latest Transfers
Latest data shows that at 16:25 UTC+8, the government transferred 400 BTC worth approximately $25.28 million to various exchanges. Notably, Kraken and Coinbase received 100 BTC each, while Bitstamp received the largest share, 200 BTC. This move is consistent with previous patterns of more than 2,700 BTC in total being sent to exchanges from the same government address over the past two weeks.
Despite this significant sell-off, Bitcoin's market performance has shown remarkable stability. According to the latest information, the price of Bitcoin is $62,868.28 and the 24-hour trading volume is recorded as $23.8 billion. Additionally, Bitcoin's market cap remains strong at around $1.2 trillion, highlighting its dominant position in the cryptocurrency world.
Insights on Bitcoin Market Metrics
Bitcoin's Relative Strength Index (RSI) is currently at 58.3, just below the critical 50 RSI threshold. This indicates significant buying pressure despite the ongoing sell-off. Additionally, Bitcoin experienced a 2.29% increase in the last 24 hours, ranging from $62,545.85 to $63,747.It is traded in the range of 23.
