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Germany recovers $200 million in Bitcoin from exchanges, cryptocurrencies recover losses

Bitcoin led the crypto market's recovery early Tuesday, with a German government entity recovering more than $200 million worth of Bitcoin from multiple exchanges later in the U.S. time, helping boost sentiment. Bitcoin fell to a low of $55,000 on Monday shortly after an address of the German Federal Criminal Police (BKA) sent more than $900 million to multiple addresses, spooking traders. But Arkham data showed that the entity had received more than $200 million from three websites in the past 12 hours, indicating that although the assets were sent to these exchanges, they ultimately did not enter the market.