Information about the June transfers of confiscated bitcoins from the wallet of the German government put serious pressure on the market, causing - for the first time since February - a drop in the rate of the first cryptocurrency to $53.6 thousand. According to the Arkham service, since June 19, the country's authorities have transferred more than 24 thousand bitcoins (approximately $1.44 billion) to various external wallets. As of July 9, the German government still has 22,846 BTC worth $1.3 billion.

Investor concerns have been exacerbated by the upcoming payout of assets to users of the Mt. cryptocurrency exchange. Gox, which includes a significant amount of Bitcoin. Governors of the Mt. Exchange On July 5, Gox officially confirmed that they would begin paying compensation in Bitcoin and Bitcoin Cash totaling about $9 billion.

Despite large transfers of coins to exchanges, some transactions were sent to market makers, institutional market participants and over-the-counter (OTC) platforms. This raised hopes that selling pressure would be reduced if sales were to bypass the open market. Experts believe that this could serve to restore the Bitcoin rate at the beginning of the week to $58 thousand.