The German government completely emptied its Bitcoin reserves on July 12. The last transaction involved sending 3,846 Bitcoin (BTC) to “Flow Traders and 139Po,” described by Arkham Intelligence as “possibly an institutional deposit/OTC service.” This action comes after increasing selling pressure from the German government.

Most of the 50,000 Bitcoins released by the German government in the last three weeks were obtained as a result of an asset seizure and were largely responsible for keeping the market below the $60,000 price point and its 200-day exponential moving average.

Even so, the $9 billion Mt. Selling pressure from the Gox compensation plan could keep Bitcoin's price under pressure in the coming weeks, perpetuating the climate of fear, uncertainty and doubt that has gripped the market in recent months.

According to analysis, investors Mt. He could sell up to 99% of Gox's $8.2 billion. However, IG Markets analyst Tony Sycamore said Mt. Gox payments will not have the catastrophic impact on markets as many investors expect.

Amid increasing selling pressure, institutional investors bought the dip. U.S. exchange-traded funds (ETFs) saw inflows of $295 million for the week of July 8, according to CoinShares data. This reversed a several-week trend of suppressed inflows into mutual funds. What are your thoughts? We are waiting your comments.