{"id":628596,"date":"2024-07-09T12:30:54","date_gmt":"2024-07-09T12:30:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=628596"},"modified":"2024-07-09T11:25:31","modified_gmt":"2024-07-09T11:25:31","slug":"german-bitcoin-rapid-selling","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin\/german-bitcoin-rapid-selling\/","title":{"rendered":"German Triggers Bitcoin Crash With Rapid Selling: Here\u2019s How Much BTC They Have Left"},"content":{"rendered":"

The price of <\/span>Bitcoin has crashed<\/span><\/a> again as the German government continues its BTC selling spree. The government has already sold millions of dollars worth of Bitcoin, putting <\/span>immense pressure<\/span><\/a> on the pioneer cryptocurrency amidst broader market volatility.\u00a0<\/span><\/p>\n

German Government Initiates Massive BTC Sell-Off<\/h2>\n

Bitcoin\u2019s consistent price decline<\/span><\/a> has been driven by multiple factors including outflows from Spot Bitcoin ETFs, unfavorable market conditions and <\/span>Mt Gox\u2019s BTC redistribution plans<\/span><\/a>. Lately, the cryptocurrency\u2019s price has been further pressured by the <\/span>substantial BTC sell-offs<\/span><\/a> executed by the German government.\u00a0<\/span><\/p>\n

Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins<\/a><\/div>\n

For weeks, Germany has <\/span>sold thousands of Bitcoin<\/span><\/a> worth hundreds of millions of dollars. On June 25, blockchain analytics platform Arkham Intelligence <\/span>reported<\/span><\/a> that the government sold 900 BTC worth about $52 million. They moved 400 BTC to Coinbase and Kraken and transferred the rest to an unidentified address.\u00a0<\/span><\/p>\n

Additionally, last week the German government <\/span>executed<\/span><\/a> another major Bitcoin sell-off, transferring a whopping 3,000 BTC valued roughly at $172 million to exchanges. The government moved 1,300 BTC to Kraken, Bitstamp, and Coinbase and sold the rest to an unknown wallet address.\u00a0<\/span><\/p>\n

The most recent BTC transaction was on Monday, June 8, when the German police sold an additional 2,738.7 BTC worth approximately $155.3 million.\u00a0<\/span>Arkham Intelligence revealed that the Bitcoin was likely\u00a0sold to crypto exchanges<\/a> or market makers, including Kraken, Cumberland, 139Po, and address bc1qu.<\/span>\u00a0<\/span><\/p>\n

As of writing, the German government still holds a staggering amount of Bitcoin. Arkham\u2019s <\/span>data<\/span><\/a> has revealed that the government\u2019s holdings amount to 26,053 BTC valued at approximately $1.49 billion.\u00a0<\/span><\/p>\n

Despite the <\/span>BTC\u2019s recent crash<\/span><\/a>, the German government Bitcoin continues to sell their BTC holdings at a rapid pace. Joanna Cotar, a member of the German Bundestag, the National parliament of the Federal Republic of Germany, has shown her displeasure with the government\u2019s decision to <\/span>sell off their BTC holdings<\/span><\/a>.<\/span><\/p>\n

Cotar <\/span>disclosed<\/span><\/a> that the government should be strategically holding BTC and not selling them off. She disclosed that their recent BTC sell-offs were counterproductive and not sensible, urging the government to utilize their BTC as a strategic reserve currency.\u00a0\u00a0<\/span><\/p>\n

Bitcoin Price Update After Crash<\/h2>\n

Over the past week, <\/span>Bitcoin\u2019s price fell<\/span><\/a> by a substantial 8.71% after crashing by 17.10% in the past month. This decline has been attributed to <\/span>unabating selling pressures<\/span><\/a> and recent bearish trends in the crypto market.\u00a0<\/span><\/p>\n

Related Reading: XRP Price: Crypto Analyst Identifies \u2018Point Of Control\u2019 That Could See A Repeat Of 2017<\/a><\/div>\n

Since the beginning of June, Bitcoin\u2019s price movements have been <\/span>displaying weakness and underperforming<\/span><\/a> significantly. Despite inflows into Spot Bitcoin ETFs, Bitcoin had remained volatile under the $60,000 price mark, showing minor upward momentum.\u00a0<\/span><\/p>\n

Including the <\/span>German government\u2019s BTC sell-offs<\/span><\/a>, crypto analyst, Ali Martinez has also revealed in an <\/span>X post<\/span><\/a> that Bitcoin whales have sold over 30,000 BTC worth approximately $1.8 billion in the past month. This 30,000 BTC sell-off which surpasses the <\/span>German government\u2019s current Bitcoin holdings<\/span><\/a> has contributed significantly to Bitcoin\u2019s decline to its present price of $57,039, according to CoinMarketCap.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price holds above $57,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

The price of Bitcoin has crashed again as the German government continues its BTC selling spree. The government has already sold millions of dollars worth of Bitcoin, putting immense pressure on the pioneer cryptocurrency amidst broader market volatility.\u00a0 German Government Initiates Massive BTC Sell-Off Bitcoin\u2019s consistent price decline has been driven by multiple factors including outflows from Spot Bitcoin ETFs, unfavorable market conditions and Mt Gox\u2019s BTC redistribution plans. Lately, the cryptocurrency\u2019s price has been further pressured by the substantial BTC sell-offs executed by the German government.\u00a0 Related Reading: Dogecoin Vs. Shiba Inu Vs. PEPE: Comparing The Profitability Of The Top Meme Coins For weeks, Germany has sold thousands of Bitcoin worth hundreds of millions of dollars. On June 25, blockchain analytics platform Arkham Intelligence reported that the government sold 900 BTC worth about $52 million. They moved 400 BTC to Coinbase and Kraken and transferred the rest to an unidentified address.\u00a0 Additionally, last week the German government executed another major Bitcoin sell-off, transferring a whopping 3,000 BTC valued roughly at $172 million to exchanges. The government moved 1,300 BTC to Kraken, Bitstamp, and Coinbase and sold the rest to an unknown wallet address.\u00a0 The most recent BTC transaction was on Monday, June 8, when the German police sold an additional 2,738.7 BTC worth approximately $155.3 million.\u00a0Arkham Intelligence revealed that the Bitcoin was likely\u00a0sold to crypto exchanges or market makers, including Kraken, Cumberland, 139Po, and address bc1qu.\u00a0 As of writing, the German government still holds a staggering amount of Bitcoin. Arkham\u2019s data has revealed that the government\u2019s holdings amount to 26,053 BTC valued at approximately $1.49 billion.\u00a0 Despite the BTC\u2019s recent crash, the German government Bitcoin continues to sell their BTC holdings at a rapid pace. Joanna Cotar, a member of the German Bundestag, the National parliament of the Federal Republic of Germany, has shown her displeasure with the government\u2019s decision to sell off their BTC holdings. Cotar disclosed that the government should be strategically holding BTC and not selling them off. She disclosed that their recent BTC sell-offs were counterproductive and not sensible, urging the government to utilize their BTC as a strategic reserve currency.\u00a0\u00a0 Bitcoin Price Update After Crash Over the past week, Bitcoin\u2019s price fell by a substantial 8.71% after crashing by 17.10% in the past month. This decline has been attributed to unabating selling pressures and recent bearish trends in the crypto market.\u00a0 Related Reading: XRP Price: Crypto Analyst Identifies \u2018Point Of Control\u2019 That Could See A Repeat Of 2017 Since the beginning of June, Bitcoin\u2019s price movements have been displaying weakness and underperforming significantly. Despite inflows into Spot Bitcoin ETFs, Bitcoin had remained volatile under the $60,000 price mark, showing minor upward momentum.\u00a0 Including the German government\u2019s BTC sell-offs, crypto analyst, Ali Martinez has also revealed in an X post that Bitcoin whales have sold over 30,000 BTC worth approximately $1.8 billion in the past month. This 30,000 BTC sell-off which surpasses the German government\u2019s current Bitcoin holdings has contributed significantly to Bitcoin\u2019s decline to its present price of $57,039, according to CoinMarketCap.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":628609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790,92650,2181],"class_list":["post-628596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-german-government","tag-germany"],"acf":[],"yoast_head":"\nGerman Triggers Bitcoin Crash With Rapid Selling: Here\u2019s How 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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