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In a continued effort to liquidate its substantial Bitcoin holdings, the German government has once again engaged in significant transactions involving BTC, according to data from blockchain analytics platforms Arkham Intel. This morning, the Federal Criminal Police Office (BKA) executed nine transactions involving a total of roughly 2,786 BTC. German Gov\u2019t Continues Its Bitcoin Sell-Off Arkham Intel’s data shows that four of them are internal transfers while five transactions were direct transfers to crypto exchanges and market makers, suggesting an intent to sell. The five potential sales amount to 1,095.339 BTC worth approximately $67 million. Specifically, the BKA made two 125 BTC transfers, each worth approximately $7.7 million, to well-known crypt exchanges Bitstamp and Kraken. An additional transaction involved a minute test transfer of 0.001 BTC to Flow Traders, a leading market maker. This small transaction was soon followed by a much larger transfer of 345.338 BTC to the same entity, strongly suggesting preparation for a substantial sell order. Related Reading: Here\u2019s Why The Bitcoin Bottom Is In, New Highs Imminent: Crypto Expert Another noteworthy transfer of 500 BTC was directed to an enigmatic address tagged as \u201c139Po.\u201d This address has seen previous activity linked to the German government but remains shrouded in mystery, speculated to be another sale point. These transactions form part of a broader trend observed since last week. Just a day prior, on June 25, the government had disposed of 400 Bitcoin worth $24 million on Kraken and Coinbase, as well as 500 BTC to address \u201c139Po.\u201d This is in addition to significant movements earlier last week: $130 million worth of BTC were transferred to exchanges on June 19 and $65 million on June 20. Counterbalancing these outflows, the government received $20.1 million back from Kraken and $5.5 million from wallets associated with Robinhood, Bitstamp, and Coinbase. Related Reading: Will Bitcoin Have A \u2018Red Monday, Green Week\u2019? Analyst Sets $63,500 Target Currently, the German government’s holdings amount to 45,264 BTC, valued at around $2.8 billion. This makes Germany one of the top nation-state holders of Bitcoin, trailing only behind the United States, China, and the United Kingdom, which hold 213,246 BTC, 190,000 BTC, and 61,000 BTC respectively, according to data from Bitcoin Treasuries. BTC Price Hangs Above Critical Level The pattern of large-scale disposals by the German government has contributed to fluctuations in Bitcoin’s market price, which has experienced a decline of approximately 6% since the onset of these transactions. Bitcoin’s value briefly fell below the $60,000 threshold following the announcement from Mt. Gox\u00a0about disbursing approximately $9 billion worth of Bitcoin and Bitcoin Cash starting in July. Market analysts and investors are also keenly observing these governmental actions as the sell-off seems to continue at a slow pace. This strategic liquidation by the German government arrives at a pivotal juncture for market sentiment, with Bitcoin prices teetering just above critical support levels. Should the daily trading price close below the $60,000 threshold, it could potentially trigger a more pronounced downturn in Bitcoin’s price, exacerbating market volatility and uncertainty. At press time, BTC traded at $61,451. Featured image created with DALL\u00b7E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":626495,"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":[428,656,679,1119,1122,1144,92650,2181,92651,92652],"class_list":["post-626491","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-price","tag-btcusd","tag-german-government","tag-germany","tag-germany-bitcoin-holdings","tag-germany-bitcoin-sell-off"],"acf":[],"yoast_head":"\n
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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/ktsl888.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Selloff: German Gov’t Offloads Another $67 Million As Price Wobbles","url":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-selloff-german-govt-another-67-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-selloff-german-govt-another-67-million\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-26-12.39.29-A-realistic-image-of-a-large-shiny-Bitcoin-coin-prominently-displayed-in-front-of-a-waving-German-flag.-The-Bitcoin-should-have-a-highly-detailed-re.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-26-12.39.29-A-realistic-image-of-a-large-shiny-Bitcoin-coin-prominently-displayed-in-front-of-a-waving-German-flag.-The-Bitcoin-should-have-a-highly-detailed-re.png?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc price","btcusd","german government","germany","germany bitcoin holdings","germany bitcoin sell-off"],"dateCreated":"2024-06-26T16:00:37Z","datePublished":"2024-06-26T16:00:37Z","dateModified":"2024-06-26T16:00:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Selloff: German Gov’t Offloads Another $67 Million As Price Wobbles\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-selloff-german-govt-another-67-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin\\\/bitcoin-selloff-german-govt-another-67-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-26-12.39.29-A-realistic-image-of-a-large-shiny-Bitcoin-coin-prominently-displayed-in-front-of-a-waving-German-flag.-The-Bitcoin-should-have-a-highly-detailed-re.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/DALL\\u00b7E-2024-06-26-12.39.29-A-realistic-image-of-a-large-shiny-Bitcoin-coin-prominently-displayed-in-front-of-a-waving-German-flag.-The-Bitcoin-should-have-a-highly-detailed-re.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc price\",\"btcusd\",\"german government\",\"germany\",\"germany bitcoin holdings\",\"germany bitcoin sell-off\"],\"dateCreated\":\"2024-06-26T16:00:37Z\",\"datePublished\":\"2024-06-26T16:00:37Z\",\"dateModified\":\"2024-06-26T16:00:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/DALL\u00b7E-2024-06-26-12.39.29-A-realistic-image-of-a-large-shiny-Bitcoin-coin-prominently-displayed-in-front-of-a-waving-German-flag.-The-Bitcoin-should-have-a-highly-detailed-re.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/626491"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=626491"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/626491\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/626495"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=626491"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=626491"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=626491"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Bitcoin](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/06\/Arkhan.png?resize=1875%2C842\")
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