Bitcoin Prices Dropped Significantly This Week, Impacted by the German Government\'s Sale of Over 16,000 BTC

Bitcoin's value fell by about 10% in the past week, adding pressure to an already volatile market.

1. German Government Sold 16,000 BTC Impacting Cryptocurrency Prices:

The German government sold over 16,000 Bitcoin, valued at approximately $500 million, significantly impacting cryptocurrency prices. This sell-off is part of the government's ongoing liquidation of 50,000 BTC seized in the Movie2k case.

2. Bitcoin Prices Fell by 10% Due to Government Asset Movements:

Bitcoin prices dropped around 10% in the past week as a result of the German government's large-scale BTC sales. Multiple large BTC transfers to various exchanges were observed, leading to a substantial price drop.

3. German Government Sold BTC to Kraken, Bitstamp, Coinbase, and 139Po:

The Arkham team noted the significant activity on their social media platform, X: “The German Government sent another 5200 BTC to Kraken, Bitstamp, Coinbase, and 139Po right after we posted this tweet. That makes this the biggest day for them - over 16,000 BTC in total.”

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