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<ul>
 <li>The German government transferred 750 BTC to exchanges, part of a larger selloff of 4,250 BTC this week, totaling $271.3 million.</li>
 <li>Significant Bitcoin transfers: Kraken and Bitstamp received 125 BTC each; Flow Traders got the largest share with 345 BTC.</li>
 <li>Bitcoin stays strong at $61,286, even as the German government sells off large amounts of BTC to major exchanges.</li>
</ul>
<p>The German government keeps selling its Bitcoin, recently moving another 750 BTC to major <a href="https://cryptonewsland.com/why-new-cryptocurrency-exchanges-are-untrustworthy/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency exchanges</a>. This move is part of a series of sell-offs from an address associated with the German authorities. Notably, this week alone, approximately 4,250 BTC, valued at around $271.3 million, have been moved out of the German government’s wallets at an average price of $63,828 per Bitcoin.</p>
<p>The address marked as “German Government” moved 750 BTC, valued at approximately $46 million, in a recent transaction. Significantly, the bulk of this transfer, 595 BTC worth about $36.5 million, was distributed among major exchanges. Bitstamp and Kraken each received 125 BTC, while Flow Traders, a global trading firm, received the largest portion, 345 BTC.</p>
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   <p lang="en" dir="ltr">45 mins ago, the German Government transferred away another 750 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> ($46.27M), including:<br>• 125 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a><br>• 125 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitstamp</a><br>• 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to wallet “139PoPE1bK”<br>• 0.001 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> to Flow Traders (likely a test txn)<br><br>In the past week, around 4,250 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> (~$271.3M) have… <a href="https://t.co/JV63Xsc8IC" rel="noopener noreferrer nofollow">https://t.co/JV63Xsc8IC</a> <a href="https://t.co/Ezorz9egCf" rel="noopener noreferrer nofollow">pic.twitter.com/Ezorz9egCf</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1805884321691287995?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 26, 2024</a>
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<p>Moreover, Kraken appears to be a preferred exchange for these transfers, as it also received 200 BTC in yesterday’s 400 BTC sell-off. Hence, it is evident that the German authorities are strategically spreading their Bitcoin across different platforms. This persistent nature of sales suggests that the German government may not be finished liquidating its <a href="https://river.com/learn/who-owns-the-most-bitcoin/#:~:text=Private%20Companies%20Holding%20the%20Most,or%200.7%25%20of%20total%20supply." target="_blank" rel="noopener noreferrer nofollow">Bitcoin holdings</a>.</p>
<p>The price of Bitcoin has demonstrated resiliency in spite of these notable sell-offs. It just rose beyond $62,000 and leveled off a little above $61,000. As of the reporting period, the live price of Bitcoin is <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">$61,286.22</a>, with $23.8 billion in 24-hour trading activity. With a $18.1 billion valuation, open interest in Bitcoin has climbed by 0.18%. Consequently, the market has maintained a steady performance, reflecting confidence among investors.</p>
<h3 class="wp-block-heading" id="h-market-dynamics-and-future-implications"><strong>Market Dynamics and Future Implications</strong></h3>
<p>The consistent transfer of Bitcoin from the German government has raised questions about the potential impact on the market. Besides the large volume of sales, the timing of these transactions amid market tensions suggests a calculated approach. The authorities seem to be leveraging current market conditions to maximize their returns.</p>
<p>Additionally, the choice of exchanges like Kraken and Bitstamp highlights the strategic nature of these transactions. These platforms offer liquidity, ensuring the smooth execution of large trades without severe market disruptions. Moreover, the involvement of Flow Traders indicates an interest in engaging with professional trading firms to manage these transactions effectively.</p>
<p>The German government’s continued <a href="https://cryptonewsland.com/bitcoin-selloffs-shifting-market-sentiment-is-it-the-time-to-sell/" target="_blank" rel="noopener noreferrer nofollow">selloff of Bitcoin</a> reflects a broader strategy to liquidate its holdings. However, Bitcoin’s price resilience and the strategic choice of exchanges indicate a controlled approach to minimize market impact. As these transactions continue, the market will closely monitor the potential implications for Bitcoin’s price stability and overall market dynamics.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoin-selloffs-shifting-market-sentiment-is-it-the-time-to-sell/" rel="noopener noreferrer nofollow">Bitcoin Selloffs Shifting Market Sentiment: Is it the Time to Sell?</a></li>
 <li><a href="https://cryptonewsland.com/german-bank-with-390b-in-aum-to-offer-crypto-products-soon/" rel="noopener noreferrer nofollow">German Bank With $390B in AUM To Offer Crypto Products Soon</a></li>
 <li><a href="https://cryptonewsland.com/binance-coin-recovers-support-despite-market-selloff/" rel="noopener noreferrer nofollow">Binance Coin Recovers Support Despite Market Selloff</a></li>
 <li><a href="https://cryptonewsland.com/german-court-orders-trader-who-made-3-8m-profit-to-pay-dumbs-tax/" rel="noopener noreferrer nofollow">German Court Orders Trader Who Made $3.8M Profit To Pay “Dumb’s Tax”</a></li>
 <li><a href="https://cryptonewsland.com/toncoin-defies-market-trends-amid-widespread-selloffs-with-recent-surge/" rel="noopener noreferrer nofollow">Toncoin Defies Market Trends Amid Widespread Selloffs with Recent Surge</a></li>
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<p>The post <a href="https://cryptonewsland.com/german-government-continues-bitcoin-selloff-amid-market-tensions/" rel="noopener noreferrer nofollow">German Government Continues Bitcoin Selloff Amid Market Tensions</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

German Government Continues Bitcoin Selloff Amid Market Tensions

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