Bitcoin

<ul><li>The German government offloaded $76M worth of BTC, leading to a sharp market drop below $58,000, as reported by Arkham.</li><li>A total of 1,300 BTC was distributed to Bitstamp, Coinbase, and Kraken, sparking market volatility and speculation.</li><li>An additional 1,700 BTC was moved to an undisclosed wallet, hinting at further potential sales to reduce exposure.</li></ul>The German government offloaded approximately <a href="https://x.com/ArkhamIntel/status/1808796101975175473" rel="noopener noreferrer nofollow">$76 million</a> worth of Bitcoin, distributing 1,300 BTC across several prominent cryptocurrency exchanges. The renowned analytical platform, Arkham Intelligence, reported this substantial transfer in a recent X post. The news of this transfer coincided with a sharp decline in Bitcoin&#39;s value, which fell below the $58,000 mark.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXck4HCgkeOA2bXNCKfy2kTd42YyTTZNQE4bRFdn1oCxR8pLaxaAVCs7ym9yVB2jj9XyuDURyyAORxrcNuhSNDrOp-2DfKgoypQKr8FVuMuqDaxOJns_mbUOpJkGAYiC0yUhbPTVLQZzQ8rZJsIquy6bX2Y9?key&#61;oetRB8pQg6dXuSOihJ4_TA" />Arkham Intelligence&#39;s data <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" rel="noopener noreferrer nofollow">pinpointed</a> the distribution of the 500 BTC, valued at $29.05 million, to Bitstamp, while Coinbase and Kraken each received 400 BTC, worth $23.24 million. Furthermore, the German authorities relocated an additional 1,700 BTC, valued at $98.76 million, to an undisclosed wallet. This move sparked widespread speculation about potential future sell-offs as part of the government&#39;s strategy to mitigate its exposure to Bitcoin&#39;s notorious volatility.<a href="https://cryptotale.org/german-government-fuels-bitcoin-volatility-with-76-million-sell-off/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

German Government Fuels Bitcoin Volatility with $76 Million Sell-Off

CryptoTale

Andre artikler udgivet 5. jul. 2024

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