JUST

Flow

2024

Bitcoin

Arkham

<p>The post <a href="https://coinpedia.org/news/german-government-moves-300m-in-bitcoin-to-exchanges-more-sell-off-ahead/">German Government’s Massive Bitcoin Transfers: What’s Going On?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The German government wallet has recently moved overall 8853.5 BTC, worth nearly $520.17 million, to multiple crypto exchanges. Despite this large transfer, Bitcoin’s price remained <a href="https://markets.coinpedia.org/bitcoin" target="_blank" rel="noreferrer noopener">steady at around $58,500</a>, reflecting a 2% increase in the last 24 hours.&nbsp;Shocker, right? </p> 
<p>Dive deeper to find out how this government action might impact the future of Bitcoin.</p> 
<h2 class="wp-block-heading" id="h-is-a-sell-off-coming">Is a Sell-Off Coming? </h2> 
<p>These significant transactions have sparked concerns in the crypto community, suggesting that more sell-offs might be imminent. </p> 
<p>Arkham Investment reported that the German government moved 8,853.5 BTC in total to several well-known exchanges and institutional deposit services. The recipients included Kraken, Cumberland, Flow Traders, Coinbase, and an address identified as bc1qu, likely linked to an institutional deposit or over-the-counter (OTC) service.</p> 
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   <p lang="en" dir="ltr">UPDATE: The German Government just sent another 3000 BTC ($176.26M) to Flow Traders.<br><br>Total moved today: 8853.5 BTC ($520.17M).<br><br>The German Government currently holds 15,110 BTC ($883.7M).<br><br>They now hold less than $1B of the Bitcoin originally seized from Movie2k. <a href="https://t.co/Fnv6nlZTv4">pic.twitter.com/Fnv6nlZTv4</a></p>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1810994652662657466?ref_src=twsrc%5Etfw">July 10, 2024</a>
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<p>Interestingly, after these large-scale transfers, the German government received 1,118 BTC, worth approximately $64.71 million, from various exchanges, including Kraken, Bitstamp, and Coinbase. </p> 
<p>This indicates that while the government is offloading a substantial amount of Bitcoin, it is also receiving significant amounts back from the market.</p> 
<p><strong>Evaluating the Holdings</strong></p> 
<p>Currently, the <a href="https://coinpedia.org/crypto-live-news/german-government-yet-again-moves-1300-btc-to-crypto-exchanges/">German government</a> holds a significant amount of Bitcoin, totaling 15,110 BTC, valued at around $883.7 million. However, this is less than the original amount seized from the Movie2k case. Despite recent sell-offs, this figure underscores the substantial stake the government still maintains in the cryptocurrency market.</p> 
<h2 class="wp-block-heading" id="bitcoin-technical-analysis">Bitcoin Technical Analysis</h2> 
<p>From a technical perspective, the daily chart shows Bitcoin remains above the 50-day and 100-day EMAs, signaling a bullish trend. <a href="https://coinpedia.org/price-analysis/bitcoin-eyes-62900-as-u-s-june-cpi-data-releases-this-week/">Key resistance levels </a>at $60,000, $62,500, and $63,200 could further boost bullish sentiment if breached, potentially pushing BTC toward $65,000.</p> 
<p>The Average Directional Index (ADX) stands at 41.10, indicating a strong trend, while the Fear &amp; Greed Index (FGI) is at 40, reflecting prevailing investor caution. Despite fears, there is cautious optimism among investors regarding Bitcoin’s future movements.</p> 
<p><strong>With Bitcoin’s future still uncertain, is it time to adjust your crypto strategy?</strong></p>

German Government’s Massive Bitcoin Transfers: What’s Going On?

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CoinPedia News

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