Jerome Powell

Bitcoin

Million

Arkham

Coin

<ul class="news-points">
 <li>German authorities aggressively sell 5,853 BTC worth $350 million in hours.</li>
 <li>Bitcoin’s market value drops to $58,667.97 amid the liquidation.</li>
 <li>Germany’s Bitcoin wallet now holds 18,110 BTC, potentially easing bearish pressure.</li>
</ul>
German authorities <a href="https://coinedition.com/germanys-bitcoin-whirlwind-1b-dump-followed-by-305-million-buyback/" rel="noopener noreferrer nofollow">resumed</a> selling Bitcoin on July 10, but this time more aggressively. <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="noopener noreferrer nofollow">Data</a> from Arkham Intelligence reveals nine transactions have offloaded 5,853.489 BTC, valued at approximately $350 million, within hours.
This latest round of liquidation is occurring through exchanges such as Kraken, which received 750 BTC; Coinbase, which received 500 BTC; and market maker Cumberland, which received 536.108 tokens. Concurrently, Flow Traders acquired 1,112.281 tokens, while OTC entity “139Po” received 2,250 Bitcoins from the German government.
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXc-kVAj3JRX_NlBWCqND9leWaw-TRAeG97DhtRMYvTqQi3_hLHQeBzcl4VA6zq4moa4SNauZM1k25VoZA8j0Nev8OS2XAWx7cOgatthG3wDDULgS71onIN2VQvu9NUv1rv_jmHMY5OS-oqble7SRWsgcYXl?key=esW3r2ySYYj_hRR8LiqPcQ" alt="">
</figure>
This renewed sale comes as the crypto market experiences a reprieve from the recent downturn, which saw Bitcoin plunge to around $53,000. Earlier today, Bitcoin reached a daily high of $59,416 <a href="https://coinedition.com/bitcoin-eyes-60k-as-powells-cautious-stance-on-inflation-boosts-market-confidence/" rel="noopener noreferrer nofollow">amidst remarks</a> by U.S. Fed chairman Jerome Powell regarding economic inflation.
However, as the German government moves Bitcoin for liquidation, BTC’s value has fallen to $58,667.97 at press tim…
The post <a href="https://coinedition.com/german-government-dumps-350-million-more-in-bitcoin-triggering-price-dip/" rel="noopener noreferrer nofollow">German Government Dumps $350 Million More in Bitcoin, Triggering Price Dip</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

German Government Dumps $350 Million More in Bitcoin, Triggering Price Dip

Coin Edition

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