2024

Bitcoin

Arkham

Oasys

<ul> 
 <li>German government sells 8,853 Bitcoins, trimming holdings amid market impact.</li> 
 <li>Bitcoin stabilizes at $58,542 after government’s significant sell-off.</li> 
</ul> 
The German government’s recent move to sell off substantial Bitcoin holdings has made big waves in the cryptocurrency market. According to Arkham Intelligence <a href="https://x.com/ArkhamIntel">data</a>, approximately 8,853 Bitcoins were transferred out of government wallets today, reducing their total holdings to 15,110 Bitcoins valued at $887 million.&nbsp; 
This follows a series of large-scale transactions earlier in the day, including transfers to major exchanges like <a href="https://www.kraken.com/">Kraken</a> and Coinbase. 
<div align="center">
 <blockquote class="twitter-tweet">
 The German Government lost its “Bitcoin billionaire” status today. In the past hour, they have sent another 2000 BTC ($117.3M) to Coinbase, Kraken and 139Po. They now have 13,360 BTC ($784.96M) remaining – that’s 26.8% of the Bitcoin originally seized from Movie2k. <a href="https://t.co/ZbA2wuzQhi">pic.twitter.com/ZbA2wuzQhi</a>— Arkham (@ArkhamIntel) <a href="https://twitter.com/ArkhamIntel/status/1811003909483147671?ref_src=twsrc%5Etfw">July 10, 2024</a>
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div> 
These actions mark one of the largest single-day sell-offs by a government entity, contributing to recent volatility that saw Bitcoin prices plummet to a four-month low earlier this week. Despite initial concerns about market sentiment, Bitcoin has since stabilized, currently trading 1.41% higher at $58,082 with a market cap of $1.1154 trillion. 
Analysts suggest that while such significant sales can impact short-term <a href="https://thenewscrypto.com/us-bitcoin-etfs-see-295m-inflow-as-investors-capitalize-on-price-decline/">prices</a>, institutional interest, particularly through spot Bitcoin ETFs. It has mitigated some of the selling pressure. In the past three trading days alone, these <a href="https://thenewscrypto.com/us-spot-bitcoin-etfs-see-continued-inflows-as-investors-buy-the-dip/">ETFs</a> attracted $645 million in inflows. It indicates a resilient institutional appetite amidst market fluctuations. 
Highlighted News Of The Day 
<a href="https://thenewscrypto.com/oasys-and-edia-team-up-to-bring-retro-games-ip-to-web3/">Oasys and Edia Team Up to Bring Retro Games IP to Web3</a>

Is Germany’s Bitcoin Sell-Off a Sign Of Market Shakeup?

TheNewsCrypto

Inne artykuły opublikowane 10 lip 2024

German Bitcoin Sell-Off Sees 10,853 BTC Transferred In 12 Hours

Block Completes First Order of Mining Chips to Core Scientific

Long-Term Crypto Picks: 5 Upcoming Coins Set to Soar in Value

Notcoin (NOT) Price Prediction for July 10

Bybit CEO Ben Zhou Highlights Crypto's Role in Shaping Future Finance at Zurich's Point Zero Foru...

Ethereum Price Forecast: Dwindling Open Interest Hints Sluggish Climb To $4,000

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!