2024

Bitcoin

Spot

<p>The German government has made another significant move in the cryptocurrency market by transferring 1,000 Bitcoin (valued at $55.8M) early morning today. Out of this, 500 BTC ($27.9 million) has been deposited to popular cryptocurrency exchanges Bitstamp and Kraken, according to a recent tweet by on-chain analytics provider SpotOnChain.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
   <p lang="en" dir="ltr">The German Government transferred out another 1,000 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> ($55.8M) 20 minutes ago, of which 500 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> ($27.9M) has been deposited to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitstamp</a> and <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Kraken</a>.<br><br>Since June 20, they have moved out a net amount of 11,033 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> ($669M) at an average price of $60,669.<br><br>Currently, the German… <a href="https://t.co/cDc6TJsUm7" target="_blank">https://t.co/cDc6TJsUm7</a> <a href="https://t.co/hmq1zcYcJn" target="_blank">pic.twitter.com/hmq1zcYcJn</a></p>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1810210677363261496?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 8, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="continual-large-scale-movements-and-their-market-repercussions">Continual Large-Scale Movements and Their Market Repercussions</h2> 
<p>Since June 20, the German government has transferred a net total of 11,033 BTC (worth $669 million) at an average price of $60,669 per BTC. These substantial transfers have noticeably <a href="https://blockchainreporter.net/german-governments-large-scale-bitcoin-transactions-impact-crypto-market/" data-type="post" data-id="87559">affected the market</a>, causing Bitcoin’s price to drop from $62,000 to $54,000 over the past week. On June 20, <a href="https://blockchainreporter.net/german-government-transfers-54-75-million-in-bitcoin/" data-type="post" data-id="87319">$54 million</a> in Bitcoin was transferred, and on July 4, another 3,000 BTC worth <a href="https://blockchainreporter.net/german-government-transfers-3000-btc-worth-174-million/" data-type="post" data-id="89355">$174 million</a> was moved. These movements have been largely blamed for the recent market downturn.</p> 
<p>The ongoing transfers have prompted concerns among investors and market watchers. Tron Founder Justin Sun has publicly <a href="https://blockchainreporter.net/justin-sun-offers-to-buy-german-governments-bitcoin-off-market/" data-type="post" data-id="89374">offered to purchase</a> all of the German government’s Bitcoin holdings off-chain to mitigate further negative impacts on the market. Despite his offer, the German government is yet to respond.</p> 
<h2 class="wp-block-heading" id="current-bitcoin-holdings">Current Bitcoin Holdings</h2> 
<p>As per <a href="https://spotonchain.com/" target="_blank" rel="noopener">SpotOnChain</a>, the German government still holds 38,826 BTC, valued at approximately $2.16 billion. The continued selling activity by such a large holder has raised questions about future market stability and potential strategies to manage the influence of large-scale Bitcoin transfers on market prices.</p> 
<p>With these significant holdings and ongoing transactions, the crypto market is closely watching the German government’s next moves, as further liquidations could continue to impact Bitcoin’s price and overall market sentiment.</p>

German Government’s Bitcoin Transfers Continue This Week Too, Another 1,000 BTC Transferred

İçindekiler

BlockchainReporter

8 Tem 2024 tarihli diğer yazılar

Ether ETF Countdown: SEC Delays Spark Debate, But Launch Still Imminent

Terra Luna Classic Staking Ratio Surges To 15% With Over 1T LUNC Staked

Halliday Launches Commerce Network Backed by a16z and #Hashed (8 Jul)

Bitcoin Regains Momentum After Crash

Politician Pepe (POLPEPE) Investor Generates 1,100% Profit, But Holds For 18,000% Surge As DOGE a...

Bitcoin, Ethereum, Dogecoin Slightly Down, But Short Liquidations Peak And A Bullish Signal Is 'W...

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!