Flow

Bitcoin

Impact

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/germanys-btc-sales-impact-bitcoin-price/" data-wpel-link="internal">Germany’s BTC Sales Impact Bitcoin Price</a> 
<a href="https://en.coin-turk.com/bitcoins-price-dynamics-and-market-predictions/" data-wpel-link="internal">Bitcoin</a> (BTC) price dropped to $54,800 during the article’s preparation and is now trading at $56,000. Volatility is extremely high. The main reason is Germany’s ongoing BTC sales. So, what triggered this drop in the last few hours? Here are the details. 
<h2 style="text-align: justify" id="why-is-bitcoin-dropping">Why Is Bitcoin Dropping?</h2> 
The German government has been selling 50,000 seized BTC in parts for a long time. Continuous transfers trigger on-chain alarms, significantly affecting <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a>‘ risk appetite negatively. The good <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> is that the recent institutional sales by the BKA, affiliated with the German government, have depleted half of the total reserves. 
At the time of writing, $79.9 million and $51.3 million worth of BTC were transferred on Coinbase and Bitstamp exchanges, respectively. After the recent transfers to market maker Flow Traders and exchanges, $1.35 billion worth of BTC is now ready for sale. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-368873 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/almanya-btc-satis.png" alt="" width="927" height="783"> 
After the remaining BTCs are sold, the short-term intense selling pressure in the markets may weaken. However, we should see details about the slow process of MTGOX refunds. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/germanys-btc-sales-impact-bitcoin-price/" data-wpel-link="internal">Germany’s BTC Sales Impact Bitcoin Price</a></h5>

Germany’s BTC Sales Impact Bitcoin Price

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