{"id":33798,"date":"2024-07-08T16:43:32","date_gmt":"2024-07-08T16:43:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-retreats-as-german-government-selling-intensifies\/"},"modified":"2024-07-08T16:43:32","modified_gmt":"2024-07-08T16:43:32","slug":"bitcoin-retreats-as-german-government-selling-intensifies","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-retreats-as-german-government-selling-intensifies\/","title":{"rendered":"Bitcoin retreats as German government selling intensifies"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/crypto-btc-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/crypto-btc-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/crypto-btc-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2024\/03\/crypto-btc-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li><span style=\"font-weight: 400\">Bitcoin (BTC) price fell to under $56,000 as the German government sold more BTC<\/span><\/li>\n<li><span style=\"font-weight: 400\">On-chain data shows Germany sent more than 16,000 BTC to exchanges on Monday \u2013 the largest transfers in a single day.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin price<\/a> fell below $56,000 again on Monday, dropping by about 2% at the time of writing as <a href=\"https:\/\/coinjournal.net\/news\/tag\/germany\/\">Germany<\/a> took its BTC selling spree to a new level.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Per on-chain data tracking the <a href=\"https:\/\/platform.arkhamintelligence.com\/explorer\/entity\/germany\" target=\"_blank\" rel=\"noopener\">Bitcoin held by the German government<\/a>, Monday saw more than 16,000 BTC sent to crypto exchanges \u2013 the largest such dump by the government-controlled wallet in a single day.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The selling intensified amid transfers of 2,700 BTC, 5,200 BTC and 8,100 BTC in quick succession over a two hour period.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cThe German Government sent another 5200 BTC ($297.3M) to Kraken, Bitstamp, Coinbase and 139Po right after we posted this tweet. That makes this the biggest day for them so far \u2013 over 16,000 BTC in total,\u201d the Arkham team <a href=\"https:\/\/x.com\/ArkhamIntel\/status\/1810331451348386106\">posted<\/a> on X.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Bitcoin price dips amid sell-off<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Bitcoin reaction to the selling, which has persisted over the last few weeks, saw Bitcoin price dip from intraday highs of $57,877 to around $55,130.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Germany seized 50,000 bitcoin from Movie2k earlier this year. Over the last few days, it has accelerated its selling to see the total holdings reduce rapidly to 23,787 BTC at the time of writing. The bitcoin\u2019s value reached over $3.6 billion when BTC price skyrocketed to it\u2019s all-time high in March.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, with more than half sold and BTC price hovering around $55.8k, the total value of the BTC has dropped to $1.34 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Bitcoin price has declined more than 10% in the past week.<\/span><\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-retreats-as-german-government-selling-intensifies\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin (BTC) price fell to under $56,000 as the German government sold more BTC On-chain data shows Germany sent more than 16,000 BTC to exchanges on Monday \u2013 the largest transfers in a single day. Bitcoin price fell below $56,000 again [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":33799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33798"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33798"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33799"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}