The German government has sold off its final Bitcoin holdings, completing a series of transactions that significantly impacted the cryptocurrency market. Over the last three weeks, Germany offloaded approximately 50,000 Bitcoins, which were acquired through asset seizures. This large-scale sell-off contributed to keeping Bitcoin prices below the $60,000 mark and its 200-day exponential moving average. The final sale occurred on July 12, with 3,093 Bitcoins transferred to a wallet ending in 'ybVu'. Despite the market downturn, institutional investors have been buying the dip, with U.S. ETFs seeing $295 million in inflows during the week of July 8. However, ongoing selling pressures from the Mt. Gox reimbursement plan may continue to suppress Bitcoin prices in the near future.
The German government has sold off its final Bitcoin holdings, completing a series of transactions that significantly impacted the cryptocurrency market. Over the last three weeks, Germany offloaded approximately 50,000 Bitcoins, which were acquired through asset seizures. This large-scale sell-off contributed to keeping Bitcoin prices below the $60,000 mark and its 200-day exponential moving average. The final sale occurred on July 12, with 3,093 Bitcoins transferred to a wallet ending in 'ybVu'. Despite the market downturn, institutional investors have been buying the dip, with U.S. ETFs seeing $295 million in inflows during the week of July 8. However, ongoing selling pressures from the Mt. Gox reimbursement plan may continue to suppress Bitcoin prices in the near future.