Breaking: German Govt Moves Another 595 BTC to Crypto Exchanges
Highlights
- German government transfers 595 BTC ($36.5 million) to crypto exchanges.
- Total Bitcoin sold by German authorities exceeds 2,000 BTC in recent days.
- Bitcoin price holds above $61,000, with market cap at $1.2 trillion.
The German government has continued its Bitcoin selloff, transferring another 595 BTC to major cryptocurrency exchanges. This move is part of a series of recent sell-offs from an address associated with the German authorities.
In total, over 2,000 BTC have been sold from this address in the past few days, occurring amid current market tensions. The persistent nature of these sales suggests that the German government may not be finished liquidating its Bitcoin holdings.
German Government’s Bitcoin Selloff Continues
PeckShield, a blockchain security company, reported that the address marked as “German Government” moved 750 BTC (valued at approximately $46 million) in a recent transaction. The bulk of this transfer, 595 BTC worth about $36.5 million, was distributed among major exchanges.
Bitstamp and Kraken each received 125 BTC, while Flow Traders, a global trading firm, received the largest portion of 345 BTC. Kraken appears to be a preferred exchange for these transfers, as it also received 200 BTC in yesterday’s 400 BTC sell-off.
Despite these sell-offs, Germany’s Bitcoin holdings have significantly appreciated, now valued at $2.76 billion, including $1.1 billion in unrealized profit. While some analysts have pointed to these government sales as a factor in recent market volatility, the overall impact remains uncertain due to other influential market forces.
Also Read: XRP Price Defies Market Trend As Whale Dumps 52M Coins, What’s Next?
Market Impact and Current Bitcoin Status
Bitcoin’s price has shown resilience, recently surging above $62,000 before settling just above $61,000. At the time of reporting, Bitcoin’s live price stands at $61,286.22, with a 24-hour trading volume of $23.8 billion. The open interest of Bitcoin has increased by 0.18% and a valuation of $18.1 Billion.
Bitcoins relative strength index (RSI) has been a little below the 50 RSI zone.As it currently stands at the 48.6 level, a little more bullish presence will push it above 50 RSI level. The cryptocurrency has seen a slight 0.1% increase in the last 24 hours, trading between $62,438.10 and $61,228.09. Bitcoin’s current market capitalization is approximately $1.2 trillion.
Also Read: Binance US Announces Cessation Of Operations In Washington, Here’s Why
- Analyst Eyes Solana ATH as 21Shares’ SOL-Focused Jupiter ETP Launches on Swiss Exchange
- Experts Predict Big ETH Rally on Bullish Options, Whales Signal Post-False Break
- US Shutdown: Bitcoin, Gold, and Silver Rally as Govt. Shutdown Odds Jump to 85% on Polymarket
- SEC Halts Trading In Solana Treasury Stock QMMM After Share Price Surges 959%- Market Manipulation?
- BREAKING: BlackRock Amends Bitcoin ETF (IBIT), Ethereum ETF (ETHA) Amid New Milestone
- Ethereum Price Forecast as Institutional and Whale Accumulation Fuel Reversal Setup
- Dogecoin Price Prediction – Chart Set-Up Highlights Perfect Buying Opportunity With Outflows Backing $0.45
- Bitcoin Price Set to Rebound Ahead of US Government Shutdown, NFP Data
- XRP Price Prediction: How XRP Could React After October 2025 SEC ETF Decisions
- Aster Price Prediction as US President Adds $110M Worth of Tokens to His Portfolio
- Pepe Coin Price Bounce Likely as Support Zone Aligns With Rising Social Activity
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
