Bitcoin News on Nostr: German Government’s Bitcoin Dump Surpasses $195M As Selling Spree Persists. The ...

German Government’s Bitcoin Dump Surpasses $195M As Selling Spree Persists. The German government has recently begun selling millions of dollars worth of Bitcoin (BTC) from a confiscated wallet, further contributing to the lack of catalysts for a price recovery in the cryptocurrency market. The move comes as increased selling activity and unprecedented selling by long-term BTC whales have led to a sharp price correction, preventing Bitcoin from consolidating above $70,000 and retesting its previous all-time high. According to blockchain analysis platform Arkham, the German government has initiated the process of selling Bitcoin on cryptocurrency exchanges. During Thursday’s morning trading session, $65 million worth of BTC was sent to two likely exchange deposits, including Coinbase.