The German Government has transferred another 1,000 Bitcoin, worth $55.8 million, according to data from blockchain intelligence firm Arkham.
The German government has once again transferred a notable 1,000 BTC worth $55.8 million to crypto exchanges and unmarked wallets.
Amid this ongoing market downturn, the German government has once again transferred a notable 1,000 BTC worth $55.8 million, according to data from blockchain intelligence firm Arkham., out of the 1,000 BTC transferred by the German Government, a significant 500 BTC was sent to cryptocurrency exchanges including Bitstamp and Coinbase, worth $27.9 million.
Since the 19th of June, the government has transferred significant BTC to different exchanges and the same wallet address.This continuous transfer of BTC by the government of Germany has badly impacted the cryptocurrency market. Besides this breakdown, BTC was moving below the 200 Exponential Moving Average on a daily time frame, which signaled bearishness.There is thus a high possibility that BTC will reach the $52,800 level, which serves as its next support.
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