Did the German Governments Recent Bitcoin Movement Impact the Price of BTC

The German government has made another move with Bitcoin. Did it have an impact on the price of BTC?
According to data from Arkham Intelligence, the German government transferred 400 Bitcoins valued at around $24.34 million to Coinbase and Kraken.
While Bitcoin has been experiencing rapid declines over the past few days, including significant sales by Bitcoin miners, BTC transfers by the German government, and the announcement of Mt.Gox Bitcoin refunds, it has been struggling to recover after falling below $59,000. The German government’s latest Bitcoin sale comes at a time when BTC is attempting to rebound.
Despite the German government’s recent Bitcoin transfers, which do not appear to have affected the BTC price, the cryptocurrency continues to be traded at $60,800 at the time of writing.
According to Arkham’s data, the German government still holds approximately $2.84 billion worth of BTC.
It is worth noting that the German government has been making Bitcoin transfers to various exchanges, including Coinbase and Kraken. Although these transfers do not appear to have had a significant impact on the BTC price, investors should be cautious.
Please note that this is not investment advice. If you are interested in investing in over 300 cryptocurrencies, you can sign up for a Binance exchange account with a 20% commission discount using this link.
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