• Lookonchain reported the German government transferred 3,000 BTC out of its portfolio.
• 1,300 units of the transferred BTC went to three centralized exchanges.
• The recent crypto selloff has led to a 9.11% drop in the total crypto market cap.

The German government has reportedly moved a significant amount of Bitcoin from its holdings, raising questions about its investment strategy and potentially adding to recent downward pressure on the cryptocurrency’s price.

On-chain analytics platform Lookonchain revealed that 3,000 BTC, valued at $174 million, were transferred, with a significant portion distributed among major crypto exchanges Bitstamp, Coinbase, and Kraken. The latest transfer leaves the government with 40,359 Bitcoins, equivalent to $2.33 billion in its holdings.

Lookonchain’s latest report detailed the series of Bitcoin transfers linked to the German governm…

The post Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes appeared first on Coin Edition.

• Lookonchain reported the German government transferred 3,000 BTC out of its portfolio.
• 1,300 units of the transferred BTC went to three centralized exchanges.
• The recent crypto selloff has led to a 9.11% drop in the total crypto market cap.

The German government has reportedly moved a significant amount of Bitcoin from its holdings, raising questions about its investment strategy and potentially adding to recent downward pressure on the cryptocurrency’s price.

On-chain analytics platform Lookonchain revealed that 3,000 BTC, valued at $174 million, were transferred, with a significant portion distributed among major crypto exchanges Bitstamp, Coinbase, and Kraken. The latest transfer leaves the government with 40,359 Bitcoins, equivalent to $2.33 billion in its holdings.

Lookonchain’s latest report detailed the series of Bitcoin transfers linked to the German governm…

The post Bitcoin Price Plunge: German Government’s BTC Sell-Off Adds to Market Woes appeared first on Coin Edition.