Germany’s selling pressure threatens Bitcoin’s $60K
Share link:In this post: Germany has offloaded 900 more BTC, destabilizing Bitcoin further as it reels from Mt. Gox FUD. Bitcoin’s trading activity has increased, but bearish sentiment is prevailing.Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Germany has put a massive amount of Bitcoin on the market, causing a stir in the community. The German Government’s (BKA) cryptocurrency wallet unloaded more than $54 million worth of Bitcoin in just one day. On June 25, the wallet sold 900 BTC in three transactions. This selling pressure could drag Bitcoin’s price below $60,000.
The first two transactions involved 200 BTC each, and they were sent to Coinbase and Kraken. The third and largest transaction, worth 500 BTC (over $30 million), went to a mysterious wallet labeled “139Po.” This wallet has interacted with the German government before, so it’s suspicious.
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