I was not aware of this news before ...
A crypto wallet labeled “German Government (BKA)” by the crypto onchain analytics firm Arkham started moving Bitcoin on June 19, sparking curiosity among the community. The wallet movements have led many to believe the German government is selling its BTC holdings.
According to Arkham data, the crypto wallet has held nearly 50,000 Bitcoin (BTC) since February 2024, before moving nearly 6,500 BTC on June 19. ...
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I hope market won't go below $60k again but if it do then I might buy some alts not BTC but maybe alts. And maybe I buy BTC as well. What would you do?
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More:Thanks for the information, I also can't confirm if the BTC has been sold or not, but if they have been moved in Kraken and Bitstamp exchanges then the chances of them being sold are 99%. As otherwise they won't be moved there. Maybe they already have sold it or maybe are waiting for a better chance to sell them.
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AFAIK, actual selling has not been confirmed.
Things like this usually have a negative impact on the crypto market, especially at this time of year when many people are selling a lot more than they are buying. I wonder if we can expect the price to go below $60k again?
they exclude binance among the exchange to send. if this is an individual, he gotta be the worse trader of all in sending to the exchange that has less volume, which the reason for sending the to 3 exchanges.
they exclude binance among the exchange to send. if this is an individual, he gotta be the worse trader of all in sending to the exchange that has less volume, which the reason for sending the to 3 exchanges.
You never actually think twice before saying something and labeling others as stupid without bothering to check why, do you?
Things like this usually have a negative impact on the crypto market, especially at this time of year when many people are selling a lot more than they are buying. I wonder if we can expect the price to go below $60k again?
Well, the spot ETF market is already affecting the market a lot, as I believe the current market is moving with the ETF market's inflow or outflow. It's pretty much moving with the ETF market. But if negative news like this one gets published, of course, it will affect the market as well and we are already seeing the movement. But I am not worried about Germany selling their Bitcoins. I am worried about the Spot ETF market as Bitcoin market is started to rely on the ETF market movement. It's getting more centralized because of the ETF market. Let's see if we break the 60K support again.
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Mt. Gox is supposed to return 140,000 and if it does then those who will receive them will not hold as most of them will sell them in the current market price.
Those who were looking for cash as a payment allegedly already received it, so those who are waiting for BTC/BCH probably have a reason to keep their coins at least for a while. In addition, it seems to me that the payments will last for months and that it will not be possible to create pressure on the market.
Things like this usually have a negative impact on the crypto market, especially at this time of year when many people are selling a lot more than they are buying. I wonder if we can expect the price to go below $60k again?
What causes far more damage is the news, which by itself carries a bad vibe and obviously has an effect on the price in combination with other bad news.
This Mt Gox news is causing panic selling of Bitcoin in the market. After 2 months today, Bitcoin fell below $59K which was not expected. I was expecting selling pressure from the victims of the hack after they started receiving their Bitcoin.
AFAIK, actual selling has not been confirmed.Now it's confirmed haha, sorry I was late to reply to you, as I had so many pending replies to give other members it's hard to manage all of them, I have to bookmark each now I am replying to them as soon as possible.
Mt. Gox to Begin Repayments in July; BTC Slides Under $61K (https://www.coindesk.com/markets/2024/06/24/mt-gox-to-begin-bitcoin-bitcoin-cash-repayments-in-july/). Well! Bitcoin has shown some recovery today and is now trading above $61k. Next month when the repayment starts we may see Bitcoin going below $59k. Mt. Gox is supposed to return 140,000 and if it does then those who will receive them will not hold as most of them will sell them in the current market price.
In a surprising reversal, the German government, known for the recent large-scale Bitcoin sell-offs, has just bought back a significant amount of the BTC. Data from Arkham Intelligence reveals a purchase of 1,915 BTC, worth $111.5 million, from major exchanges Kraken, Bitstamp, and Coinbase. --- Amid the inflows and outflows, the government wallet now holds 40,526 BTC worth over $2.29 billion.
Now it's confirmedYes, it's confirmed and I'm quite sure they'll keep selling more of their Bitcoin holdings next month or maybe in this month.
It seems that the German government has discovered the benefits of crypto trading (if we can call it that). According to the information that appeared, Germany bought a little less than 2000 BTC, and with all the inflows and outflows, it seems that they now own about 40 000 BTC. The game continues...Germany seems to be enjoying and making good use of the power of the news media to increase the number of holdings. Another assumption, perhaps due to a suggestion from one of their MPs: https://cointelegraph.com/news/german-mp-urge-government-stop-selling-bitcoin
German lawmaker and Bitcoin activist Joana Cotar has urged the government to stop its “hasty” Bitcoin selling spree and adopt it as a “strategic reserve currency” to shield against risks in the traditional system.In fact, this advice had a good effect (if indeed thanks to that) in stopping the panic, but with large amounts of bitcoin still in the hands of institutions it could be another worry in the future where the same scenario could occur.
The game continues...Quote from: https://coinedition.com/germanys-surprise-111-million-bitcoin-buyback/In a surprising reversal, the German government, known for the recent large-scale Bitcoin sell-offs, has just bought back a significant amount of the BTC. Data from Arkham Intelligence reveals a purchase of 1,915 BTC, worth $111.5 million, from major exchanges Kraken, Bitstamp, and Coinbase. --- Amid the inflows and outflows, the government wallet now holds 40,526 BTC worth over $2.29 billion.
@bee, I wonder who even manages that BTC when their decisions are influenced by some activist who didn't remember to tell them before they decided on their summer crypto adventure.
@Stompix, you know how people are, as soon as they see that transactions are made from some publicly known address on CEXs, most of them immediately think that the coins are for sale - although if you send to CEXs, then your intentions are quite clear, unless you are playing a dirty game and want to a way to cause panic and crash the price.
I would still say that they messed up a bit, because they could have done it quickly and efficiently without affecting the price for days - sell everything in one day (if possible) and be done with it.
Well, as new info pops it seems that there was an agreement in the case of the MtGox coisn that they would be locked between 60-90 days in the accounts of the reimbursed victims after the account would be funded, so the clause between the German Police and the company doing this might also have some hidden paragraphs.
I'm starting to feel that those tacking the addresses and tweeting every time there is a move are doing more harm than the actual sale!
Yes, it's confirmed and I'm quite sure they'll keep selling more of their Bitcoin holdings next month or maybe in this month.I was just trying to be funny with the pmbug that he said before the dump and the real selling would start that it did not start and I replied when the dump occurred that yeah you are right. Haha. Well, I recently made a post on BTT, that they have left with around 13k BTC now and they will definitely sell them. And media is now focusing the word from Germany to Saxony because they said it was not the Germany that sold the BTC but it was the free state of Germany which had it,s own president.
They were doing it aggressively before but now the German government will do it by following a good strategy.
The market is still not recovered and we may see more FUD or selling pressure next month. I'm pretty sure they're already working on a good strategy to sell their remaining Bitcoin holdings.
Market has recovered to some extent but now we are going to see another distribution from FTX exchange which is of $16 billion dollars. I don't know yet what's the plan, I mean in which currencies they will distribute the funds, but I read somewhere that they will distribute in cash which will be a good thing otherwise no one can stop market to go below $50k
True, Bitcoin is getting stable right now settling at around $57K yet there can be more selling pressures ahead all because of the coming FTX distribution though I am not sure what can be the percentage of BTC to what they will release...and then MtGox has not been fully resolved yet...let's hope that all of these developments are already factored in to the current price so there will be no major impact anymore. There is no choice for now but to ride on the waves and just continue hoping that we can see a green island to land on. Things will hopefully get better at the right time and then we will see Bitcoin achieving a new ATH so we will all be smiling and excited again.Hope is all we can keep now but at the same time, we can use this information for taking the entry at the right time. I know they will not distribute the 16$ billion funds in cash, but they did gather all these funds from different types of assets. And those assets were not BTC so it's mean if they plan to distribute in BTC form. They first have to buy BTC and then have to distribute but if they will distribute in cash they have to give more than 112% of what people lost at that time.
but I read somewhere that they will distribute in cash which will be a good thing otherwise no one can stop market to go below $50kNot below $50k but way below it if they dump that $16B in Bitcoin. The market is slowly recovering and investors are getting interested once again but if something like that was announced then that could create more fear in the minds of the investors and they would sell at market rate because of that fear.
but I read somewhere that they will distribute in cash which will be a good thing otherwise no one can stop market to go below $50kNot below $50k but way below it if they dump that $16B in Bitcoin. The market is slowly recovering and investors are getting interested once again but if something like that was announced then that could create more fear in the minds of the investors and they would sell at market rate because of that fear.
Trumpsshootingis very likely to really move the matket bigly.
Trumpsshootingis very likely to really move the matket bigly.
Scratch....
I'm genuinely curious what would have happened if he had been killed.
Pretty sure the stock markets would have been -25% on the call and stopped trading if they had even allowed them to open on Monday.
Not so sure about crypto on this, we're already in a green pattern so I doubt too much movement.
Trumps shooting is very likely to really move the matket bigly.Trump is a very important person for crypto market because he's supporting it and surely we may see market moving upwards. Let's hope the things may go well in next few days to weeks because that Mt. Gox thing can still somehow cause a dump in the market.
Trumps shooting is very likely to really move the matket bigly.Trump is a very important person for crypto market because he's supporting it and surely we may see market moving upwards. Let's hope the things may go well in next few days to weeks because that Mt. Gox thing can still somehow cause a dump in the market.
German government will be on the corner looting their usd gotten from Bitcoin and they will be like the wish they have wait for this moment to get more profits but nobody expected this to happen.
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Trumps shooting is very likely to really move the matket bigly.You were right, considering the timeline of your post I think you were one of the early people who saw it coming before the pump in the market, that this incident would pump the market. Although I did not realize that this incident could cause such a pump I am 50% not sure if it's really a factor to consider because Germany also sold all of their reserves of 50k BTC on 13 July if I am not wrong.
Yesterday there was news that Germany started selling BTC that it seized from illegal activities (movie piracy website). It seems that this news has already affected the price of BTC, and in addition, the last 5 days have seen an outflow of about $900 billion from spot BTC ETFs.
Things like this usually have a negative impact on the crypto market, especially at this time of year when many people are selling a lot more than they are buying. I wonder if we can expect the price to go below $60k again?(https://www.talkimg.com/images/2024/06/21/h6nz2.png)Read more -> Germany Begins Selling Its Bitcoin Billions, Triggering Volatility Fears (https://decrypt.co/236329/germany-begins-selling-bitcoin-billions-volatility-fears)