Crypto Daily – The German government has now sold all of its holdings – going from nearly 50,000 BTC to zero in a very short amount of time. Bitcoin has absorbed the impact and is continuing its recovery. The $BTC price is now at $58,700.
It’s all gone!
According to Arkham Intelligence, the German government sent 49,860 BTC to exchanges ($2.9 billion) and sold them over a 3-week period. After sending off its final tranche of Bitcoin, the government wallet received the sum of 0.0000321 BTC, worth $1.87, from an unknown benefactor.
Bitcoin recovery continues
With this particular overhang on Bitcoin done with, the $BTC price is continuing to recover, putting on 9.8% since the local bottom nine days ago. That almost 50,000 BTC from just one seller could be soaked up in such a fashion bears testament to the demand for BTC that must be in the market.
Bitcoin’s journey back
Source: TradingView
In the short time frame of the 4-hourly, the $BTC price…
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