• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

German Government Sells Remaining Bitcoin, Setting Stage for Potential BTC Rally

Crypto Newsmart by Crypto Newsmart
11 months ago
in Bitcoin, Crypto Updates
Reading Time: 1 mins read
26
VIEWS
Share on Facebook
German Government Sells Remaining Bitcoin, Setting Stage for Potential BTC Rally

The German government has successfully liquidated its remaining Bitcoin (BTC) holdings, moving the final 3,846 BTC to addresses associated with Flow Traders and an over-the-counter (OTC) service. This concludes a 23-day process of selling nearly 50,000 BTC seized from the piracy platform Movie2k. On-chain data from Arkham Intelligence confirms that the government’s Bitcoin wallet is now empty.

The sale of these BTC holdings, linked to the settlement with Mt. Gox’s creditors, is considered a major factor in the recent decline in Bitcoin prices. Over the past two weeks, BTC dropped from around $63,000 to approximately $54,000. However, Bitcoin has since rebounded to the $58,000 range and is approaching key resistance levels.

Analysts suggest that with the reduction in the BTC supply overhang, Bitcoin could regain upward momentum. Trader Rekt Capital notes that Bitcoin needs to close the day above $58,350 and achieve a weekly close above $60,600 to initiate a significant rally.

Bitcoin is currently testing the downtrend line that has suppressed its price for the past month and a half. This marks the third attempt in three days and the fourth this month, with previous efforts resulting in strong rejections.

Trader Altcoin Sherpa highlights the possibility of a bounce at the current price level, potentially propelling Bitcoin back to the $63,000 area if successful.

As Bitcoin challenges these resistance levels, the cryptocurrency market is closely monitoring its next moves for signs of a sustained rally.

 

Related Posts

Stripe holds early talks with banks to explore stablecoin integration
Crypto Updates

Stripe holds early talks with banks to explore stablecoin integration

30 May 2025
Trump’s Tariff Threats Have Derailed Bitcoin’s Bullish Momentum: Santiment
Crypto Updates

Trump’s Tariff Threats Have Derailed Bitcoin’s Bullish Momentum: Santiment

27 May 2025
Solana Price Prediction: SOL Rose to 6.40— Can This L1 Outperform as ETH and BTC Gain Ground?
Crypto Updates

Solana Price Prediction: SOL Rose to $176.40— Can This L1 Outperform as ETH and BTC Gain Ground?

24 May 2025
Volatility Shares to debut first-ever XRP futures ETF tomorrow
Crypto Updates

Volatility Shares to debut first-ever XRP futures ETF tomorrow

21 May 2025
‘Digital Capitalist’ Has Hot Bitcoin Stock Tip For Q2 Investors
Crypto Updates

‘Digital Capitalist’ Has Hot Bitcoin Stock Tip For Q2 Investors

18 May 2025
Ukraine Drafts Bill to Add Bitcoin to War Chest – Is a National Reserve Next?
Crypto Updates

Ukraine Drafts Bill to Add Bitcoin to War Chest – Is a National Reserve Next?

15 May 2025

[convertful id="153816"]

by CurrencyRate.Today
  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Preferences
{title} {title} {title}