The German government has sold 900 Bitcoin, worth over $54 million, in three transactions. This move could increase selling pressure, potentially pushing Bitcoin's price below the critical $60,000 mark.
A “German Government ” labeled cryptocurrency wallet has sold over $54 million worth of Bitcoin.) in three individual transactions on June 25.
The first transaction worth 200 BTC was sent to the Coinbase exchange, while the second 200 BTC transfer was sent to the Kraken exchange. However, a third transaction, worth 500 BTC, or over $30 million, was sent to wallet “139Po,” which remained unknown, according to on-chain intelligence providerWhile wallet"139Po,” remains unknown, it is not the first time that the German government has interacted with it. The German government previously sent 800 BTC to the address on June 20 and another 500 BTC on June 19, just six days ago.
Following today’s transfers, the wallet still holds 46,359 Bitcoin, according to Arkham Intelligence.Over $122M Bitcoin longs liquidated as BTC falls below $61KThe government-labeled wallet, which holds over $2.8 billion worth of BTC, could introduce significant selling pressure that couldBitcoin price has been in a downtrend, falling 11% on the monthly chart, and over 7% on the weekly, trading just above $61,000, as of 9:40 a.m.
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