German Government Wallet Prepares to Sell $354 Million in Bitcoin Amid Ongoing Market Movements

The wallet labeled “German Government (BKA)” on Arkham Intelligence has recently added 6,000 more Bitcoin, valued at $354 million, in preparation for another round of BTC sell-offs. So far, 5,853.409 Bitcoin have been transferred to addresses associated with exchanges like Coinbase, Kraken, Flow Traders, and other unidentified or unconfirmed addresses. The next phase involves offloading approximately $342 million worth of BTC. This follows the previous distribution of 3,100 BTC, valued at $178 million at the time, on July 9. Additionally, the wallet withdrew 1,700 BTC, worth $91.78 million, from Bitstamp, suggesting difficulties in selling them on the exchange. As of

Source: CryptoIntelligence