Bitcoin

Arkham

Coin

<ul class="news-points"> 
 <li>Bitcoin halted its recent rebound amid the continued German government’s selloff.</li> 
 <li>The German government transferred 700 BTC to an unidentified address on Sunday.</li> 
 <li>BTC has reclaimed significant support at $56,500.</li> 
</ul> 
Bitcoin halted a potential rebound in the early hours of Thursday as onchain trackers spotted another significant BTC transfer by the German government. <a href="https://platform.arkhamintelligence.com/explorer/entity/germany" target="_blank" rel="nofollow">Data</a> from Arkham Intelligence shows the government‌ transferred 700 BTC, or roughly $40.55 million, to the unmarked address 139PoP…H7ybVu in the early hours of Sunday. 
Crypto users suspect the address might belong to an OTC service or an institution. The latest transfer joins the list of significant daily BTC transfers by the German government since last week. Crypto trackers have linked most of the previous transfers to centralized exchanges, coinciding with the recent crypto crash that saw the flagship crypto experience its most significant pullback since the last Bitcoin halving. 
Meanwhile, Bitcoin staged a remarked comeback after last Friday’s price drop, with the pioneer crypto forming a classic downtrend rejection candle on the daily chart, according to data from <a href="https://www.tradingview.com/x/xLuckOPC/" target="_blank">TradingView</a>. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd08Eyu1a6P98g6Ux-MyQfycvOO2Etjib0plVuIt811p7lKV3ij93OLtGX9fxjtGBj_QMalmA4KZJy_V74xvh9sqQYDrUDWm54kWuCnlXoqLDoA-uqUe8Vf17mCBu32mrac-Mf9xB_iBPa94DwGWofaO4w?key=7E2Q51zhafjW_LwpVfyFmQ" alt="">
 <figcaption class="wp-element-caption">
 BTCUSD …
 </figcaption>
</figure>
The post <a href="https://coinedition.com/german-government-sells-700-btc-halts-bitcoins-rebound/">German Government Sells 700 BTC, Halts Bitcoins Rebound</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

German Government Sells 700 BTC, Halts Bitcoins Rebound

Coin Edition

Other articles published on Jul 7, 2024

Bitcoin ETFs See $143.1M Inflow as Bitcoin Price Dips

MoonBag Price at 0.0003– Raised Over $3.3 Million During Presale While Competitors Like Injective...

South Korean Crypto Transaction Monitoring System Set to Revolutionize Market

Tezos (XTZ) Price At Yearly Lows: Has XTZ Bottomed Yet

Qubetics Whitelist Sparks Major Interest as Ondo and SingularityNet Stir Curiosity

Non-Playable Coin (NPC) Regains Support: Another Buying In Sight

Join our free newsletter for daily crypto updates!