Germany Completes Bitcoin Sell-Off Amid Market Turbulence and Mt. Gox Reimbursement Concerns

Germany completed its exit from Bitcoin holdings on July 12, as reported by Arkham Intelligence. The transaction involved transferring 3,846 Bitcoin to “Flow Traders and 139Po,” entities characterized by Arkham as likely institutional deposit or over-the-counter services. This marked the conclusion of a series of transactions where the German government had steadily sold off tens of thousands of Bitcoin over recent weeks, primarily sourced from an asset seizure. The substantial sell-off exerted pressure on the Bitcoin market, contributing to prices remaining below $60,000 and its 200-day exponential moving average. Despite Germany depleting its Bitcoin reserves, another impending factor affecting market