The German government transferred another 2,700 Bitcoins (BTC), worth about $154.6 million, on Friday afternoon (12th) Taiwan time. Some of the Bitcoins were transferred to exchanges such as Coinbase, Bitstamp, and Kraken. Currently, the German government’s Bitcoin wallet still holds 6,394 BTC (worth $365 million), accounting for approximately 13% of the pre-sale quantity.
Source:
Lookonchain
The encrypted cryptocurrency wallet labeled as “German Government (BKA)” has transferred billions of dollars’ worth of Bitcoin since June 19th. Arkham, a chain intelligence company, pointed out earlier today that the wallet sent 10,620 BTC (worth $615 million) to Coinbase, Bitstamp, Kraken, market maker Flow Traders, and two anonymous addresses (possibly belonging to institutional deposit or over-the-counter trading service providers) yesterday. After the transaction, the wallet was left with only 4,925 BTC, but some of the funds were soon transferred back to the German government’s wallet.
After the transfer this afternoon, the German government’s wallet currently holds only 6,394 BTC, worth $365 million.
Fear and Greed Index drops to “Fear” zone
The German government’s sell-off and concerns about the repayment of creditors by the Mt. Gox exchange may be the reasons for the recent significant drop in Bitcoin price. According to data from CoinGlass, an encrypted derivative data analysis platform, the Fear and Greed Index in the Bitcoin market has fallen into the “Fear” zone.
The Fear and Greed Index measures the current sentiment in the Bitcoin market. CoinGlass explains that when the index reaches “Extreme Fear,” it indicates that investors are overly worried, which may present a buying opportunity.
Source:
CoinGlass
As of the deadline, the trading price of Bitcoin was $57,070, with a decrease of approximately 1.7% in the past 24 hours and a decrease of 16% in the past month.
