BTC price today fell back to $57,000 after positive inflation data. This decline may reflect a deeper appetite for lows among crypto investors. The impact of transfers from Germany cannot be ignored. So, how much more assets are left to be sold?
Germany’s Remaining BTC Holdings
Bitcoin price has been falling for weeks amid sales by the German government’s BKA. We also learned that MTGOX refunds would begin, and the US conducted one of its Silkroad sales. Amid all this, Germany sold 50,000 BTC rapidly, triggering on-chain alarms.
The good news is that sales by the German government are nearing completion. At the time of writing, the BKA transferred 2,000 BTC to crypto market maker Flow Traders. Now, the BKA has only 7,925 BTC left.
The government’s sales are expected to end in a few days. Given the pace of selling 50,000 BTC, it is not expected to continue much longer. ETF channel volumes are strong, and traditional market investors are not overly concerned. Net inflows continue.
