tl;dr
The German government has continued selling Bitcoin, transferring 595 BTC to major cryptocurrency exchanges, totaling over 2,000 BTC in recent days. The sales, marked as "German Government," amount to approximately $46 million and have appreciated Germany's Bitcoin holdings to $2.76 billion, includi...
GERMAN GOVERNMENT’S BITCOIN SELLOFF CONTINUES: German government sells 595 BTC, totaling over 2,000 BTC recently, amid market tensions.
MARKET IMPACT AND CURRENT BITCOIN STATUS: Bitcoin price resilient at $61,286.22, with $23.8 billion in 24-hour trading volume and $1.2 trillion market capitalization.
The German government has continued selling Bitcoin, transferring 595 BTC to major cryptocurrency exchanges, totaling over 2,000 BTC in recent days. The sales, marked as "German Government," amount to approximately $46 million and have appreciated Germany's Bitcoin holdings to $2.76 billion, including $1.1 billion in unrealized profit. Although these sales may have impacted market volatility, Bitcoin's price remains resilient, currently standing at $61,286.22 with a market capitalization of approximately $1.2 trillion. The German government has continued its Bitcoin selloff, transferring another 595 BTC to major cryptocurrency exchanges. This move is part of a series of recent sell-offs from an address associated with the German authorities. In total, over 2,000 BTC have been sold from this address in the past few days, occurring amid current market tensions. The persistent nature of these sales suggests that the German government may not be finished liquidating its Bitcoin holdings.
PeckShield, a blockchain security company, reported that the address marked as “German Government” moved 750 BTC (valued at approximately $46 million) in a recent transaction. The bulk of this transfer, 595 BTC worth about $36.5 million, was distributed among major exchanges. Bitstamp and Kraken each received 125 BTC, while Flow Traders, a global trading firm, received the largest portion of 345 BTC. Kraken appears to be a preferred exchange for these transfers, as it also received 200 BTC in yesterday’s 400 BTC sell-off.
Despite these sell-offs, Germany’s Bitcoin holdings have significantly appreciated, now valued at $2.76 billion, including $1.1 billion in unrealized profit. While some analysts have pointed to these government sales as a factor in recent market volatility, the overall impact remains uncertain due to other influential market forces.
Bitcoin’s price has shown resilience, recently surging above $62,000 before settling just above $61,000. At the time of reporting, Bitcoin’s live price stands at $61,286.22, with a 24-hour trading volume of $23.8 billion. The open interest of Bitcoin has increased by 0.18% and a valuation of $18.1 Billion. Bitcoins relative strength index (RSI) has been a little below the 50 RSI zone.As it currently stands at the 48.6 level, a little more bullish presence will push it above 50 RSI level. The cryptocurrency has seen a slight 0.1% increase in the last 24 hours, trading between $62,438.10 and $61,228.09. Bitcoin’s current market capitalization is approximately $1.2 trillion.
More about ZEEKR Intelligent Technology Holding Limited
ZEEKR Intelligent Technology Holding Limited
ZEEKR Intelligent Technology Holding Limited, an investment holding company, engages in the research and development, production, commercialization, and sale of electric vehicles and batteries.
Industry: Technology
Sector: General
Support Levels: None
Resistance Levels: None
Bullish Trend: 0
Bearish Trend: 0
RSI: 0
Moving Averages: None
Breakouts: 0
Head and Shoulders Pattern: 0
Bollinger Bands: 0
More about Rush Street Interactive Inc
Rush Street Interactive Inc Summary
Rush Street Interactive, Inc. is an online casino and sports betting company in the United States and Latin America. The company is headquartered in Chicago, Illinois.
Industry: TRADE & SERVICES
Sector: SERVICES-MISCELLANEOUS
Sub-Sector: AMUSEMENT & RECREATION
Market Cap: 2095337000
Dividend Yield: None
EPS: None
P/E Ratio: -0.17
Price/Earnings to Growth Ratio: 10.48
Price/Book Ratio: -0.0158
Volume: 746228000
Stock Price: 10.03
Dividend: 0
Yield: 0.888