Bitcoin continues to surprise, and recent market events prove it can be as volatile as it is stable.
After all the market turbulence, a saga has come to an end.
The German government sold all its Bitcoin holdings, which were worth a total of $2.9 billion.
According to Arkham Intelligence, Germany’s wallet, designated as “BKA” has transferred its remaining 3,094 BTC to an over-the-counter selling service, effectively depleting all of its holdings.
BREAKING: The German Government is now out of Bitcoin.
The German Government just sent 3846.05 BTC ($223.81M) to Flow Traders and 139Po (likely institutional deposit/OTC service).
The German Government has 0 BTC ($0.00M) remaining. pic.twitter.com/R2vfylR1b2
— Arkham (@ArkhamIntel) July 12, 2024
At the time of writing, Bitcoin is trading at $58,230, reporting a minimum 1% increase in the last 24 hours.
Bitcoin is once again mirroring global liquidity trends—and that could have major implications in the days ahead.
The crypto market is showing signs of cautious optimism. While prices remain elevated, sentiment indicators and trading activity suggest investors are stepping back to reassess risks rather than diving in further.
Citigroup analysts say the key to Bitcoin’s future isn’t mining cycles or halving math—it’s ETF inflows.
Bitcoin may be entering a typical summer correction phase, according to a July 25 report by crypto financial services firm Matrixport.