German Govt is out of Bitcoin Now
The last week was not good for the Bitcoin and crypto market because the German Government has been selling Bitcoin continuously. It's a decent large space where we can't influence people to do anything so if they want to sell they will be able to do and if they want to hold then again it is their core depending upon what they want to do.
The community was worried because they were expecting that the price would drop a lot. After all, the German Government was selling a large quantity of bitcoin. There was certainly a drop in the price but it was not big and it's a good sign that the Bitcoin market is so big that it can manage a bigger quantity as well in the market sell. The drop was not so big that could negatively affect the market and we should be happy that yes we have come a long way in this Bitcoin market.
Most of the Bitcoin quantity that the German government has sold is purchased by blackrock etf and a big chunk of Bitcoin has been absorbed by etf market. We need to understand how ETF is playing in the market and if this segment can absorb such a big quantity of selling then things are going to be even bigger once more institutions join the ETF race. With Ethereum ETF which is upcoming shortly is also going to bring more money in flow and more strength to the market which will be able to absorb big sulphur ethereum as well.
The German government has sold all its bitcoin holdings, transferring the last batch of 3,846.05 BTC, valued at $223.81 million, to Flow Traders and 139Po, likely for institutional deposit or OTC services
The German government has sold all the bitcoins they were holding and they have made a great amount of money undoubtedly but they will not be able to buy such a big quantity in future because prices will increase. They purchased Bitcoin when it was undervalued but the opportunity they have already availed and maybe in future they will regret the selling decision for 100% of Bitcoin which they did in the 2024 year.
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This is a good news for crypto lovers. Hopefully now market will be bullish... Thanks for update
Great update you have shared which helps understand the drop in the market but ofcourse I know time is coming when Bitcoin won't be affected much from such stuffs.
The German government will surely regret it. And thanks to ETF. Now it is time to recover :)