{"id":51203,"date":"2024-07-09T09:34:35","date_gmt":"2024-07-09T09:34:35","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/german-government-prepares-next-276m-btc-selloff"},"modified":"2024-07-10T03:24:48","modified_gmt":"2024-07-10T03:24:48","slug":"german-govt-prepares-for-next-276m-btc-sell-off","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51203","title":{"rendered":"German gov\u2019t prepares for next $276M BTC sell-off"},"content":{"rendered":"

<\/p>\n

The German government has continued its Bitcoin sell-off after sending roughly 3,100 BTC worth around $178 million in the span of an hour on July 9.<\/p>\n

At the same time, the government also withdrew roughly 1,700 Bitcoin\u00a0(BTC) worth around $91.78 million from Bitstamp, recouping BTC holdings from the exchange.<\/p>\n

At the time of writing, the German government has also shifted a further 3,107 BTC out of its main holdings, likely preparing for a further imminent sell-off.<\/p>\n

The main government address currently holds around 26,000 BTC worth $1.5 billion, while the address used to off-load holdings currently holds 4,800 BTC worth $276.61 million.<\/p>\n

\"\"
Arkham Intelligence transactional data on the tracked address for the German government. Source: Arkham Intelligence<\/em><\/figcaption><\/figure>\n

German government sell-off continues<\/h2>\n

Since 7:30 am UTC on July 9, there has been a total outflow of 3,100 BTC, of which 2,500 were sent to an unknown B2C2 Group, 400 BTC to centralized exchange Kraken, and the remaining 200 to an unknown wallet.<\/p>\n

The German government sold a further $900 million worth of BTC on July 8, suggesting plans to continue steadily selling off its remaining $1.5 billion in Bitcoin holdings.<\/p>\n

That same 16,309 BTC sold is now worth over $930 million despite the mass sell-off, suggesting that buyers are still confident about buying BTC in this price range.<\/p>\n

Economic policy impact<\/h2>\n

Wall Street traders expect a 72% chance of the US Federal Reserve cutting interest rates in September, so the lower interest rate could help boost investment in BTC.<\/p>\n

This macroeconomic trend tends to have a marked impact on assets like BTC because it is still seen as a risk-on asset, unlike assets like gold, which liquidity flows into during geopolitical instability.<\/p>\n

Coinciding with the BTC sell-off, the reduction in BTC miner activity in operations and reserve sell-offs suggests that the market sentiment might be nearing its bottom.<\/p>\n

According to Bitfinex analysts, July 6 and 7 market data evidenced this local bottom despite Mt. Gox starting its BTC and Bitcoin Cash (BCH) repayments.<\/p>\n

BTC could be ready to rebound<\/h2>\n

Despite the BTC sell-offs related to the German government and Mt. Gox repayments to creditors, several indicators suggest BTC is ready to bounce back.<\/p>\n

BTC reached its lowest point since late February, touching $53,550 before reversing to current highs of $57,600.<\/p>\n

However, the relative strength index indicator showed a growing divergence between the fall in price and the rise in RSI value, suggesting weakening sell pressure.<\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

*********************************<\/p>\n

If one of the paying programs on our Monitor appeals to you, please support EmilyNews<\/em> by registering for it on our website. Thanks very very much!<\/p>\n

EN web Support Chat<\/strong> | Hyips and Crypto questions \u2013 HyipChatEN<\/a><\/strong><\/p>\n

Telegram Chat for Crypto and Hyip reports: @HyipChatEN<\/a><\/strong><\/p>\n

*********************************<\/p>\n

Be the first to get most important HYIP news everyday!
\nSimply Follow EN Facebook<\/strong><\/a>, EN Telegram<\/strong><\/a>, EN Twitter<\/strong><\/a>
\nor Subscribe to EN Feedburner<\/a><\/strong> and submit your email address!<\/p>\n

If you like this article and want to support EN \u2013 please share it by using at least few of social media buttons below. Thanks and See you tomorrow!<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The German government has continued its Bitcoin sell-off after sending roughly 3,100 BTC worth around $178 million in the span of an hour on July 9. At the same time, the government also withdrew roughly … German gov\u2019t prepares for next $276M BTC sell-off<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51206,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[],"class_list":["post-51203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","exalt-entry"],"yoast_head":"\nGerman gov\u2019t prepares for next $276M BTC sell-off - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51203\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"German gov\u2019t prepares for next $276M BTC sell-off - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"The German government has continued its Bitcoin sell-off after sending roughly 3,100 BTC worth around $178 million in the span of an hour on July 9. At the same time, the government also withdrew roughly … German gov\u2019t prepares for next $276M BTC sell-offRead more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/emilynews.com\/blog\/?p=51203\" \/>\n<meta property=\"og:site_name\" content=\"EmilyNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-09T09:34:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-10T03:24:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"701\" \/>\n\t<meta property=\"og:image:height\" content=\"466\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Emilynews\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Emilynews\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51203\",\"url\":\"https:\/\/emilynews.com\/blog\/?p=51203\",\"name\":\"German gov\u2019t prepares for next $276M BTC sell-off - EmilyNews\",\"isPartOf\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51203#primaryimage\"},\"image\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51203#primaryimage\"},\"thumbnailUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg\",\"datePublished\":\"2024-07-09T09:34:35+00:00\",\"dateModified\":\"2024-07-10T03:24:48+00:00\",\"author\":{\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\"},\"breadcrumb\":{\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51203#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/emilynews.com\/blog\/?p=51203\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51203#primaryimage\",\"url\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg\",\"contentUrl\":\"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg\",\"width\":701,\"height\":466},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/emilynews.com\/blog\/?p=51203#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/emilynews.com\/blog\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"German gov\u2019t prepares for next $276M BTC sell-off\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/emilynews.com\/blog\/#website\",\"url\":\"https:\/\/emilynews.com\/blog\/\",\"name\":\"EmilyNews\",\"description\":\"EmilyNews Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/emilynews.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33\",\"name\":\"Emilynews\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g\",\"caption\":\"Emilynews\"},\"url\":\"https:\/\/emilynews.com\/blog\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"German gov\u2019t prepares for next $276M BTC sell-off - EmilyNews","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/emilynews.com\/blog\/?p=51203","og_locale":"en_US","og_type":"article","og_title":"German gov\u2019t prepares for next $276M BTC sell-off - EmilyNews","og_description":"The German government has continued its Bitcoin sell-off after sending roughly 3,100 BTC worth around $178 million in the span of an hour on July 9. At the same time, the government also withdrew roughly … German gov\u2019t prepares for next $276M BTC sell-offRead more","og_url":"https:\/\/emilynews.com\/blog\/?p=51203","og_site_name":"EmilyNews","article_published_time":"2024-07-09T09:34:35+00:00","article_modified_time":"2024-07-10T03:24:48+00:00","og_image":[{"width":701,"height":466,"url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg","type":"image\/jpeg"}],"author":"Emilynews","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Emilynews","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/emilynews.com\/blog\/?p=51203","url":"https:\/\/emilynews.com\/blog\/?p=51203","name":"German gov\u2019t prepares for next $276M BTC sell-off - EmilyNews","isPartOf":{"@id":"https:\/\/emilynews.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/emilynews.com\/blog\/?p=51203#primaryimage"},"image":{"@id":"https:\/\/emilynews.com\/blog\/?p=51203#primaryimage"},"thumbnailUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg","datePublished":"2024-07-09T09:34:35+00:00","dateModified":"2024-07-10T03:24:48+00:00","author":{"@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33"},"breadcrumb":{"@id":"https:\/\/emilynews.com\/blog\/?p=51203#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/emilynews.com\/blog\/?p=51203"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/?p=51203#primaryimage","url":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg","contentUrl":"https:\/\/emilynews.com\/blog\/wp-content\/uploads\/2024\/07\/germ.jpg","width":701,"height":466},{"@type":"BreadcrumbList","@id":"https:\/\/emilynews.com\/blog\/?p=51203#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/emilynews.com\/blog"},{"@type":"ListItem","position":2,"name":"German gov\u2019t prepares for next $276M BTC sell-off"}]},{"@type":"WebSite","@id":"https:\/\/emilynews.com\/blog\/#website","url":"https:\/\/emilynews.com\/blog\/","name":"EmilyNews","description":"EmilyNews Blog","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/emilynews.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/d198218498e05856be72796eea940a33","name":"Emilynews","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/emilynews.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/080b41979dac9ab029c0867a1655bdaf?s=96&d=mm&r=g","caption":"Emilynews"},"url":"https:\/\/emilynews.com\/blog\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=51203"}],"version-history":[{"count":2,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51203\/revisions"}],"predecessor-version":[{"id":51208,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/51203\/revisions\/51208"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=\/wp\/v2\/media\/51206"}],"wp:attachment":[{"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/emilynews.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}