Bitcoin price dipped below $65,000 today, coinciding with significant BTC movements by the German Federal Criminal Police Office (BKA).
According to Arkham, the BKA sent $425 million in Bitcoin to different wallets, including exchanges Kraken and Bitstamp, raising questions about the potential impact on the markets.
German Government’s Bitcoin Transfer
The German Federal Criminal Police Office (BKA) moved a large volume of Bitcoin on June 19th. From the Arkham data, the BKA transferred 6,500 BTC worth $425 million from their wallet.
Of this, $32 million worth of Bitcoin was sent to Kraken and $32 million to Bitstamp. These transactions hint that there could be an intention to sell some of the holdings.
Post was just meant to highlight not to call for a massive pump/dump or anything. I personally didn’t even know the German Government seized that much #Bitcoin earlier this year.
Fwiw, more often than not these transfers are around local bottoms not tops the moment people find…
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