Bitcoin\'s Price Fell Below $65,000 Today After the German Federal Criminal Police Office Moved $425 Million in BTC, Leading to Market Speculation and Anxiety

At the same time that the German Federal Criminal Police Office (BKA) reported large BTC movements, the price of Bitcoin fell below $65,000 today.

German police moved $425 million in BTC, sparking market speculation

Bitcoin's price fell below $65,000 today after the German Federal Criminal Police Office moved $425 million in BTC, leading to market speculation and anxiety.

As the German Federal Criminal Police Office (BKA) reported large BTC movements, the price of Bitcoin fell below $65,000 today.

According to data from Arkham, the BKA transferred 6,500 BTC from their wallet to various wallets on June 19th. From the total amount, both Kraken and Bitstamp received $32 million in Bitcoin, which could indicate that the government agency is planning to sell some of its assets.

Arkham CEO Miguel More claimed that $130 million of the transferred BTC went to “service wallets,” hinting at the possibility of the agency planning to sell the assets.

The transfer was first noticed on social media site X by Mantle blockchain strategist @Defi_Maestro, who suggested that the movement could impact the markets.

The announcement regarding BKA's Bitcoin transactions quickly impacted the market mood. Following the transfers, analysts noted an increase in short positions and a slight decrease in the price of Bitcoin.

As a result, the price of Bitcoin fell below $65,000, a pattern observed previously following large transactions involving government entities.

However, it is important to note that the actual amount of Bitcoin sent to both Kraken and Bitstamp was around 500 BTC. If investors learn that the government is selling assets, it could lead to short-term波动 in the market.

This activity by the German government also coincided with other market indicators that are giving off mixed signals.

According to Coingape, the decline in Bitcoin's market share, from 54.31% to 0.93%, suggests that investors are shifting their attention to other cryptocurrencies. A minimal net outflow from the Bitcoin exchange balance is also positive, indicating that traders are opting to keep their Bitcoins rather than selling them.

Despite the recent correction, the overall sentiment remains optimistic as the Crypto Fear & Greed Index decreased by 13.51% to 64, still within the “greed” zone. On the other hand, Bitcoin futures and options are seeing an increase in open interest, which could indicate more institutional involvement or speculation.

News source：https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-price-fell-german-federal-criminal-police-office-moved-btc-leading-market-speculation-anxiety.html

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