Data Analysis: Review of the impact of the German government's selling of BTC on the market

As of 4 a.m. on July 14, according to statistics from on-chain data service provider ichainfo, the remaining balance of BTC in the German government’s wallet address was US$265.57. All 50,000 BTC confiscated by the government have been sold. This time, the German government’s Bitcoin The sell-off has come to an end, so let’s do a brief review and analysis.

图一：德国政府地址剩余btc持仓数量（ichainfo统计地址：https://search.ichainfo.com/bitcoin/address/bc1qq0l4jgg9rcm3puhhfwaz4c9t8hdee8hfz6738z#activity）

First of all, let’s review the German government’s Bitcoin sales. The timing of the sales since the sale started on June 19th. In June, it was tentatively sold first, causing market panic, and it started on July 8th. Mass selling, as shown in the chart below:

Further analysis of the Bitcoin channels sold, as shown in the chart below:

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