The German government transferred 2,700 bitcoins (BTC) worth approximately $154.6 million on Friday afternoon (12th), with a portion of it being sent to exchanges such as Coinbase, Bitstamp, and Kraken. Currently, the German government’s bitcoin wallet still holds 6,394 BTC, valued at $365 million, accounting for about 13% of the pre-sale quantity.
Source:
Lookonchain
The encrypted cryptocurrency wallet labeled as “German Government (BKA)” by chain intelligence company Arkham has transferred billions of dollars’ worth of bitcoins since June 19th. Arkham reported earlier today that the wallet sent 10,620 BTC (worth $615 million) to Coinbase, Bitstamp, Kraken, market maker Flow Traders, and two anonymous addresses (possibly belonging to institutional deposit or over-the-counter trading service providers) yesterday. After the transaction, the wallet had only 4,925 BTC left, but some of the funds were soon transferred back to the German government’s wallet.
After today’s transfer in the afternoon, the German government’s wallet currently holds only 6,394 BTC, valued at $365 million.
Fear and Greed Index drops to “Fear” zone
The German government’s sale and concerns about Mt.Gox exchange beginning to repay creditors may be the reasons for the recent significant drop in bitcoin prices over the past few weeks. Data from cryptocurrency derivatives analytics platform CoinGlass shows that the fear and greed index in the bitcoin market has fallen into the “Fear” zone.
The fear and greed index measures the current sentiment in the bitcoin market. CoinGlass explains that when the index reaches “Extreme Fear,” it indicates that investors are overly worried, which could present a buying opportunity.
Source:
CoinGlass
At the time of writing, the trading price of bitcoin was $57,070, with a 24-hour decline of approximately 1.7% and a one-month decline of 16%.