The BTC selling pressure is heavy, the governments of the United States and Germany have successively withdrawn from Bitcoin, has the dumping tide begun?

The market has been negative recently. Investors not only have to worry about Mt. Gox distributing selling pressure on Bitcoin, but there are also reports that the German and US governments have transferred seized Bitcoins. Bitcoin has been under heavy selling pressure in recent days, with the low once reaching 58,402. As of press time The previous price was 61,085. In the short term, it is still below the moving average and cannot break upward.

( The selling pressure on Mt. Gox’s Bitcoin is not as heavy as expected, and most of them are long-term BTC holders )

The U.S. government transferred 3,940 Bitcoins

According to on-chain data tracked by Arkham , a wallet labeled as associated with the U.S. government moved 3,940 Bitcoin (approximately $241 million) into Coinbase Prime last night. The U.S. government still owns 213,546 Bitcoins, worth approximately $13.1 billion. It is the government with the largest Bitcoin holdings.

Arkham Research tracked the transactions in the United States and found that the 3,940 Bitcoins were originally seized from drug trafficker Banmeet Singh and confiscated during his trial in January 2024.

Is Germany also planning to sell BTC?

According to on-chain data tracked by Arkham , the German Federal Criminal Police Office (Bundeskriminalamt, referred to as BKA) transferred a total of 650 BTC (approximately $40.29 million) to the exchanges Coinbase, Bitstamp and Kraken in the past two days.

As of press time, BKA still holds 45,264 Bitcoins, worth approximately US$2.76 billion.

According to BitcoinTreasuries , a Bitcoin holding data platform, the German government’s Bitcoin holdings rank fourth, behind the United States, China and the United Kingdom.