Recently, the German government made a significant move by transferring 750 Bitcoin (BTC) valued at around $46.27 million to various destinations. includes well-known cryptocurrency exchanges and wallets. This transfer is part of a series of asset movements by the government over the past week.
The majority of the transferred Bitcoin was allocated 125 BTC sent to the Kraken exchange, another 125 BTC sent to Bit, and a substantial amount of 500 BTC moved to a private wallet with the address “139PoPE1bK.” Additionally, there was a minor test transaction of 0001 BTC sent to Flow Traders, indicating ongoing management of their digital assets.
This transfer adds up to approximately 4,250 BTC that the German government has moved from its in total. These transactions are valued at an average of around $271.3 millionIn terms of Bitcoin’s reaction to these developments, as per IntoTheBlock stats, Bitcoin’s price currently stands at $61,37154 with a minimal daily change (+0.1%) and a market capitalization of approximately $1.21 trillion. robust market cap reinforces Bitcoin’s significant position in the cryptocurrency space.
Around 85% of Bitcoin holders making money at the current price while only 13% are facing losses according to IntoTheBlock data , suggesting strong positive sentiment in the market.
Compared to other cryptocurrencies where whale activity is more pronounced, large holders control about 12% of Bitcoin’s total supply indicating relative decentralization in holdings.
Transactions are split evenly between Western and Eastern hemispheres with around 49% originating from Western countries and about
51% from Eastern countries highlighting its global reach.
Over the past seven days,the market has seen transactions worth $77.28 billion exceeding $100k indicating significant institutional or large-scale investor movements.
There have been inflows totaling $6.18 billion into exchanges compared with outflows worth$6 .66 billion suggesting investors may be more inclined towards holding or moving their bitcoins off exchanges which could indicate bullish sentiment in this regard.
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