Markets
Bitcoin Recovers $57,000 on $300 Million in ETF Inflows
Bitcoin has found stability above $57,000 after Monday’s drop up to $55,000, as a German government entity recovered more than $200 million worth of the asset from various exchanges late in the U.S., helping to revive sentiment. BTC was trading around $57,400 during the European morning, up 1% over the past 24 hours, after falling to $55,000 on Monday after a wallet address belonging to Germany’s Federal Criminal Police Office (BKA) sent over $900 million to various other addresses, spooking traders. Over the past 12 hours, the entity received refunds from Kraken, Coinbase, and Bitstamp, Arkham data shows, indicating that while the assets were sent to these exchanges, they ultimately did not reach the market.