Markets
Germany Moves 750 Bitcoins (BTC), Altcoins Bleed Cash
Bitcoin, after a brief rise above $62,000 at the start of the Asian session, retreated to $61,400. The price fell amid significant on-chain activity in the German government’s BTC holdings. According to blockchain detective Lookonchain, the euro zone’s largest economy transferred 750 BTC, valued at over $46 million, sending 250 BTC to crypto exchanges Bitstamp and Kraken, an indication that the country could be preparing to sell the tokens. The action, part of a divestment of BTC seized on a privacy website, added to downward pressures in the market. The government holds over 45,000 BTC. Ether followed Bitcoin’s lead, falling from $3,425 to $3,375 and the CoinDesk 20 Index (CD20) also fell, losing around 0.14%.