German authorities transferred 900 Bitcoins, half to the exchange

The German government's Bitcoin wallet continues to transfer money, of which nearly half is to exchanges.

On the afternoon of June 25, data from on-chain statistics platform Arkham showed that Bitcoin wallets controlled by German authorities had the latest activity, transferring 900 BTC out.

Specifically, Berlin officials transferred 200 BTC to Coinbase, 200 BTC to Kraken and 500 BTC to a new address.
As reported last week, German authorities transferred $195 million in Bitcoin to exchanges, most likely for liquidation purposes.

This is just a part of the 50,000 BTC confiscated by German authorities from the dark web Movie2k. Currently, these wallets still own 46,369 BTC, worth $2.8 billion.
Bitcoin price did not have much reaction to the above news, instead continuing its recovery to the $61,250 area. The world's largest cryptocurrency on June 24 dropped to 58,400 USD - the lowest price in the past 1.5 months - because of pessimism surrounding the market surrounding selling pressure from Bitcoin ETFs. , the German government and the Mt. Gox.

On June 24, representatives of Mt. Gox said it will begin the process of returning BTC, BCH and cash to damaged investors from July. Currently Mt. Gox is still holding up to 9 billion USD worth of Bitcoin, causing many people to worry that the cryptocurrency market in the near future will continue to experience selling pressure from these "whales".
Some analysts believe that the target price for this correction of BTC could be as low as $50,000 because a double top pattern has formed.