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Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government?

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Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government? - NewsBTC

Quick Summary:

The funds recorded positive net flows every day during the week, with the largest net flow of $310 million on July 12.   Bitcoin Holding Up The German state of Saxony sold over $2 billion worth of Bitcoin last week and flooded the market with many BTC.

A look at the chart below shows that the accumulation was at its peak during Bitcoin’s 15% drop from $63,600 on July 1 to $53,905 on July 5.  In addition to the whale accumulation, Spot Bitcoin ETFs witnessed steady inflows during the week despite the decline in the spot price.

Bitcoin went on a downward spiral in the first week of July to strike a bottom below $54,000 amidst an exacerbated selloff by some large holders.

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Bitcoin Accumulation: Who’s Been Buying Up All The BTC Dumped By The German Government? - NewsBTC (Picture 1)

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-14 @ 10:00:15 (3 days ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 450 words

Reading Time: 3 minutes read

Sentences: 68 lines

Sentence Length: 7 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 21606949

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About NewsBTC

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Main Topics: Crypto

Official Website: newsbtc.com

Update Frequency: 5 posts per day

Year Established: 2013

Headquarters: United Kingdom

News Last Updated: 10 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #102

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