On June 26, German government-linked bitcoin wallets transferred 595.3 BTC worth ~$36.65 million to crypto trading platforms, according to Arkham data.
Data: Arkham.Of this amount, 125 BTC were sent to the Bitstamp and Kraken cryptocurrency exchanges. A test transaction of 0.001 BTC was followed by a transfer of 345.3 BTC to the address of the Flow Traders market maker.
Arkham experts also noted a transaction in the amount of 500 BTC to a wallet, the ownership of which they did not identify at the time of writing.
The company's experts suggest that we are talking about coins confiscated by law enforcement in January from the administrators of the pirate movie site Movie2k. Initially, 50,000 BTC was stored on wallets controlled by the German Federal Criminal Police Office (BKA).
The authorities have been actively moving the cryptocurrency since June 19, when part of it first entered the Kraken and Bitstamp exchanges. The community linked possible asset sales to a "slight drop" in price.
On June 25, BKA sent 200 BTC each to Coinbase and Kraken.
According to Arkham, 45,264 BTC worth $2.78 billion remains at the disposal of the department.
Over the past 24 hours, the price of bitcoin has hardly changed, the asset is trading at $61,400, having risen in price by 0.5% (CoinGecko). However, against the background of BKA transfers, drawdowns of the exchange rate to around $61,200 were recorded.
The 15-minute BTC/USDT chart of the Binance exchange. Data: TradingView.Recall that in the United States, the government was accused of "embezzlement" of bitcoins from the country's reserve, which was supposed to exceed 400,000 BTC.