German gov’t $354M BTC sell-off

CANVA

This was somehow good for crypto market where we see a recovery price from $54K to $59K but suddenly Yesterday the market crashed taking the price down to $56700.

This is more than 4% drop and again altcoins see a major downtrend which is very worrying for the investors.

The main cause for Yesterday market crash was German government who sold their BTC holdings resulting in price crash.

German government sold more then $342B worth Bitcoin which brings volatility in the market.

They are further preparing to sell another huge amount which will surely add volatility in the market and further crash is expected unless we hear another good news from the Germans.

The next attempt to offload roughly $342 million worth of BTC has begun.

This is not somehow good news for the market because further crash is expected because they are ready to sell another offload.

Therefore, we all be cautious when trading to avoid further losses.

THANK YOU!