Per Arkham Intelligence, the German Federal Criminal Police Office moved 5103.5 BTC worth nearly $300 million, continuing its liquidation of seized coins to exchanges and market makers.
The state of Saxony in Germany has liquidated 30,997 BTC in the past few weeks, affecting the crypto market with a 15% drop and a wallet currently holding 18,860 BTC.
"The market seems to be growing more comfortable with the outflows from Mt. Gox and the German government. The spot Bitcoin ETFs are now seeing strong inflows again," Valentin Fournier, analyst at BRN, said.
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