German Government BTC Holdings Draw the Crypto Spotlight

Arkham Intelligence reported the latest German government offload of BTC on Tuesday, stating

German Government Holdings Take Center Stage in Crypto News

Fresh crypto headlines emerged on Tuesday, highlighting movements from the German government and updates on the US Federal Reserve (Fed) rate cut probability. Here's a summary of the latest developments.

The CME FedWatch Tool reported a decrease in the probability of a September Fed rate cut on Tuesday, July 9. The probability fell from 75.6% to 73.3%.

Meanwhile, investor sentiment toward a Fed rate cut and US BTC-spot ETF flow trends contributed to the BTC gains on Tuesday. However, investors remained cautious about possible supply surges.

German Government Crypto Holdings in Focus

Arkham Intelligence reported on the German government's recent BTC movements, highlighting a large offload and a smaller receipt from exchanges.

“In the past 3 hours, the German Government has sent 6306.9 BTC ($362.12M) to Kraken, Cumberland, 139Po (likely institutional deposit/OTC service) and address bc1qu.” the crypto intelligence firm noted.

However, the German government also received BTC from exchanges. Arkham Intelligence noted the movements, stating, “Since yesterday’s movements, the German Government received 5366 BTC back from exchanges including Kraken, Bitstamp, and Coinbase.”

Despite the receipt, BTC and the broader crypto market faced the potential risk of another German government BTC sale.

According to Arkham Intelligence, the German government's BTC holdings stood at 23,964 BTC, valued at $1.38 billion at the time of the report.

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