German government having second thoughts.

[cygan]

in addition to selling via Coinbase, Kraken and Bitstamp, the government has also recently sent large quantities of BTC to the market maker Flow Traders.
this gives the impression that the german government is trying to get rid of Bitcoin via otc. another indicator of this: transactions on FalconX or Cumberland.
the government is therefore trying to get rid of its coins in several ways. the majority is handled via otc trades, while smaller holdings are sold on conventional crypto exchanges; for security reasons, the government transfers BTC that does not find a buyer back to its own wallet.

[bitLeap]

I was reading another article earlier today, and the article stated that they bought back some bitcoin after the market dump as a result of panic selling as they moved that heavy amount of BTC to exchanges.
 
But from the information I got from X

Update: German Government BTC Movements German Government wallets received 1915 BTC ($111.5M) last night back from addresses linked to Kraken, Bitstamp and Coinbase. 1047.4 BTC ($57.2M) has been moved out of their wallets this morning: -547.4 BTC ($30.1M) to Flow Traders -500 BTC ($27.1M) to 139Po (likely deposit for institutional/OTC service)

It appears that maybe they actually did not sell off all the deposits they made across the 3 major exchanges; maybe their plan was probably to manipulate the market, or there could also be a possibility that they sold out some of those coins and later bought them back after the market dropped below $55,000.

Justin Sun also tweeted on x that he said he was willing to negotiate with the German government regarding the Bitcoin they sold in order to minimize the negative impact on the market. But whether it is a serious statement or not, it seems that Justin Sun also feels that something is quite risky if the German government continues to carry out massive sales. Moreover Long strength which is still believed to cause a bullish after the Halving is far from expected.

https://x.com/justinsuntron/status/1808828661401072092

[DeathAngel]

They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.

[coolcoinz]

They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.

It's a tiny amount of money for a government. In Germany almost 40% of their GDP is tax income. Since they make 4.5 trillion a year, they make 2 trillion USD from taxes alone. Let's say they made 500m from their recent bitcoin sale. That's nothing! Even if they could make $50m more if they sold OTC all it's going to achieve is get some people blamed for this and kicked out but I bet these guys had some shorts set up prior to the dumping. Who wouldn't try to make some money, knowing what they knew?

Let's be done with it. I don't care what Germany does as long as they stop threatening the market and inducing fear by moving coins back and forth and imagine, that's exactly what they're doing. This isn't random, they aren't doing it to sell but fuel the FUD.

[skarais]

~~~

It's a tiny amount of money for a government. In Germany almost 40% of their GDP is tax income. Since they make 4.5 trillion a year, they make 2 trillion USD from taxes alone. Let's say they made 500m from their recent bitcoin sale. That's nothing! Even if they could make $50m more if they sold OTC all it's going to achieve is get some people blamed for this and kicked out but I bet these guys had some shorts set up prior to the dumping. Who wouldn't try to make some money, knowing what they knew?

Let's be done with it. I don't care what Germany does as long as they stop threatening the market and inducing fear by moving coins back and forth and imagine, that's exactly what they're doing. This isn't random, they aren't doing it to sell but fuel the FUD.

The German government has reasons why they should sell it, but they have also ignored what the impact of their sale would be since other sales solutions are rejected. Some investors are willing and offering to buy that bitcoin from the German government just because they don't want the price to be very bearish. But I agree, that there is something the German Government is thinking about that could also be in their favor.

FUD has been fueled by German Government, but some people seem to be starting to oppose the German action considering the adverse impact it is having on the markets. The German government should stop selling those bitcoins and should think of other ways if they really want to make money from them, one of which is selling them to OTC traders.

[philipma1957]

They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.

It's a tiny amount of money for a government. In Germany almost 40% of their GDP is tax income. Since they make 4.5 trillion a year, they make 2 trillion USD from taxes alone. Let's say they made 500m from their recent bitcoin sale. That's nothing! Even if they could make $50m more if they sold OTC all it's going to achieve is get some people blamed for this and kicked out but I bet these guys had some shorts set up prior to the dumping. Who wouldn't try to make some money, knowing what they knew?

Let's be done with it. I don't care what Germany does as long as they stop threatening the market and inducing fear by moving coins back and forth and imagine, that's exactly what they're doing. This isn't random, they aren't doing it to sell but fuel the FUD.

they are buying it and selling it to see how much they can manipulate the market.

[bbc.reporter]

They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.

I very much agree!

I asked some people on social media who are from Germany and they say that Germany is a very well regulated country that gives fair rules to the cryptospace. They have blockchain companies there that operate within a jurisdiction that are not being treated similar to how uncle Gary treats companies in America.

They have also mentioned that if this will become very damaging for people who invest and who do business in the cryptospace, this might affect the votes of some candidates in their federal election on 2025.

[m2017]

So, as you guys probably know the most of this recent pullback was caused by two main factors. The German government selling bitcoins worth close to $400 million and a liquidation of long positions that this caused. As a result people called out Germany for dumping bitcoin to manipulate the market and not being smart enough to sell OTC. There were even people who offered to buy their coins. Finally, there were German politicians who questioned the move, since this not only was a loss for Germany, but also other market participants. They could easily get a better price if they sold OTC.
Now it looks like Germany pulled back the last 1915 BTC from exchanges, so it looks like we won't see any dumps from them for some time. Still, the damage was done, but maybe we needed some liquidations to move forward?
Here's the article.

Any government (of different countries) is not homogeneous in its composition and views. In the same way, in the German government there were both supporters (the majority) of the current sale of bitcoin, and opponents who believe that this valuable asset should be hold. Whatever it was, the current dump cannot be canceled and this rollback has already happened. Now you can breathe a sigh of relief that the fall has stopped and bitcoin has already risen slightly in price.

If we talk about the correctness or incorrectness of actions on the part of the German government, it is difficult to say, because they can invest this money received from the sale of bitcoin in other areas, but for the crypto industry their step turned out to be, to put it mildly, shocking and a test of the strength of nerves holders.

The liquidation has already been completed and let's hope that the road upward for the bulls will now have no obstacles.

[coolcoinz]

they are buying it and selling it to see how much they can manipulate the market.

I think so. They're also moving it to exchanges and back without trading. That's what they did with that last 2k that people thought was a buyback. They sent it to an exchange, back to their wallet, then sent 500 back to exchanges again divided into 2 halves.

They're trying to spook the market for some reason. The only thing that I can think of is there's a bank trying to either get into bitcoin, or make their competition who is in or trying to get in tap out due to volatility.

[Coyster]

As a result people called out Germany for dumping bitcoin to manipulate the market and not being smart enough to sell OTC. There were even people who offered to buy their coins.

It clearly looks like they are trying to manipulate the market, because if they weren't, they would have sold their coins OTC, and then the effect on the price would have been very minimal. They have sold a lot of bitcoins in a very short time and we can only speculate the reason why, mind you that they still even have over 40k bitcoins in their reserve, so who knows what's to come later.

News like these does not look good for investors who are expecting bitcoin to rise as high as $100k before the end of the year, Mt. Gox is also planning to refund lost coins soon, the events so far are not looking to be favorable for bitcoin's price and $100k could take a longer time than expected.

[darkangel11]

FUD has been fueled by German Government, but some people seem to be starting to oppose the German action considering the adverse impact it is having on the markets. The German government should stop selling those bitcoins and should think of other ways if they really want to make money from them, one of which is selling them to OTC traders.

At this point I doubt they're dumb enough not to know what they're doing, especially after people in their own government told them that it's stupid to dump on spot markets when you can strike an OTC deal.
After all that was said they still sent more coins to spot markets. You could call that a mistake if it happened once or twice, but they've been at it for weeks now.

[Die_empty]

FUD has been fueled by German Government, but some people seem to be starting to oppose the German action considering the adverse impact it is having on the markets. The German government should stop selling those bitcoins and should think of other ways if they really want to make money from them, one of which is selling them to OTC traders.

At this point I doubt they're dumb enough not to know what they're doing, especially after people in their own government told them that it's stupid to dump on spot markets when you can strike an OTC deal.
After all that was said they still sent more coins to spot markets. You could call that a mistake if it happened once or twice, but they've been at it for weeks now.

The German government knows exactly what it is doing. I am sure they have a plan and they are just following it. Regardless of the attack by many Bitcoin proponents which includes Member of the German Bundestag Joana Cotar they still want to offload the 50,000 confiscated bitcoins from Movie2K. I don't think they should stop selling because this is also a good time to buy. The market will still correct itself after some time.

Thankfully, after the dump, the German government will lose the power to influence the market in the future. I also think that the market has gotten used to the news of the German dump because it is not affecting the price of Bitcoin too much. The new is no longer generating FUD.  I thought today's dump would have dropped the price of Bitcoin to $52k but the price is still high at $57k.

[Coyster]

I don't think they should stop selling because this is also a good time to buy. The market will still correct itself after some time.

Nobody really cares if they sell the bitcoins they have in their reserve or not, the worrying thing here is where they sell it. When countries/institutions sell off this amount of bitcoins, they usually do it in the OTC market, and in that way there wouldn't be too much effect on the price, but the German government chooses to sell in the spot market, and the question is why?

[Belarge]

They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.

The market comes to us and we're not the one that goes to the market. I've set my principles and strategies which is ready to be triggered once the bull season steps in. It's a whole down patience which I'm holding firmly because giving up is not an option at my end. Bitcoin chances of breaking new ATH is very high but the main goal for traders and investors is simply sticking to main goal.

[shinratensei_]

Justin Sun also tweeted on x that he said he was willing to negotiate with the German government regarding the Bitcoin they sold in order to minimize the negative impact on the market. But whether it is a serious statement or not, it seems that Justin Sun also feels that something is quite risky if the German government continues to carry out massive sales. Moreover Long strength which is still believed to cause a bullish after the Halving is far from expected.

https://x.com/justinsuntron/status/1808828661401072092

Never really gonna trust whatever justin sun is spouting LOL he even lowkey trolled people in ZK listing, probably this is just a stunt, however, if it's true that's good.
regardless german government already settled with OTC even go as far as buying back BTC at lower price if i remember correctly and based on arkham intelligence already dumping quite the amount but don't get too relaxed yet. the german government still expected to dump even more.

just hoping the market won't be in turmoil once again.

[el kaka22]

I find this a good move. Not only we got to see Germany trying to be smarter about it now, we also got to see other nations see what happens if they did this, and the right way of doing it. I am not saying that we are going to end up seeing anything crazy or like that, but we could probably see them do much better.

This was basically an educational situation for governments all around the world, they could probably just do a lot better, and with how much money is seized every year, I think there will be a lot more bitcoins seized in the future and already seized by many governments right now. So in the future, these governments will not dump on the market because thanks to Germany they learned that it wasn't a smart move.

[darkangel11]

Never really gonna trust whatever justin sun is spouting LOL he even lowkey trolled people in ZK listing, probably this is just a stunt, however, if it's true that's good.
regardless german government already settled with OTC even go as far as buying back BTC at lower price if i remember correctly and based on arkham intelligence already dumping quite the amount but don't get too relaxed yet. the german government still expected to dump even more.

just hoping the market won't be in turmoil once again.

That's right. Sun does it for attention, just like when he paid Buffett. He likes to read articles about himself and John McAfee was one of the first people in crypto who used to capitalize on saying stupid things and lying about bitcoin on social media and people were paying that sucker money, donating because he happened to act like he supports bitcoin.
Justin sun is the same kind of "crypto personality" as Bitboy, Richard Heart and Do Kwon.

[OgNasty]

News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.

[$weetne$$]

News reports saying Germany has sold off all of their Bitcoin holdings. Great news for the market. I hope we see a retaking of $60K next week and maybe even a run at $70K before mtgox coins start hitting the market. I also hope we see the price increase before the massive shorts hanging over the market can be covered.

This is a great news because the market is going to have some relief while we wait for mtgox to also finish distributing their own Bitcoin that they are holding. The difference between the german fud and mtgox fud is Germany was selling directly as they had the Bitcoin but mtgox would not be selling directly but they will be sending the Bitcoin to different people and everybody would not be selling at the time to make the market to fall. Some people are still going to hodl their own Bitcoin and not sell therefore we should not be expecting the same impact like it did when Germany was selling. The market is going to recover and we would be in a better position to counter the selling pressure from mtgox. The market not falling more is a sign that the market might have bottom and it is, retracing that is the next step of the market to take. The market is only going to fall if the news that Germany are done selling was a lie and only a rumour.

[JeffBrad12]

Justin Sun also tweeted on x that he said he was willing to negotiate with the German government regarding the Bitcoin they sold in order to minimize the negative impact on the market. But whether it is a serious statement or not, it seems that Justin Sun also feels that something is quite risky if the German government continues to carry out massive sales. Moreover Long strength which is still believed to cause a bullish after the Halving is far from expected.

https://x.com/justinsuntron/status/1808828661401072092

I wonder if the unidentified OTC address is actually justin's. I have my share of doubts but it is possible.

They will regret this when Bitcoin explodes to new high, after new high, after new high. What does a nation state possibly gain by selling Bitcoin. They have loads of national debt, they can print money whenever they want (they do) so why sell something that has a limited supply. It makes no sense, also the fact they are not selling OTC is very amateurish.

Knowing that the money from selling BTC is just peanut for the government, but I guess they just really want to get rid BTC and dump it altogether, good thing that they already changed their strategy and sell it through OTC for better prices, wonder why they didn't do it from the start, but know that all their BTC is already dumped, then I expect the news of BTC dumping to be less.

regarding future news regarding Mt Gox i think it will be used for FUD as well, this bullrun around gonna be rough for bitcoin.