The process of Germany offloading seized bitcoin is called by experts"market intervention" as it caused a selloff.
When the authorities finally issued a statement this week, the process was called a"market-friendly sale," which"was gentle on the market." The statement claimed that"a fair market price was always achieved" and said that"at this scale, there is no direct influence on the bitcoin price.
Hartmannsgruber also asked the authorities to point to sources behind their claim that"less than one percent of the market volume of bitcoins was regularly traded over the counter and had"no direct influence on the bitcoin price."
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Bitcoin price drop and crypto market turmoil intensifies — Is Germany to blame?Bitcoin’s loss of bullish momentum is most likely connected to traders’ apprehension over concerning macroeconomic data.
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