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Bitcoin Below $57,000 as German Government Continues to Sell

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Bitcoin Dump

Bitcoin is continuing to slide in price falling below $57,000 for the first time since 30 April 2024. Bitcoin fell to a price of $56,709 on the morning of the 4th of July.

The bitcoin shakeout is contributed to the German Government selling their bitcoin, transferring 3,000 BTC to central exchanges, worth over $172 million.

Bitcoin price could continue to fall to even lower levels when Mt.Gox distributes their bitcoin, expected to occur in July 2024.

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