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

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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.

Bitcoin Price Chart 7-4-2024
Bitcoin Price Chart 7-4-2024

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

German Government Bitcoin Wallet
Supposed German Government Bitcoin Wallet

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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