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Arbitrage trading of spot Bitcoin ETFs and decreased demand for inflation hedges might be restricting Bitcoin's price growth.
Germany's Bitcoin sell-off is coming to an end. Genesis Trading, in bankruptcy, transfers 12,691 BTC to Coinbase, raising market concerns.
The German government's Bitcoin wallet balance has dropped to zero after several days of continuously transferring BTC to exchanges and market makers.
Bitcoin ETFs see record inflows in July, signaling strong investor sentiment and driving Bitcoin, Ethereum, and altcoins higher.
Daily as routine, the German government wallet persists in transferring Bitcoin to CEX exchange wallets, OTC institutional wallets, and various private wallets.
The German government moved a total of 10,853 BTC worth over $630 million on July 10, yet the crypto market showed negligible price fluctuations.
Net inflows on Monday were the highest since early June with Blackrock’s BTC ETF taking on almost $190 million.
The activity rate of Bitcoin wallets has dropped to its lowest level since late 2010, while the total number of active wallets has also declined.
Data from on-chain statistics platform Arkham shows that national governments including Germany, the US and the UK still hold large amounts of Bitcoin in wallets.