Bitcoin dips as Germany moves $900 million 💰

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Bitcoin has had a volatile couple of days, bouncing between $54,000 and just above $58,000. It took a plunge late Sunday and then worked back up early Monday, prompting liquidations of longs and shorts alike—and then Germany started making serious moves.

The German government moved more than $900 million worth of seized Bitcoin to exchanges and market makers over the course of just 8 hours early Monday. This follows weeks of smaller moves by German officials.

While the movements don’t necessarily imply that all of that BTC has been sold off just yet, the moves appeared to spook the market, with a rapid 3% dip in Bitcoin’s price in a span of about 15 minutes. Bitcoin is now down 11% over the last week, as of this writing.

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