Krutika Adani
Till 20th June, Arkham Intelligence discovered that a wallet belonging to the German government sold $195 million worth of Bitcoins.
The wallet had moved another $600 million, possibly earmarked for sales in the open market.
Due to the high volume of sales in a sideways market, Bitcoin prices have failed to recover. The price is expected to remain at $63k or lower for the near term.
The wallet belonging to the German government contained $3 billion worth of Bitcoins, which Arkham Intelligence last identified on June 20th.
Almost all of the 50k Bitcoins in the wallet were confiscated from the owners of Movies2k.to