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German government’s Bitcoin sale sends BTC price lower after MicroStrategy almost triggers rally

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MicroStrategy acquired an additional 11,931 BTC on Thursday, bringing its entire holdings to 226,331 BTC.

MicroStrategy acquired 11,931 more BTC after raising $800 million from convertible note offering. MicroStrategy's move propelled Bitcoin's price back to $66,000 before it experienced a correction. German government's sale of more than 2,000 BTC may have caused correction. Following this move, Bitcoin's price reboundedto $66,000, but FUD from the German government's sale of 2,000 BTC may have sent the top digital asset's price back to the $64,000 level.

Data from Lookonchain revealed that an anonymous whale bought 6,070 BTC worth $395 million in the recent market drop. The report suggests that this smart whale buys BTC at particularly low market prices and sells at price highs. Meanwhile, Bitcoin's return to the $64,000 level in the past few hours may have been triggered by FUD from sustained selling activity by the German government.

 

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