Bitcoin, after a brief surge above $62,000 in the early Asian session, retreated to $61,400. The price fell amid significant on-chain activity in the German government’s BTC holdings. According to blockchain sleuth Lookonchain, the eurozone’s largest economy transferred 750 BTC, valued at over $46 million, sending 250 BTC to crypto exchanges Bitstamp and Kraken, an indication that the country may be preparing to sell the tokens. This action, part of a divestment of BTC seized from a privacy website, added to bearish pressures in the market. The government holds over 45,000 BTC. Ether followed bitcoin’s lead, dropping from $3,425 to $3,375 and CoinDesk 20 Index (CD20) also retreated, losing about 0.14%.
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