Bitcoin shrugged off the most recent round of German government on-chain transactions, but BTC price resistance trendlines remained out of reach.

In that context, BTC revisited $59,000 after the July 9 Wall Street opening as the German government moved most of its Bitcoin holdings.

BTC/USD 1-hour chart. Source: TradingView BTC Price Unbothered As German Government Moves Continue

Data from TradingView showed an upside in BTC price momentum culminating in the daily highs of $58,102 on Bitstamp.

This exchange was one of the many involved in the most recent round of transactions to and from a wallet owned by the German state. Both inbound and outbound BTC transactions happened on the Day, the latter featuring nearly 3,000 BTC.

On July 8 there was another source of debate in the current market: the tokens belonging to the defunct exchange Mt. Gox also moved onchain. The CEO and founder of the on-chain analytics platform

Keep reading this article on

Leave a Reply