Germany miss seize 45K Bitcoin fit cause supply overload wahala
Arkham Analytics talk say German authorities miss seize about 45,000 BTC Bitcoin wey worth like $5 billion wey join Movie2K piracy network. Dem coins still scatter for over 100 wallets, likely still dey under pirate control. Prosecutors fit now secure warrant to seize and dispose di Bitcoin. Dem get three options: immediate auction, phased sales, or hold strategic Bitcoin reserve to lessen market impact. For middle 2024, Germany sell around 49,858 BTC under $60,000, cause price drop by 25% and five months consolidation. Later, Bitcoin surge to $124,000, left over $2 billion unrealized gains from previous sale. Traders suppose dey watch on-chain flows and legal rulings well well. Fresh Bitcoin seize and block sale fit make supply plenty, cap prices, and bring back market wahala.
Bearish
Di show say dem miss seize 45,000 BTC and say possibility dey for big block sell cause oversupply we fit limit price plus make market gbege short term. Historical block sales for mid-2024 show say price drop 25% and market hold ground for long before e recover. For long term, strategic reserve fit reduce shock but immediate effect still bearish as traders fit sell before auction, wey go put pressure for market stability.