Get all your news in one place.
100's of premium titles.
One app.
Start reading
International Business Times
International Business Times
Business
Marvie Basilan

Is Bitcoin Failing The German Government's 'Liquidity Test'? Bitcoiners Clap Back

Bitcoin JACOB KING Arkham Intelligence Crypto Germany International Monetary Fund Tether
Bitcoin may have been put under a liquidity test by the German government, some analysts said. (Credit: IBTimes US)

KEY POINTS

  • Germany has dumped more than half of its Bitcoin holdings, as per the latest data
  • King said it's "safe to say Bitcoin is failing" the German government's liquidity test
  • Aljarrah agreed that the asset is "artificially inflated" and is due to rise then crash again
  • Many Bitcoiners came to the token's defense as $BTC reclaimed $58,000 early Wednesday

The German government's continuing sell-off of its seized Bitcoin stash has rocked the crypto community to the core, with some blaming the said activity for the price downtrend the world's first decentralized digital asset suffered in recent weeks.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
More Than 37,000 Squishy Toys Recalled as Water Beads Inside Can Swell in a Child and Evade X-Rays
About 37,480 squishy toys with water beads are recalled. Learn the warning signs of ingestion and why X-rays may miss swallowed beads.
Medical Daily
Medical Daily
Is Store-Bought Rotisserie Chicken Actually Healthy? Here’s What to Check on the Label
A grocery store rotisserie chicken can make dinner easier without the cost of takeout or the work of cooking from scratch. It provides protein and can be used in salads, sandwiches, soups, and family meals throughout the week. However, not every rotisserie chicken has the same nutritional profile. Some contain…
Grocery Coupon Guide
Grocery Coupon Guide
Why Are Eggs Refrigerated in America but Left on the Shelf in Other Countries?
Walk into a grocery store in the United States, and you will find eggs in a refrigerated section. Visit many European grocery stores, however, and eggs may sit on ordinary shelves at room temperature. This difference often surprises American travelers who wonder why the same food requires different storage methods.…
Grocery Coupon Guide
Grocery Coupon Guide
Kim Kardashian Reveals Five Nannies for Four Kids as Kanye West and Bianca Censori Step Out in Los Angeles
Kanye West and Bianca Censori were seen with Playboi Carti at ComplexCon in Los Angeles, shortly after Kim Kardashian discussed raising their four children and using five nannies.
International Business Times UK
International Business Times UK
Woman says a male canvasser knocked at her door and wanted to talk pro-life. Then she asked him: ‘Have you ever been pregnant?’
She explained why she is pro-choice.
We Got This Covered
We Got This Covered
Doing Everything Right but Still Have Dull Skin? Here’s Why
If this sounds familiar, it doesn't necessarily mean your skincare routine is bad. Healthy-looking skin depends on much more than the products sitting on your bathroom shelf. Dead skin-cell buildup, dehydration, sun exposure, irritation, lifestyle factors and even using too many active ingredients can all affect how your skin looks.…
MyLifeXP
MyLifeXP
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play