Bitcoin has also been under selling pressure from the German government as well as collapsed bitcoin exchange Mt. Last month, the German government began selling bitcoin from a wallet operated by the country's Federal Criminal Police Office, referred to locally as the Bundeskriminalamt, or BKA. Bitcoin price reactionIn tandem with these sales, bitcoin has seen its price fall dramatically. At one point in the day, the entire crypto market had shed more than $170 billion in combined market capitalization in a 24-hour period, CoinGecko's data showed. Germany's bitcoin sales aren't the only concern for crypto investors.

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Persons: Bitcoin, it's, wasn't, bitcoin, —, Nobuaki Kobayashi, James Butterfill, CoinShares, Germany's BKA, Joana Cotar, Cotar, Olaf Scholz, Christian Lindner, Michael Kretschmer, she's, Samson Mow Organizations: Federal Criminal Police, Arkham Intelligence, CNBC, Saxony, Federal Criminal Police Office, German Bundestag Locations: Gox, bitcoin, Germany, Saxony, Federal Republic of Germany, German, Berlin