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Crypto Market Boost: Germany’s $200M Bitcoin Recovery Sparks Rally

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Crypto Market Boost: Germany's $200M Bitcoin Recovery Sparks Rally

Crypto Market Boost: Bitcoin Leads Recovery After German BTC Retrieval

Crypto Market Boost – Bitcoin (BTC) spearheaded a crypto market recovery early Tuesday after a German government entity received over $200 million worth of the asset back from various exchanges, reviving market sentiment.

Bitcoin and Major Tokens Surge in Asian Trading Hours

In the Asian morning hours, Bitcoin was trading just over $57,300, up 3.5% over the past 24 hours. Major tokens followed suit, with Solana’s SOL jumping as much as 6%, Ether (ETH) climbing back above $3,000, and Dogecoin (DOGE) rising nearly 7%.

The rebound comes after BTC had dropped to a low of $55,000 on Monday. The decline occurred shortly after an address linked to the German Federal Criminal Police Office (BKA) transferred over $900 million to various addresses, causing panic among traders.

However, according to Arkham data, the BKA received over $200 million from Kraken, Coinbase, and Bitstamp within the past 12 hours. This suggests that while the assets were sent to these exchanges, they ultimately did not enter the market.

BKA Recovers $2 Billion in Bitcoin Seized from Movie2k.to Operators

The BKA had seized nearly 50,000 BTC in 2013 from the operators of Movie2k.to, a film piracy website. At that time, the BTC was worth over $2 billion. The assets were received by the BKA in mid-January after a ‘voluntary transfer’ from the suspects, as previously reported.

FAQ

What led to the recent recovery of Bitcoin and the crypto market?

The recovery was spurred by a German government entity receiving over $200 million worth of Bitcoin (BTC) back from various exchanges. This event helped revive market sentiment, leading to a rise in Bitcoin and other major tokens.

How much did Bitcoin’s price increase during the recovery?

Bitcoin was trading just over $57,300 in the Asian morning hours, marking a 3.5% increase over the past 24 hours.

For more up-to-date crypto news, you can follow Crypto Data Space.

Crypto Market Boost: Germany's $200M Bitcoin Recovery Sparks Rally

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