The German government has officially offloaded its remaining Bitcoin holdings as of July 12, 2024. The final sale involved 3,846 Bitcoin, sent to "Flow Traders and 139Po," which Arkham Intelligence described as likely institutional deposit or over-the-counter services. This marks the culmination of a series of sales totaling 50,000 Bitcoin over the past few weeks, significantly impacting the market by keeping the price below $60,000. These Bitcoin holdings were largely from assets seized in criminal investigations.Despite the government's complete liquidation of its Bitcoin reserves, ongoing selling pressure from the $9 billion Mt. Gox reimbursement plan is expected to continue influencing the market. Analyst Tony Sycamore from IG Markets believes the impact of the Mt. Gox payments are already priced in, although the exact behaviour of creditors remains uncertain. Interestingly, during this period of heightened selling pressure, institutional investors have been buying the dip, with U.S. exchange-traded funds seeing $295 million in inflows in early July​.