Berlin's Bitcoin Transfers Continue: Kraken and Coinbase Receive More BTC

German government-linked wallets have continued to transfer Bitcoin towards major exchanges, raising concerns about state-level selling pressure on the cryptocurrency market.

According to data from Arkham Intelligence, these wallets have sent more BTC to Kraken and Coinbase, which are considered deep venues with sufficient liquidity to process large flows. This could reduce market disruption but also make potential sales more practical.

The transfers are being watched closely as a potential sell-side pressure signal, as traders tend to price in the possibility of future sales when large wallets send BTC to exchanges. A government liquidation wallet is different from a random whale transfer, which can have various motivations and outcomes.