Conspiracy theories suggest that it has been the German government pulling the strings, with Bitcoin’s price under pressure from a massive amount of selling on the market, which has coincided with the extreme selloff witnessed in recent days. During the past month, Berlin has liquidated hundreds of millions of dollars’ worth of Bitcoin that had been stored in an account run by the Federal Criminal Police Office (Bundeskriminalamt, BKA).
Over the course of one month, June, the BKA is understood to have offloaded close to 900 Bitcoins, amounting at the time to around $52 million, from a trove seized from a long-shuttered pirate movie site, according to Arkow Intelligence, a firm that tracks activity on the blockchain.
Source: CNBC
