Bitcoin drops by 3.5% as German government sells off $325 million BTC

Bitcoin the primary crypto asset dropped by 3.5% on Friday morning to $64,700 as volatility shook the asset following a humungous sell-off of Bitcoin assets by the German government.

Bitcoin in the last hour has dropped by nearly 1.2% continuing an underwhelming trend that has witnessed the asset drop by over 9% in the last two weeks.

Industry experts believe the drop in Bitcoin prices was triggered by the massive sell-off of seized Bitcoin assets by the German authorities.