Ramazan Eles 
The U.S. and German governments have sparked speculation of a potential crypto sell-off after moving additional Bitcoin (BTC) and Ethereum (ETH) today, according to blockchain analytics firm Arkham.
Arkham‘s data reveals that the German government transferred a total of 1,500 BTC (worth approximately $94 million) to several addresses, including those on major cryptocurrency exchanges Coinbase, Kraken, and Bitstamp. The breakdown shows:
600 BTC and 500 BTC sent to unknown addresses in two separate transactions.
200 BTC transferred to a Bitstamp address.
100 BTC each sent to Coinbase and Kraken addresses.
U.S. Government Activity Involves Seized Assets
Data also suggests the U.S. government transferred 3,375 ETH (around $11.75 million) from an address containing assets seized from Estonian entrepreneurs Sergei Potapenko and Ivan Turõgin. This transfer went to an unknown address.
These transactions follow similar movements by both governments last week, further fueling speculation.
U.S. government-linked wallets reportedly hold roughly 213,534 BTC (valued at $13.42 billion) and 50,524 ETH (worth approximately $175.9 million) alongside other crypto assets (according to Arkham).
The German government’s holdings are estimated at 44,692 BTC (valued at $2.81 billion).