The German government has once again moved a significant amount of Bitcoin (BTC) to major cryptocurrency exchanges, selling off another 595 BTC worth approximately $36.5 million. This latest transaction is part of a series of recent sell-offs from an address associated with the German authorities, bringing the total amount of Bitcoin sold in recent days to over 2,000 BTC.

The 595 BTC were distributed among several exchanges, with Bitstamp and Kraken each receiving 125 BTC, while Flow Traders, a global trading firm, received the largest portion of 345 BTC. Kraken has emerged as a preferred exchange for these transfers, having also received 200 BTC in yesterday's 400 BTC sell-off.

Despite the ongoing sell-offs, Germany's Bitcoin holdings have appreciated significantly, now valued at $2.76 billion, including $1.1 billion in unrealized profit. While some analysts have speculated that these government sales may be contributing to recent market volatility, the overall impact remains uncertain due to other influential market forces.

Bitcoin's price has shown resilience, recently surging above $62,000 before settling just above $61,000. At the time of reporting, Bitcoin's live price stands at $61,286.22, with a 24-hour trading volume of $23.8 billion. The open interest of Bitcoin has increased by 0.18% and a valuation of $18.1 Billion.

Bitcoin's relative strength index (RSI) has been a little below the 50 RSI zone, currently standing at 48.6. A slight 0.1% increase in the last 24 hours has seen Bitcoin trading between $62,438.10 and $61,228.09. Bitcoin's current market capitalization is approximately $1.2 trillion.