Markets
Bitcoin Recovers $57K After $300M ETF Inflows
Bitcoin has found some stability above $57,000 after Monday’s decline to $55,000, as a German government entity received back assets worth more than $200 million from various exchanges late in the day in the United States, helping to revive sentiment. BTC traded around $57,400 in European morning trading, up 1% over the past 24 hours, after falling to $55,000 on Monday after a wallet address belonging to the German Federal Criminal Police Office (BKA) sent over $900 million to multiple addresses, spooking traders. Over the past 12 hours, the entity has received refunds from Kraken, Coinbase, and Bitstamp, Arkham data shows, indicating that while the assets were sent to those exchanges, they ultimately did not make it to market.