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Bitcoin Regains $57K Following $300M of ETF Inflows

Bitcoin found some stability above $57,000 following Monday’s slide to $55,000 as a German government entity received over $200 million worth of the asset back from various exchanges late in the U.S. day, helping revive sentiment. BTC was trading around $57,400 during the European morning, an increase of 1% in the last 24 hours, having fallen to $55,000 on Monday after a wallet address belonging to the German Federal Criminal Police Office (BKA) sent over $900 million to various other addresses, spooking traders. In the past 12 hours, the entity received refunds from Kraken, Coinbase and Bitstamp, Arkham data shows, indicating that while the assets were sent to these exchanges, they ultimately did not hit the market.

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