BTC Price Index and Live Chart – CoinDesk”>(BTC) held steady above the $57,000 mark in early U.S. hours Tuesday even as a German government entity moved an additional $360 million worth of the asset to various exchanges, Arkham data shows.

The government transferred 6,600 bitcoins to the crypto exchange Kraken, OTC Cumberland and an address that Arkham considered to be a institutional trading service.

BTC fell to $55,000 earlier in the week after a German Federal Criminal Police Office address (BKA), which sent $900,000,000 to multiple addresses, scared traders.

The entity, however, received more than $200 million in the early morning hours of Asia from Kraken Coinbase Bitstamp, which indicates that the assets, while sent to the exchanges, did not end up on the market.

In 2013, the BKA seized nearly 50,000 BTC from the operators of a website that pirates films. The asset was received in mid-January following a voluntary transfer from the suspects.

BKA has 40,000 BTC in its wallet, which is worth $1.3 billion based on current prices.

Stephen Alpher edited the book.