After the German government transferred more than 10,000 Bitcoins to exchanges and market makers on Monday, nearly 3000 Bitcoins worth $163 million were sent back later in the day.  Germany had received 2,898 bitcoins, about $163 million, primarily from Coinbase, Kraken and Bitstamp. The exchanges most likely sent the bitcoin back to Germany after they could not sell it within a targeted price range. Germany’s major transfers on Monday included 5,200 bitcoin sent to Flow Traders, 4,200 BTC to the B2C2 Group, 2,350 BTC to Bitstamp, 2,050 to Coinbase, and 1,250 bitcoin to Kraken.

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