The German government's ongoing sale of Bitcoin ($BTC) and the commencement of disbursements to Mt. Gox creditors continue to exert selling pressure on the cryptocurrency. Despite this, Bitcoin's price remains resilient, holding above the $55,000 mark. Current indicators suggest that Bitcoin is oversold, prompting speculation that the local bottom may have been reached. This development is a crucial point of interest for those monitoring public chains and the broader crypto news landscape.