Reasons why the German government does not sell Bitcoin at a high price:

1. Market sentiment and expectations: Governments or institutions usually buy assets when the market expects prices to rise, and sell them when prices are expected to fall. If the German government sells Bitcoin at a high price, it may think that the market still has room to rise, or for long-term investment strategy considerations.

Laws and regulations: Governments may need to follow strict laws and regulations, which may limit the timing of their asset sales, rather than making decisions based on market price fluctuations.

2. Reasons why the Mentougou compensation was not made during the bull market:

Public opinion and social pressure: Compensation involves sensitive social issues, involving public attention and public opinion pressure. Compensation during a bull market may cause greater social attention and negative public opinion. The government may choose to make it during a relatively calm or depressed market to reduce the impact of public sentiment.

Market conditions: Market prices fluctuate greatly during a bull market, which may increase the cost and complexity of compensation. Choosing to pay when market volatility is small or prices are relatively low may be more conducive to controlling costs and risks

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