The German government has almost finished selling its Bitcoin (BTC), which could indicate a local price bottom. 💼

In just three weeks from the start of sales, the state’s Bitcoin wallet dropped to 3,856 BTC. This led to additional selling pressure of $222 million, pushing the BTC price below $60,000.

However, signs of a possible bottom are now starting to appear. For example, technical analysis using the Wyckoff method indicates a potential price bottom and recovery above the psychological level of $60,000, according to popular cryptanalyst Moustache.

It is important to note that to prevent a further bearish trend, the price of Bitcoin must remain above $56,750.