**Bitcoin Bounces Back Amid Market Shifts**

Bitcoin is on the rise again, climbing about 1.70% intraday to roughly $58,885 on July 13. This recovery follows a five-month low, driven by several factors:

- **German Government Sales**: Germany has sold over $2.5 billion worth of Bitcoin since June 17, leaving around 9,100 BTC in its holdings. Despite a 12.70% price drop during this period, Bitcoin has rebounded over 10% in the past eight days.

- **Institutional Buying**: Big players have been snapping up Bitcoin during dips. Wallets holding between 1,000 and 10,000 BTC have added over 10,000 BTC since June, suggesting strong institutional interest.

- **Weakening US Dollar**: The US dollar has dipped to its lowest levels in over a month, making riskier assets like Bitcoin more attractive.

Technically, Bitcoin's rebound appears to be part of an oversold bounce, with an immediate upside target around $59,000. Keep an eye on the 200-4H EMA at $61,235 for potential further gains.