**Bitcoin Market Update: German Government Sells Off BTC**

On July 12, the crypto community buzzed with news that the German government’s Bitcoin wallets are now empty. Some analysts believe this could lead to a Bitcoin price surge, as the sell-pressure has been removed.

Despite this, Bitcoin remains stuck in a tight range, with $60,000 as resistance and $54,000 as support. Technical factors show a bear flag continuation pattern, with weak buy volume capping upside attempts.

Order book data indicates Bitcoin is bouncing between $54,000 and $60,000. Heavy leverage longs around $56,500 could complicate things if prices dip further.

While some expect a trend reversal, the potential sell-off from Mt. Gox clients receiving 140,000 BTC could keep prices in check or push them down to $44,000.

Stay tuned for more updates!