Bitcoin's price may have hit a local bottom as the German government nears the end of its Bitcoin sell-off. The government's wallet currently holds just 3,856 Bitcoin, down from nearly 50,000 in February 2024. This sell-off has contributed to Bitcoin's price falling below $60,000. However, with the German government's Bitcoin sales slowing, some analysts predict a local price bottom and a potential recovery above the $60,000 mark. Other indicators, such as the Coinbase Premium, also suggest a local price bottom. However, Bitcoin's price must remain above $56,750 to prevent further bearish momentum.