According to U.Today, Saxony, a state in eastern Germany, has fully liquidated its Bitcoin holdings. This selling activity has been a significant bearish factor for Bitcoin since June. Last week, Bitcoin's price fell below $64,000, marking its lowest level in approximately five months. Saxony initially owned 50,000 Bitcoins, which were confiscated earlier this year from the operators of the Movie2K piracy website. Following the confiscation, Germany became one of the top Bitcoin holders among governments, trailing only the U.S., China, and the U.K. However, with Saxony's recent sales, Germany no longer holds any Bitcoin. These sales were absorbed by Bitcoin ETF investors, who took advantage of the price dip. On Thursday, Bitcoin ETFs recorded an additional $79 million in inflows, marking their best week since May with $882 million in total inflows. The selling spree has drawn criticism from the Bitcoin community. Joana Cotar, a pro-crypto Member of Parliament in Germany, called for a halt to the sales, suggesting that holding Bitcoin would benefit the state. Despite the end of Saxony's Bitcoin sales, other challenges remain, such as the impending Mt. Gox repayments. Bitcoin is currently trading at $57,723, according to CoinGecko data.