$BTC pump to $65,000 was significantly influenced by a reduction in selling pressure after the German government sold approximately 48,000 BTC.
This large sale happened when Bitcoin prices were around $54,000, indicating that traders had anticipated and adjusted for this influx of Bitcoin onto the market.
Additionally, there has been strong institutional investments into Bitcoin ETFs and other products that has increased demand and helped counterbalance the increased supply.
Moreover, the stabilization of Bitcoin exchange flows suggests a balanced level of investor activity, supporting a steady market environment.
This combination of reduced selling pressure, strong buying interest, and stable market activities contributed to the price recovery of Bitcoin.
Many altcoins have pumped 20-30% and we'll see more in the coming days.
A good way to spot trading opportunities is to pay attention to $BTC weekly close especially around key areas.
The momentum often carries on the first few days.
