Bitcoin$BTC price consolidates near $58,500 despite reduced miners selling pressure

Here are some recent trends and factors affecting Bitcoin's price

- German Government's transfer of 6,306.9 BTC, valued at $362.12 million, to exchanges on Tuesday may negatively impact Bitcoin's price.

- Bitcoin spot ETFs received $294.8 million in inflows on Tuesday, the highest since June 6.

- On-chain data shows miners earn less than the historical average, indicating reduced profitability or less selling pressure.

- Bitcoin's price encountered resistance at the weekly resistance level of $58,375 over the past three days and trades below it around $57,339, 1.12% up on Tuesday.

- Technical analysis shows bullish divergence signals from the Relative Strength Index and the Awesome Oscillator indicators, suggesting potential momentum for an upward rally.