Bitcoin's price has been hovering between $55,000 and $58,200 for nearly a week, with the 200-day EMA at $58,000 proving to be a tough resistance. The German government's persistent BTC selling and expected repayments by Mt. Gox have weighed down Bitcoin's price. Despite this, Bitcoin whales continue to accumulate, viewing the recent drawdown as an opportunity to add to their holdings. This accumulation indicates a lack of intention to liquidate, reducing market volatility. However, Bitcoin's price volatility remains historically low, with a slowdown in trading activity since April.