**Bitcoin Bounces Back: Price Surges Amid Reduced Sell-Side Pressure**

Bitcoin is experiencing a notable recovery, with its price climbing over 20% from a low of $56,616 on July 12 to an intraday high of $65,210 on July 16. This surge follows a period of intense sell-side pressure, primarily from the German government and other large entities like miners and institutions.

Key Points:

- The German government offloaded a significant portion of its 48.8k BTC holdings between July 7 and July 10, contributing to the initial price drop.

- Despite this, Bitcoin's price stabilized around $54,000, indicating the market had already anticipated the sell-off.

- Increased institutional demand, evidenced by over $1 billion in ETF inflows last week, has helped counterbalance the selling pressure.

- Exchange flows have also declined, suggesting reduced investor selling activity.

Overall, Bitcoin's recent price rebound highlights a complex interplay between governmental sell-offs and rising institutional interest.