**Bitcoin Oversold After Germany's Massive Sell-Off, ARK Invest Reports**
Bitcoin took a hit in June after Germany sold off 50,000 BTC seized in a 2020 police sting, causing prices to drop from over $70,000 to below $55,000. ARK Invest's July 18 report suggests Bitcoin is now oversold, with miner outflows indicating a potential bullish reversal.
Despite the sell-off, investor interest in BTC ETFs remains strong. July saw billions flow into BTC ETFs, including $107 million into BlackRockâs iShares Bitcoin Trust. However, global economic data and Mt. Goxâs BTC repayments could pose risks to Bitcoin's recovery.
