Bitcoin’s price could be on track to begin the reaccumulation phase as the German government is down to its last few thousand BTC.
Bitcoin’s price may have seen the local bottom as the German government is running out of Bitcoin to sell. Technical indicators point to the potential beginning of a reaccumulation phase.
The German government’s wallet is down to just 3,856 Bitcoin (BTC), only three weeks after it started selling.
As a result, the additional $222 million worth of selling pressure has pulled BTC’s price below $60,000 over the past week, but signs of a potential bottom are starting to emerge.
