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Wu reported that Hupzy, citing Arkham on-chain data, stated that the German government-related wallet had previously sold 49,858 BTC, with a transaction amount of approximately $2.89 billion, and an average sale price of about $57,900. Hupzy believes that if BTC drops about 6% below the current level, the price will fall below the average selling price of the German government-related wallet, which could serve as a market psychological reference point; if BTC rebounds to near that area, it may also face renewed selling pressure expectations.