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Data: Bitcoin is just one step away from the German government’s average selling price—$57.9k could become a key level.

MarsBitNews
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Mars Finance News, according to Arkham monitoring, the German government has previously sold a total of 49,858 bitcoins, with an average selling price of approximately $57,900. If Bitcoin drops about 6% from its current level, the price will fall near the German government's average selling price, which means Bitcoin is gradually approaching the cost range associated with large-scale sell-offs by sovereign institutions. Therefore, in the context of significant liquidation pressure in the market this week, the vicinity of $57,900 warrants close attention. Since government agencies' sales are usually non-autonomous and insensitive to price, this price level may become an important reference for the market to assess supply and demand relationships and subsequent trends.
BTC1.99%
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