Analysis: Bitcoin is just one step away from the average selling price set by the German government, with $57,900 potentially being a key price point

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 the current level, the price will fall near the German government's average selling price, which means that bitcoin is gradually approaching the cost range during large-scale sell-offs by sovereign institutions. Therefore, in the context of significant liquidation pressure facing the market this week, the area around $57,900 is worth paying close attention to. Since government sales typically exhibit characteristics such as non-voluntary nature and insensitivity to price, this price level may become an important reference range for the market to assess supply and demand relationships and subsequent trends.