Germany did it and maybe there is a picture of what happened to bitcoin, then it just formed a little bubble that would cause panic in the market in the short term and after that bitcoin found its recovery point again.
Germany never wanted its bitcoin anyway, so it was going to sell eventually. But El Salvador wants to keep this for the long term, so I doubt they would sell off large parts of their reserves at once.
Even if they do that, who doesn't want an opportunity to buy the dip? (Besides chronic bitcoin haters, that is. But normies would relish the chance to buy sub-70K bitcoin again).
Yeah, two different situations.
Germany didn't have a choice as to what to do with their seized bitcoins.
Whereas El Sal is in full control here - and they did it successfully as for now.