bearish
BTC Is Down >10%; Is This a Buy-The-Dip Moment?
181 Views10 Jul 2024 01:12
SUMMARY
- Bitcoin's 11% drop was influenced by the German government's BTC liquidations, large long position liquidations, and the start of Mt. Gox repayments, increasing market supply.
- Bitcoin's downturn is countered by significant ETF inflows, indicating investor optimism. Concurrently, the fear and greed index's low levels point to potential buying opportunities.
- Ethereum is poised for growth with upcoming ETF approvals likely to drive substantial spot buying, positioning ETH for relative outperformance against Bitcoin.
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