BTC Sentiment Poll for July

[Rabata]

This is currently the highest dip since Bitcoin last touched ATH and is very likely to lose more. It was somewhat predictable that the Bitcoin price would dip, but there was no guarantee. Many of us expected the Bitcoin price to fall but not break 60k and then turn bullish again but it didn't. I'm not worried about this dip because if the market is bullish, it will definitely re-energize with a big decline and that energy will increase several times more than before. When the Bitcoin price repeatedly bounced back from 71k, many felt that a fall was needed to re-energize the market and that is currently happening.

[Poker Player]

I think that we should not expect anything spectacular to happen in the next 2-3 months, and that means that the price should be quite stable in the sense that we should expect changes of 5-10% in both directions. A lot depends on how much BTC will be bought/sold through spot ETFs, and the data shows us that except for the first week of June, which was positive, everything else was an outflow. The first day of July started positively with an inflow of 2000 BTC, which was immediately reflected in the price.

Any specific reason for this time horizon or is it just intuition? I do not dare to put dates, what I do believe is that at some point in the second half of the year will begin the upward trend that will take us to almost $100K, a figure that I think it will be a little difficult to beat because of the symbolism.

[tabas]

Although it's not surprising for me and I'm not disappointed at all. We have to be patient at these times and we'll get used to this kind of move for Bitcoin. We've got the half remaining of this year for the market to be better and if not, we still have the 2025 for it to be at best shape. By this time, whoever loses his patience becomes the loser and whoever is the most patient becomes the winner. We get this at most times when the market isn't good and holders that have lost theirs will panic sell and won't be focused anymore to their goal of being long term.

In short, in the long run nothing changes, bitcoin will still recover and conquer new ATHs. The only important thing we need to do until bitcoin conquers a new ATH is to be patient and decide not to sell bitcoin even if something worse happens. What's going on is just short-term fluctuations so there's nothing to worry about or get discouraged, Bitcoin is unpredictable and we all know it. We might even be happy to see this if we have faith in bitcoin in the long run as the correction is clearly an opportunity for us to own bitcoin cheaper.

You nailed it. These things have to happen so, if there are some that still can't accept that this is part of the run these drops, crashes, and unexpected dips for them. All they need to do is to just look at that time when it drops and if they can buy, buy, and use that opportunity. Otherwise, they don't need to be worried about it if they're all set with their plans and holding for the long term. Short term period of holding will make you panic but as you've said, people like you and me and the others that have been holding until the next ATH arrives only needs to hold, nothing more, nothing less.

[yudi09]

So yeah, judging from June's sentiment poll, I feel like a lot of you guys have become a bit bearish on BTC.  Honestly I do too, but could the recent buy up on BTC for the last couple of days be a sign that the bottom is in?  I don't really know..  Lol.  But what do you guys think?  Below 60k or is the bottom in?

Just like you, I don't really know.
The price of Bitcoin is at a price level below $ 59,000 even on the binance graph I see the lowest point is at $56,771.
But we are still at the beginning of July or the first week of July where there are still a few more weeks before entering August.

Maybe the choice of strengthening answers in my opinion is not with the intention of Bitcoin will not be below the price of $60,000 in July.

[Hallroom]

There is so much Bitcoin price dumping this July that is unimaginable. Bitcoin price is just dumping very fast there is no chance of pumping. The reason why bitcoin prices are dumping now is that governments of various countries are selling bitcoins from their vast reserves of bitcoins, and they are trying to escape the dip. All these reasons are attributed to the current price-dumping of Bitcoin.

[Iranus]

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And as usual, most of the time when we think that we will be in a bullish state, the market goes on the opposite side again. I was also surprised to see the price going to $57k'ish and it looks like very bearish for now. I don't know about the Mt. Gox repayment but if this is the reason why we are bearish then I guess we can't really stop those people from selling their bitcoin and so get their money back after a long time.

So let's see how long this bearish or downward turn will go, hopefully in the next 3 weeks we have bounce back already and let the ghost of Mt. Gox be forgotten and finally laid to rest.

Mt.gox made an official announcement that they will start issuing BTC, and the German government continues to transfer some bitcoin to exchanges. It can be said that we will have a difficult period in the coming days because there will be a large amount of bitcoin sold on the market. Bitcoin immediately reacted to these news and today the price has dropped to $53k, and I think things haven't stopped yet because many people are still waiting for Mt.gox to release BTC to them.

We don't really have anything to be pessimistic about, but like I said, no one wants to see their assets decrease in value so some people will be a little disappointed with what's going on. At the same time, I think this is an opportunity for those who want to buy more bitcoin and this is a really good opportunity. Those who dare to buy bitcoin at this time are the ones who deserve a bigger reward.

[ndutndut]

Mt.gox made an official announcement that they will start issuing BTC, and the German government continues to transfer some bitcoin to exchanges. It can be said that we will have a difficult period in the coming days because there will be a large amount of bitcoin sold on the market. Bitcoin immediately reacted to these news and today the price has dropped to $53k, and I think things haven't stopped yet because many people are still waiting for Mt.gox to release BTC to them.

We don't really have anything to be pessimistic about, but like I said, no one wants to see their assets decrease in value so some people will be a little disappointed with what's going on. At the same time, I think this is an opportunity for those who want to buy more bitcoin and this is a really good opportunity. Those who dare to buy bitcoin at this time are the ones who deserve a bigger reward.

The price of bitcoin is currently falling because mt.gox is carrying out massive distribution, plus Germany is selling bitcoin in large quantities, so there is panic among small investors which makes them sell bitcoin. It is true that the current market is difficult to predict, but in my opinion if bitcoin still stays at $52k in the next few days then the market will recover, but if bitcoin falls to $51k, it is very likely that bitcoin will fall back to $49k.

Yes, that is true. In the short term, it is currently difficult to make a profit, but in the long term, this market decline is an opportunity for us to buy at cheap prices and continue to carry out DCA even though prices fall. Because believe that bitcoin will bounce back, this downturn will end in the near future. This is just a personal opinion.

[Wind_FURY]

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And as usual, most of the time when we think that we will be in a bullish state, the market goes on the opposite side again. I was also surprised to see the price going to $57k'ish and it looks like very bearish for now. I don't know about the Mt. Gox repayment but if this is the reason why we are bearish then I guess we can't really stop those people from selling their bitcoin and so get their money back after a long time.

So let's see how long this bearish or downward turn will go, hopefully in the next 3 weeks we have bounce back already and let the ghost of Mt. Gox be forgotten and finally laid to rest.

Mt.gox made an official announcement that they will start issuing BTC, and the German government continues to transfer some bitcoin to exchanges. It can be said that we will have a difficult period in the coming days because there will be a large amount of bitcoin sold on the market. Bitcoin immediately reacted to these news and today the price has dropped to $53k, and I think things haven't stopped yet because many people are still waiting for Mt.gox to release BTC to them.

We don't really have anything to be pessimistic about, but like I said, no one wants to see their assets decrease in value so some people will be a little disappointed with what's going on. At the same time, I think this is an opportunity for those who want to buy more bitcoin and this is a really good opportunity. Those who dare to buy bitcoin at this time are the ones who deserve a bigger reward.

Bitcoin is still Bitcoin no matter what the price it's currently in right now, tomorrow, or the next days after that. It's still working, chugging along, producing block after block. It still coheres with its ethos and main value-proposition = censorship-resistance. If the German government doesn't understand that, then it doesn't know Bitcoin's true value, which definitely is higher than the current price once real demand starts to set in.

[Bitwave01]

I joined my senior comrade to say No for an answer, for sounds of bulls are been heard gradually and soon they'll be very loud, the recent buys is a sign of the overall prediction

[tokeweed]

So the break down below 60k happened but will it stay below it?  There are some words swirling around CT that it's the German government that's been selling down BTC.  Didn't really follow the news and no idea how they got a huge stack of BTC.  But the good news is they'll run out before the month ends.  So no...  I don't think BTC will stay below 60k for July.

Oh...  And let's all root for Spain in the Euros vs Germany!  5 - 0 Spain W one time!  

As far as I know, the German government holds 50kBTC and this bitcoin is from their confiscation of the pirated movie website Movie2k. Recently, Arkham reported that the German government transferred a total of 1,300 BTC to Bitstamp, Coinbase, and Kraken. This is not the first time they have sold bitcoin, before that the German government also transferred this bitcoin to the exchange for the purpose of liquidation and the first time was on June 20.

The market has too much bad news but I also believe that this cannot last forever so we should not worry too much. It is inevitable that bitcoin will soon recover and continue to increase in price.

https://x.com/WuBlockchain/status/1808781034210930768

https://blockonomi.com/germany-liquidates-portion-of-50000-bitcoin-seized-from-pirate-website-movie2k/

Ah...  So they sent some BTC to an exchange and sold them around June 23 and 24 as we could see the long red candles in the chart.  Lol.  

I guess the real question now is how much more BTC does the German government hold and how much of it do they intend to sell for July?  I don't think they'll just sell everything they have in one go and push the chart down to 22k or something.

Edit:  And btw...  Justin Sun says he's going to negotiate with the German government to buy their whole stack from them.  Not really sure if he's to be taken seriously tho.  

[LogitechMouse]

Whenever I look for the charts of Bitcoin for the long run, there's only 1 indicator that I'm using to see the trend of it. 21 Weekly Moving Average.

21 Weekly moving average is what most analysts are using to know what's the trend of the market. When it's above it, the trend is bullish and vice versa. After more than a year, we just saw the market going below it which is a bad sign and a very bearish sign. Not a good sign TBH, because last week, it went below but closed above it, now we are below it again, and I don't think we will close above it this week as well.

Some might still be bullish here, but if the market closes below that 21 Weekly moving Average this week, I will be bearish for this month. Be patient, good luck, and I hope nobody will make impulsive decisions here and there.

[FinneysTrueVision]

Despite the downward trend recently, I am not ready to say that the bull market is over. The price is almost double what it was one year ago. When you have growth like that, it is natural to see corrections. Some people might be panicking because Bitcoin had a bad quarter. The Mt. Gox payments and German government selloffs will probably ensure that price will continue trading sideways and could possible go down further this month. I would use this opportunity to accumulate more BTC at lower prices before it starts going up again towards the end of the year.

[FinePoine0]

So yeah, judging from June's sentiment poll, I feel like a lot of you guys have become a bit bearish on BTC.  Honestly I do too, but could the recent buy up on BTC for the last couple of days be a sign that the bottom is in?  I don't really know..  Lol.  But what do you guys think?  Below 60k or is the bottom in?

Here's the monthly chart...  It still doesn't look all that bad imho.

This month of July has seen the highest dumping of Bitcoin price, because after the upswing, Bitcoin price is the highest dumping of this month of July. So the current dip is definitely attractive because the individual who buys the dip at this time will surely be able to share in the huge benefits later on.

[tokeweed]

^  I hope so...  And hopefully July would also have 'the highest pumping' of the price. 

But seriously there's prolly a lot of guys who sold their bags at maybe 54k or 55k..?  Waiting for the price to go below their selling price so they could buy back has got to hurt rn.  I'm not making fun of anybody.  I've been there before...  Lots of times.    Lol.

So yeah, votes have not changed.  A couple of votes for yes, 14 for no.  Where this thing is going will be a lot clearer in a couple of weeks.

[fuguebtc]

^  I hope so...  And hopefully July would also have 'the highest pumping' of the price. 

But seriously there's prolly a lot of guys who sold their bags at maybe 54k or 55k..?  Waiting for the price to go below their selling price so they could buy back has got to hurt rn.  I'm not making fun of anybody.  I've been there before...  Lots of times.    Lol.

So yeah, votes have not changed.  A couple of votes for yes, 14 for no.  Where this thing is going will be a lot clearer in a couple of weeks.

In recent days, with the news of Mt.gox refunding as well as the German government continuously selling bitcoin. I see many KOLs on X with hundreds of thousands, millions of followers starting to become bearish and they predict bitcoin will drop to about 38k-48k$. Many people are calling to sell bitcoin so I believe many people are following those signals, they are selling their bitcoin and waiting to buy it back when the price drops to the level predicted by their idols  .
From there it can be seen that the market is extremely bearish and depressed, many people are scared but to me, this is a good sign because bitcoin always increases in people's doubts.

[tokeweed]

^  Oof, 38k?  RIP market.    I don't think that's happening tho.  Not with the current price action at least.    It looks like it's fighting to go back above 60k.  I guess if we see it go back and stay above 60k in a couple of weeks then that's a good sign.  I'd rather see a slow trend back up than a quick buy up which could mean it's also gonna go for a sell down.

But yeah, 6 days more to go before I lock the poll.  Please get more votes in so we somewhat get an idea of BCT's sentiment.

[STT]

12hr average was held for over a day and I was hoping it would stay above to form a positive trend on greater time frames but it has failed and today is a bust in that respect unless these last few minutes bring a last minute recovery.  We are very close to the 12hr average once again but so far BTC is struggling more then a little in this recovery attempt.


Weekly, 2 day, 200 day all those moving averages are all in this particular area.   Most positive idea we formulate in this area is its direction is important now, we are in a pivotal place.  If BTC does find itself able to mount another attempt upwards then be positive at that moment as we have beaten all these measures and more.   Dont assume downwards imo, its not yet certain but we are bottom of the range and threatening lower for sure.

[Kemarit]

12hr average was held for over a day and I was hoping it would stay above to form a positive trend on great time frames but it has failed and today is a bust in that respect unless these last few minutes bring a last minute recovery.  We are very close to the 12hr average once again but so far BTC is struggling more then a little in this recovery attempt.

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

[X-ray]

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

I was hoping to see bitcoin price close around $62k but even that seem to be really hard, despite ETF inflow has been raking money around $294 million alone in 8th of july according to theblock eth inflow/outflow data and also the big player like black rock buying bitcoin by the hundred millions market still get pulled down again. People already learned to buy the dip but there's just as you said some entity trying to pull the market down trying to pull string behind the scene.

on the other hand ETH because of its ETF is still going strong but I expect it to be weak since the market trend and sentiment isn't that good.
really hoping that the bullrun isn't over yet here. Having the ATH just a little bit higher than previous one feels kinda incomplete.

[Smack That Ace]

True, I thought that it's going to hold unfortunately, it's not. Volume is down as well, perhaps some entities are pulling the market down. Support line along $58,000 didn't hold that much. In any case, July looks like to be June as well, struggling to recover and it's hard to see for now getting to $60,000.

We still have a lot of days though this July, so who knows, Bitcoin as an assets needs to mature, as we have seen deepest correction since 2022, investors should not panic, traders should be smart as well so that they won't be carried away as for sure they could have been losing big money along the way.

I was hoping to see bitcoin price close around $62k but even that seem to be really hard, despite ETF inflow has been raking money around $294 million alone in 8th of july according to theblock eth inflow/outflow data and also the big player like black rock buying bitcoin by the hundred millions market still get pulled down again. People already learned to buy the dip but there's just as you said some entity trying to pull the market down trying to pull string behind the scene.

Positive inflows from the ETF are a good sign that many people are trying to buy on dips, but if we compare bitcoin's daily trading volume, that number is too small to have any impact help bitcoin price increase significantly. If Mt.gox is indeed distributing BTC, that number would be in the billions. Clearly, the selling force is still greater than the buying force, so it is understandable that the price has not been able to recover.

on the other hand ETH because of its ETF is still going strong but I expect it to be weak since the market trend and sentiment isn't that good.
really hoping that the bullrun isn't over yet here. Having the ATH just a little bit higher than previous one feels kinda incomplete.

Why aren't you optimistic that once the ETH ETF is officially traded, more money will flow into the market and we will recover instead of thinking it has a weakening trend?

The bull season has not yet begun, you should not be pessimistic and think that the bull season is about to end. This is not the time to be pessimistic, things are getting closer, don't let the whales take your bitcoins at the doorstep of heaven.