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.
I don't know about the ETF, but they say that's its already price-in, and even if there is a big flow right now, it's not enough to put the market and to climb back to $60k at least for this week. What surprises me is the way the market moves in 4 hour timeframe, we almost touches $58,500 and now we are down again to $57k'ish.
So it's really hard to go up when there are selling pressure at this point. Let's just hope that we can at least maintain this level around $56k and up, it's the biggest support line that we have this July. But if we look at the bigger picture, at least at the end of the year, we might be going on a bull run already.