But all is not lost.
1. Giant whales still HODLing
Even with the recent BTC price collapse, major whales and institutions aren’t selling.
Instead, many are using this opportunity to buy the dip.
Marathon Digital Holdings, a top miner, hasn’t sold a single BTC despite needing to free up capital.
Miner capitulation might actually signal a bull reversal.
Historically, BTC has experienced a 4-month chop period post-halving before major gains.
If this trend continues, we could see $BTC starting to climb by the end of summer.
2. Positive Sentiment
Data from Sentiment reveals a growing number of “buy the dip” calls for BTC on social media.
Investors are seeing $BTC below $60k as a golden opportunity rather than giving in to market panic.
Check out this chart⤵️
3. One rate cut in 2024
While the upcoming FOMC meeting at the end of July is likely to maintain the current interest rates, there are hints of a potential rate cut later this year, most likely in Q4.
This rate cut will have significant (positive) effects on $BTC.
4. Elections in the U.S
Following the recent presidential debate, Trump’s chances of winning have skyrocketed.
Trump has been a vocal supporter of crypto and has promised pro-crypto reforms if elected.
If he indeed wins, we could be looking at a massive BTC pump.
What’s the Way Forward?
Despite the recent dip and all the noise around it, this is just a minor setback in a wider $BTC rally.
I’m not worried at all.
$BTC remains a solid investment, and these minor setbacks are just temporary bumps on the road to greater gains.